PGDM in Business Analytics Bangalore

What is the ‘Soul Reason’ for Marketing Success?

By Dr.Kamini Dhruva, Professor, ABBS School of Management

Technology has an overpowering hand over us. Marketeers assume that math and algorithms are sufficient to analyze and predict future behaviour of customers and their needs. The combination of marketing tech and automation is a reality today and we see it all around us-the digitalized world surrounded by Alexa, Cortana and Siri who are integral of our social, professional and familycircles. Brands today have steered from the traditional approach of marketing which focused on product attributes to appeal to their consumers. IT and digital marketing revolutionized branding which involved the society and customers to participate directly in shaping and personifying brands. Today the focus is on ‘brand spirituality’.

The need of the hour for marketeers is to embrace the meaning of business beyond branding. The brand being the macrocosm of a larger entity should be viewed as a living breathing ecosystem of value creation as they influence and impact societies. Therefore, they need to indulge and organize themselves as organizations engaged to maximize value in the lives of people and humanity. True brands must continue to sustain this vision, conviction and integrity and ensure that the ‘soul of
their business’ is not just to maximize their revenues. Fast paced lives, insecurity, uncertainty and people vying to outrun the other have created hollowness and emptiness in society. This is often reflected in the activities of the corporate world too. Brands and companies need to understand and sensitize these changes when creating and delivering value and products and relate to their customers emotionally. After all the inner value of the brand should be omnipresent in the culture
they exuberate and must connect to the fabric of human behavior and mindsets of society at large.

21st century marketing is not only about catering right products paired with technology and correct pricing, but it should also connect with audiences emotionally and through personality focussed campaigns. Distinction can be created in brand personalities via values through actions resulting in brand authenticity. As branding is a nebulous concept distinction is vital. This creates an edge and creates a visual identity with the customers. Visuality acts as road signs that direct brands to
their target audiences and more the brand resonates in thought, deed and action to live beyond their brand identity, connects for life with them.

Brands need to revamp and perhaps rethink how they want to be positioned. The footprints they create would be embed in the future of things to come. How they want to structure their processes, value, treat and nurture their employees who would speak volumes and they would be remembered for that. The ‘soft matter’ also is important, and it connects the soul of the enterprise with the heart of the community and society and gives the brand a unique glow of divinity in the minds of its
consumers if it achieves this kind of communication and relationship.

On a closing thought as quoted by Warren Buffet the American philanthropist, business tycoon and investor, it takes 20 years to build a reputation and five minutes to ruin it. If you think aboutthat, you’ll do things differently’. Brands wake up and decipher the reason why your audience must remember you? and realize that discovering and reinventing the ‘heart and soul’ of your purpose will lead your organization to integrity and success.

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