Senior leadership may set the tone for the business and foster an environment of experimentation and risk-taking, as well as provide direction when necessary, much as national leadership can be a crucial component in supporting agile marketing in a country.
Speaking at the Confederation of Indian Industry’s 6th CII Marketing Leadership Summit 2022 themed ‘Marketing Agility in the Age of Uncertainty’ (CII). During the epidemic, individuals linked digitally across the system, according to Suresh Narayanan, Chairman of the CII National Committee on Food Processing Industries and CMD of Nestle India.
According to Narayanan, in order to activate marketing agility, organizations must perceive and read customer thoughts, identify trends, and analyze data and the macro environment, as well as include ethics and values into their brand strategy as the world becomes more digital.
According to him, marketing agility benefits businesses by allowing them to adapt quickly to changes in client demand and market conditions, allowing them to tap into new market sectors.
He further added, “There were 250 million recipe searches and almost 10 million subscribers to food channels. There are almost 7000 food groups with 100 million members on social media. The business landscape is completely changing. This is a new space to be in.”
He added that by utilizing agile marketing strategies, businesses may swiftly modify their strategy and tactics in order to target the correct clients and optimize their ROI.
According to Narayanan, the basics of marketing will continue only the perspective will change. “There is a need to go back to the roots which will make agile marketing more interesting,” he informed.
“Companies that have adopted agile marketing have seen numerous benefits, including increased customer satisfaction and faster time-to-market. Additionally, agile marketing has helped companies save costs and reduce customer churn,” he added.
According to Narayanan, agile marketing also encourages cross-team learning by allowing teams to exchange best practices and insights with one another. Finally, it offers for greater campaign and strategy flexibility since teams can swiftly pivot and change as needed.
According to Rajesh Ramakrishnan, Chairman of the CII National Committee on Marketing Leadership and Managing Director of Perfetti Van Melle India, firms who can effectively deploy VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) marketing agility would be better positioned to predict and adapt to changing client preferences and market conditions, helping them to stay ahead of the competition. Organizations may now use VUCADD as well (Volatility, Uncertainty, Complexity, Ambiguity, Disruption, and Diversity).
“This involves anticipating and understanding changes that could impact the organization, as well as having the necessary capabilities and resources to quickly react to those changes,” he said.
He emphasized the leader’s capacity to take a high-level perspective, looking at what is occurring in the long term and setting goals appropriately, while zooming in and taking a more specific approach, focusing on short-term projects and moving as swiftly as possible.
Since the summit’s debut in 2017, more than 2000 corporate leaders and more than 100 notable speakers and thought leaders have attended, according to Indrani Kar, Principal Advisor, Confederation of Indian Industry and Head, CII Suresh Neotia Centre of Excellence for Leadership.
