MAM
Marketers have to be accountable for business consequences
MUMBAI: Marketers have to be accountable for business consequences and not just idea executions, experts in the industry said.
“There has to be an analytical correlation. If Rs 100 million is being spent, the marketer must know by how much he has moved the needle of market share. There has to be a target. A brave CFO (chief financial officer) works with his gut after getting an idea from his marketing team. Marketers should have the courage to put their necks on the chopping block and own the idea,” said Reliance DTH and IPTV CEO Sanjay Behl, while speaking at the Mindshare Brand Equity Compass.
Spatial Access Managing Partner Meenakshi Madhvani bemoaned the fact that big money is chasing mediocre ideas. “90 per cent of advertising consists of mediocre ideas. So marketers feel that they have to shout louder as the idea is mediocre. We are on a mediocrity spiral as often there is not enough time for creative. Every brand manager feels that a bigger budget leads to a stronger market position.”
Madhavani made the point that advertising shies away from accountability as there is no long term perspective. This is the same reason why a marketer will not want to invest in developing an accountability matrix.
Lowe chairman and chief creative officer R Balki denied suggestions that there is no accountability for a creative agency. “If that was the case and we kept failing, then why would we keep getting business? We get a retainer fee. There are also incentives which are not much anyway. The rewards and amount kept for success are not linked to performance. What we do is in line with the objective of a campaign. Is it to change perception or to sell?
There is a need to have ROI modeling embedded in the minds of marketers. Behl noted that Cricket offers immediate reach and impact. It is more measurable than any other media tool. Techniques are advanced and it can be known which game gave better economic value.
Madhavani said that cricket is good if you have just launched a product and want lots of people to know about it in a short period of time. “However if you have been doing a sustained campaign for your product over months, then you might not need cricket. Also for involvement, cricket reaches a small group. Advertisers are being misled by the fact that women watch the IPL. But IPL is not cricket. It is a tamasha. Generally women do not watch cricket.”
Obviously if one is getting higher value, then one will spend more. The question is what is the premium you have to pay and how much more value is the client going to get. Clients and agencies must also have a vision.
If you are actively investing to grow your money month after month, you already understand the value of planning ahead. SIPs, long-term portfolios, retirement planning and goal-based investing all point to one thing. You are building a future with intent.
What often gets missed in this process is one foundational question. How well is the income that funds all these plans protected?
Term life insurance fits naturally into this stage of financial planning. It does not compete with investments. It supports them by protecting the income that makes long-term growth possible.
Why Income Protection Is a Core Part of Financial Planning
Every financial plan begins with income. Before money is invested or saved, it is earned.
Over time, this income is allocated across multiple needs:
● monthly household expenses
● EMIs and long-term loans
● savings and emergency funds
● investments aimed at future goals
As responsibilities increase, financial planning becomes layered. Each layer assumes income continuity. Term life insurance exists to ensure that this structure does not become fragile due to overdependence on a single income source.
It adds stability to plans already in motion rather than introducing a new objective.
What does term life insurance do?
Term life insurance provides a fixed payout to your nominee if you pass away during the policy term. The purpose of this payout is practical and clearly defined.
It is intended to:
● replace lost income for a defined period
● help manage outstanding liabilities
● support ongoing household and goal-based expenses
There is no investment or savings component. This keeps the product focused and cost-efficient, allowing individuals to opt for meaningful coverage without diverting funds meant for growth-oriented investments.
Why Term Life Insurance Complements Investing?
Investments and insurance play different roles in a financial plan.
Investments are designed to:
● grow wealth over time
● compound with consistency
● be adjusted as goals and risk appetite change
Term life insurance is designed to:
● provide financial continuity
● protect existing plans from disruption
● remain stable once put in place
Keeping these roles separate improves clarity. Investments are allowed to perform without being forced to double up as protection, while insurance quietly supports the overall structure.
Who Should Consider Term Life Insurance?
Term life insurance becomes relevant when financial planning extends beyond individual needs. This typically includes:
a) Working professionals
When income supports shared expenses or long-term plans, protection becomes essential.
b) Individuals with long-term liabilities
Home loans, education loans and other EMIs often extend over decades. Term insurance ensures these obligations remain manageable.
c) Parents planning future milestones
Education, healthcare and lifestyle goals require continuity over many years.
d) Early planners with rising incomes
Starting earlier allows coverage to align smoothly with career progression and evolving responsibilities.
How Much Coverage Should Be Considered?
Coverage should be guided by financial reality rather than affordability alone.
A well-rounded evaluation typically considers:
● number of years income needs to be replaced
● existing and future liabilities
● long-term goals already planned
● inflation and rising living costs
Many insurance companies offer options starting from 50 lakhs, 1 crore term insurance and higher. It allows individuals to choose coverage based on their income, liabilities and future plans.
How Term Life Insurance Fits Into a Long-Term Plan
Once set up, term life insurance does not demand frequent attention.
It does not require active monitoring, market tracking or performance reviews. Its role is structural rather than dynamic.
By ensuring financial continuity, it allows families to:
● stay aligned with long-term plans
● avoid rushed financial decisions
● focus on execution rather than damage control
When aligned correctly, term insurance strengthens the foundation on which investments, savings and retirement plans are built.
Choose the Right Insurance Partner
Once the need, coverage amount and role of term life insurance are clear, the final and most important step is choosing the right partner.
This decision should be based on:
● clarity and transparency in policy terms
● a strong claim settlement track record
● consistency in servicing and communication
● the ability to support long-term financial planning rather than just selling a product
Term life insurance is a long-term commitment. The partner you choose today will be the one your family relies on years down the line.
When protection is aligned with purpose and backed by a dependable insurer, term life insurance becomes a quiet but powerful part of a well-built financial plan.
