MAM
FICCI-EY report sheds light on priorities & challenges for CMOs in 2021
NEW DELHI: 2020 was a very challenging year for marketers and business owners, as the Covid2019 pandemic literally reshaped the way in which they functioned in the past. And now, a new FICCI-EY study report has shed light on the priorities and challenges for marketing heads in 2021.
Marketing spend efficiency: The foremost priority
The study report suggested that marketing spending efficiency will be the most important priority for CMOs in 2021. 80 per cent of the CMOs who took part in the survey highlighted marketing spend efficiency as one of their top two priorities for 2021 given the impact of Covid2019 on marketing budgets.
Considering the rising popularity of OTT platforms, 65 per cent of the respondents are working towards finding a balance between television and OTT spends. Over 50 per cent of the respondents suggested that they are planning to revive offline engagement opportunities with customers.
Challenges faced by marketers in 2021
The survey report suggested that the key challenge faced by marketers is self-reporting by walled gardens on ad performance, as it demonstrated a clear need for a layer of assurance on digital spends. Most marketers face a dilemma while evaluating lead quality before additional amounts are invested, and many of them are using a trial and error mechanism to evaluate the same across platforms, formats, etc.
A majority of the participants who took part in the survey revealed that digital ad fraud remained an issue for most of them. 41 per cent of the marketers trust their digital ad agencies or the platforms to manage ad fraud for them. 31 per cent rely on using third-party tools to detect ad frauds.
Respondents in this survey also talked about how their organisation accesses the state of future-readiness in terms of digital maturity. 92 per cent of respondents were actively monitoring their digital readiness, while 53 per cent of respondents are dependent on their digital agency partners to know more about leading practices in their digital transformation journeys.
Six per cent of the respondents revealed that they are growing at their own pace, and made it clear that the state of future-readiness in terms of digital maturity does not interest them. Two per cent of the marketers admitted that they are not aware of the state of future readiness in terms of digital maturity.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
