MAM
Brands need to keep the customers at the centre: Ray Velez
VARCA: At Goafest 2013, Razorfish chief technology officer Ray Velez explained how a company should organise a brand around the consumer by busting silos and applying the principles of agile development across one‘s business.
“A brand should always keep his customer at the center. One‘s organisation must be structured around the customer that will in a way help in building relationship with him. A marketer should plan his strategy based on the data from the actual customer activity and also understand that customer will give a feedback whether you like it or not,” he said, while talking about the five principles one should embrace in order to evolve their business to deliver new customer experience.
He also said a marketer should measure the data and see how to maintain the interactivity with the costumer. “Think of your brand as a service,” he emphasised.
He added that a customer should be serviced well so that he comes back. One needs to fulfill consumer needs which will henceforth enhance customer relationship and deliver happiness. Loyal customers buy 75 per cent more than the others, Velez mentioned.
Velez also added about how to thrive in our age of disruption. He highlighted on how the lines have blurred with technology, media, and creativity coming together, and how this shift is revolutionising marketing and business strategy.
“Convergence of technology, media and creativity allow you to imagine, create, and enable customer experience like never before. Media allows a two way communication through a hash tag which is a way for a customer to talk back. Creativity can come from anywhere and everywhere. And these are the provisions that technology provides,” he said.
Vezel believes that it‘s all about telling a brand story and providing an experience in a whole new way.
“Simple plug in buttons such as Facebook‘s “Like” and “Share,” Google‘s “+1,” and Twitter‘s “Tweet” and “Follow” dramatically lower the barrier to users sharing content from one‘s site out to their entire social graph,” he added.
Social cloud services provide digital experiences or web properties with the ability to connect up with Facebook, Twitter, LinkedIn, Google, Microsoft and other social services.
These services come in the form of Application Programming Interfaces (APIs) that a technologist can integrate. Whether a digital experience is a mobile application or a traditional desktop site, these APIs are available.
According to Velez, one should create a 360 degree view of the consumer with analysing his media exposure, offline consumer data and the website behavior. ‘Data is something which tells you what your customer wants. Also, employ agile methodology and rapid prototype,” Velez said.
Velez said that one needs to embrace the diversity of culture and other diversities in order to deliver new customer experience. He picked a statement from Frans Johansson‘s book The Medici Effect saying, “When you step into an intersection of field, disciplines of culture, you can combine existing concepts into a large no. of extraordinary new ideas”.
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.
