MAM
Consumers prefer entertainment marketing versus traditional forms: survey
MUMBAI: A longitudinal survey conducted by Hollywood Branded Inc. to measure brand, agency and consumer perception of tactics used in entertainment marketing campaigns, and the effectiveness of entertainment marketing as a form of advertising, showcases that 51 per cent of consumers purchase products after the brand is featured in TV or film product placement, and 43 per cent purchase after exposure to celebrity endorsement campaigns. Over 1,300 individuals responded to the 48 question survey, and the data provides insight into the most effective entertainment marketing tactics currently in use.
Significant survey findings included:
72 per cent of brands and agencies use entertainment marketing in their current marketing mix, whereas 52 per cent of marketers say that TV is the most utilized platform, followed by digital. Film is used by 29 per cent of marketers, celebrities by 23 per cent, music by 20 per cent and gaming by 11 per cent. Meanwhile, as per the survey 85 per cent of marketers state that entertainment marketing works to boost sales. Almost 98 per cent of consumers report noticing product placement in television and film and 80 per cent of consumers favour product placement and see it as a form of ‘organic’ marketing.
51 per cent of consumers make cognizant decisions to purchase after seeing product in a TV show or feature film. Whereas celebrity influences 43 per cent of consumers.
“The majority of consumer respondents indicate receptiveness to entertainment marketing, and express a preference for this form of advertising over traditional advertising as long as it is kept organic and natural in approach,” explains Hollywood Branded Inc CEO Stacy Jones.
Additional findings of the survey signify that social media engagement is the preferred measurement by marketers of campaign success. The majority of agencies measure return on investment based upon digital analytics and conversion rates, followed to a lesser extent by estimated impressions. As to future implementation, marketers state that entertainment marketing budgets will increase in 2015 more than any other area of marketing, based on past success of the tactics.
Entertainment marketing has become a commonplace practice used for brand advertising, with reported consumer and marketer data demonstrating positive influence on consumer sales.
Within the survey, consumer majority state receptiveness to the practice, when kept organic and natural in approach. Consumer response also indicates a preference for entertainment marketing versus traditional forms of advertising as it shows product usage in a natural setting.
The survey results support entertainment marketing as an effective marketing tactic for brand marketers to influence consumer sales.
MAM
Manappuram Finance appoints Sreekanth P V as group head – operations
22-year veteran from Bajaj Finance to drive efficiency and customer experience.
MUMBAI: Manappuram Finance just upgraded its operations engine because when customer delight needs turbocharging, even the gold loans get a smoother ride. Manappuram Finance Ltd has appointed industry veteran Sreekanth P V as group head for operations & customer experience at the grade of president. In his new role, Sreekanth will lead efforts to strengthen operational efficiency, enhance customer experience, streamline processes, drive service innovation and scale the company’s digital ecosystems across all business verticals.
Sreekanth brings over 22 years of experience in operations management, digital platforms, product innovation and customer experience within the financial services sector. Most recently he served as deputy executive vice president for digital platforms at Bajaj Finance Ltd, where he led the development of a unified app and web platform strategy and built a cohesive digital ecosystem.
Manappuram Finance, chairman and managing director V. P. Nandakumar said, “We are pleased to welcome Mr Sreekanth P V to the leadership team. He brings extensive experience in operations management, digital platforms and customer experience. As we continue to strengthen our operational capabilities and enhance customer engagement, his expertise will play an important role in driving efficiency, innovation and service excellence across the organisation.”
The appointment reflects Manappuram Finance’s ongoing focus on building a stronger leadership bench and elevating operational standards as the company scales its lending and customer engagement capabilities.
In a sector where every rupee counts twice, Sreekanth isn’t just joining the team, he’s the new conductor making sure the entire orchestra of loans, digital flows and customer smiles stays perfectly in tune.
