In conversation with Kapil Mishra, Brand and Creative Consultant, Indiassetz
Owing to the growth of the digital landscape around the world in the last few years, the industry has seen many young professionals launching their own startups. With customer-centric approach drawing major attention towards itself across sectors, the biggest challenge that lies in front of startups is how authentically they deliver the desired message to the target group while using an ideal combination of marketing tools.
To comprehend why building a powerful narrative is necessary, which form of marketing startups must focus on and, how can startups can position themselves as thought leaders in the Marcom space, Agency Reporter reached out to Kapil Mishra, Brand and Creative Consultant at Indiassetz.
Kapil Mishra is a Marcom Professional with 17+ years of experience in the industry. In his current role, at Indiassetz he oversees the verticals- marketing, social media communication, and advertising to help establish Indiassetz as the premier Real Estate brand. Mishra’s last stint was with Lowe Lintas where he was associated as Regional Creative Officer for South and handled advertising accounts for brands like Flipkart, Tanishq, Swiggy, Britannia, HSBC, PhonePe to name a few.
Agency Reporter – Today the market has shifted to a customer-centric approach. Why building a powerful narrative is necessary for every startup and how can it aid them in creating a coveted brand image?
Startups have a clean slate. That’s a great advantage. They can paint their own picture in their own style. Usually, the idea of a startup survives as long as it has the edge in terms of having a niche or an innovative business model. But soon, the place gets cluttered. New players come and try to take advantage of the space created by you. Before that happens, startups must occupy a space in the consumers’ minds. And continue occupying it. That’s the only way that can help them maintain the edge over time and will make them a business worth a long term investment.
Agency Reporter – The shift to digital has changed the game for all businesses. What initiatives startups must take while devising MarCom strategies in order to position themselves as thought leaders?
Digital has made the game more convenient for startups. Twenty years back, startups would not have many media options. They might have to talk to everybody in order to talk to who they actually want to. Today, you have bespoke media catering to your specific needs with all the possibilities that digital offers you. Startups must look for their own salvation, and should not emulate others’ successes. They should invest more in long term brand building and less in immediate gains. They should spend their money carefully but should not be shy of spending on quality outcomes. They should invest more in the intellectual properties of their brand. And should not make noise just for the sake of making noise.
Agency Reporter – In today’s digital age, the creation of brand assets in line with the long-term objectives of the brand is key. How can an excellent understanding of brand assets help in enhancing the overall brand image?
Brands have two kinds of assets, physical and emotional. It’s the latter that builds the brands in the hearts of people and allows you to get preferential treatment from consumers. Brands need an emotional aura. When you hear the name of a brand, you should feel the right things about it. The job of a marketer is to keep building these emotional assets for the brand. The more you own this, the more entrenched the brand becomes.
Agency Reporter – Digital transformation has undeniably helped brands flourish in the industry but it has also encapsulated the market with clutter. Under such circumstances, which new forms of marketing can lead startups to the doors of success?
Digital has given us a big playing arena. Now we can choose which ones suit our brands. Some brands will find that content creation suits them best. Some will find storytelling videos work better for them. Some will realise that the traditional digital approach works better. Whatever method is chosen, it has to use the old tricks of human engagement only. Human insights and an engaging conversation is the key if you want to be seen and liked in this clutter.
Agency Reporter – Undertaking CSR activities might not be the first thing on a startup’s mind but it can definitely set them apart from the competition. In your opinion, what additional initiatives startups must take as a part of CSR?
It definitely set some brands apart from the competition when it was a novelty. Today, every brand wants to do something for society. As if they don’t want to make profits anymore. In today’s world, a brand should consider two things before walking on this social path. First, whether it’s relevant to my brand building or I’m doing it to just join the bandwagon. And two, whether in the current scenario, it’s going to break the clutter or not. Today, any brand taking this route runs the risk of being laughed at for being superficially socially concerned. There are other ways of building a brand too.
Agency Reporter – The saying ‘One size doesn’t fit all’ fits perfectly in the case of MarCom. Why must startups not run on strategies that have already been chosen by its rivals?
Because that’s a sure-shot recipe for disaster. In 99% of cases. In one per cent case, it can be a smart thing to hijack your competition’s strategy, if you have disproportionately higher amounts of media muscles, and a much bigger distribution network. Or, if you are in a sunrise industry and the market is expanding fast. But in cases, where you are smaller or of an equal size, or, in an industry which is cluttered, will only help the competition and will dilute your own differentiation.
Agency Reporter – Startups often face complications in connecting effectively with their target groups. How can they use consumer data while framing MarCom strategies to overcome these complications?
Consumer data has to be read well. Not just for the numbers, but also for the softer nuances. If you can get to the human insights hidden behind the data, you can do wonders with your brand. The numerical data will help to some extent. But if one can understand the behavioural data and the reasons for those behaviours, it can be used for some very insightful communication.
Agency Reporter – What forecasts can be made in MarCom space for startups for the coming years?
It will become more and more difficult to build a brand from scratch because of the media clutter.
- Many niche brands will occupy spaces that will dig into the big national brands.
- Maybe in some categories, the days of the big national brands are over.
- Human ideas will become more and more important as only they have the ability to build a deep and long lasting connection.
- Technology will help reach a level where technology will not be able to help anymore.
- A good understanding of technology, data and human insights is the only combination that will be able to save startups.
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