It is that time of the year when we roll up our sleeves, conduct surveys, interviews, research and delve into the marketing practices that have been followed by the industry in the past year.

We have very recently launched our   VI Annual Marketing Practices Study 2010.

And, I think this is the best time to look back at the results of last year’s study.  When we had analysed the marketing departments of many organizations last year, we had found :

• Customer acquisition was the key focus of all marketing activity, even though there was a small downward shift as compared to the previous study
• While companies were investing in online marketing, there was a long way to go in leveraging this medium to its fullest
• Leads generated through marketing programs continued to be the only major metric in use

Prayag Take:
• Marketing initiatives were feasible and were not to be ignored by companies even during stressful market conditions.
• Focus would shift more towards programs which had yielded good results in the past; (possible only when existing programs were being tracked and measured effectively)
• Usage of social media tools was a cost-effective way to engage with the market

It is left to see whether there have been any innovations in marketing practices last year, or whether a similar trend continues. So, what are you waiting for, read about this year’s study and be part of it to win some exciting surprise gifts !!

http://www.prayagextranet.com/document/MBP_2011/mps.html

Popularity: 9% [?]

Yes, increasingly it is Math and not Maths. It is not just the nomenclature that has changed for this subject (that is close to most Indians), there is a complete transformation in the way the subject is being learnt and taught.

When we grew up, you were on either side of the Lakshman Rekha – either you hated Maths (and you sucked at Maths) or you loved Maths (and of course you were great at it). Maths classes were all about rigor – lot of nos. written all over the blackboard and a 100 problems assigned for you to practice.

Today there is a lot of emphasis on application and hands on learning, right from the kindergarten level. So patterns are taught with colored blocks, geometrical shapes with shape sorters and what not. There is a plethora of games and interactive content, both free on the Internet and paid for on CDs.

About 2 1/2 years ago, we at Prayag Consulting worked on an interesting assignment with HeyMath, who offer animated content that is interactive and interesting. HeyMath offers content from Kindergarten to Class 12. They offer online access and also work with schools for content to be used in the classroom.

Recently, I met a company called iMath, that focuses on content for kids upto age 7 – they feel that the predisposition to the subject is largely governed by how the child is exposed to it early on. The method is fun based, and again material based so that abstract concepts are imparted effectively. iMath has franchisees – so children go to these centers to access the content.

Right on the heels of my meeting with iMath, I came across another interesting company – 10/10 (actually they came to the place where I live). Again, they focus on primary classes. Former IITians have joined forces with cartoonists to create worksheets that are engaging and yet impart rigor.  10/10 sends worksheets by courier to the doorstep.

It is great that there are so many options for children and parents today. Maybe the Laxman Rekha is slowly being erased and we will see Math being not just learnt, but also enjoyed.

Popularity: 9% [?]

I read about this concept and it really intrigued me. Here is the textbook definition:

“Augmented Reality’s goal is to add meaning and information to a real object and place. Unlike virtual reality, where simulation is the name of the game, augmented reality may add audio commentary, location data, historical context, to enrich user experience of an object or place.”

Imagine that a recipient of your visiting card, waves it before a web cam that is connected to the Internet. The device will play a video of you or your company.

Calvin Klein is using AR in its latest global campaign. They have tied up with GQ magazine that carries a tag. Readers point the tag to web cams to view exclusive videos.

Some augmented reality projects involve use of a headgear that projects data into the user’s field of vision. An example would be in the context of education. Lab sessions could have recorded voice overs from the teacher. Comments, feedback, results that students in other batches have uploaded on the college’s intranet could be flashed, as the student tries out an experiment.

Fancy nomenclature aside, the concept has been around for ages. For example, replays of sport matches in slow motion are the oldest form of Augmented Reality. And today, statistics are quickly pulled out and displayed during a replay.

But with the increased adoption of technology (ex. mobile phone penetration) and the almost permanent connectedness to the Internet, Augmented Reality could find application in many more aspects of work and play.

Popularity: 5% [?]

In a coporate environment, employees baulk at some seemingly inflexible policies or guidelines. For ex. rules relating to work hours, dress code etc may seem rigid, especially to Gen Y (or is it Gen Z ??)

More often that not, most rules are grounded in unrefutable logic and common sense. I remember (which company was it though), one firm had a rule that no two people in senior management should take the same flight, no matter what. This rule’s reasoning has been proven sound, in many instances where an unfortunate disaster has taken toll in the form of many members of the executive team.

In fact, fresh from a rather shocking experience where my laptop went kaput, I am contemplating framing a new one “Any laptop bought by the company should be the same model of at least one another” – you may laugh, but I was so relieved when I could just plug in the battery of another laptop to mine and get going with my work.

So, my take is this, let us give benefit of doubt to certain policies that a company may have internally. Let us reserve our spirit of breaking rules to other instances (more on that in my next post)

Popularity: 6% [?]

At Prayag we have been working with educational institutions for a couple of years now and it is interesting to observe the landscape.

On the one hand higher educational institutes such as MBA colleges face challenges such as meaningful differentiation. On the other hand, even schools that enjoy an enviable demand-exceeding-supply scenario are looking at enhancing their offerings, be it international curriculum such as IGCSE and IB or additional facilities such as digitized learning. Consequently, we see educational institutions evincing interest in market studies, branding exercises, research and so on.

We also see many professionals from traditional marketing organizations such as FMCG companies either venturing out on their own to start schools/training institutions or joining such entities.

There is more openness to trying marketing initiatives and this is definitely an encouraging and interesting scenario. With reforms promised by the government, there is only one direction this sector is headed – one of growth and innovation.

It feels good to be part of this change.

Popularity: 8% [?]

Almost the whole world of business is going to sleep mode, with people hurriedly wrapping up tasks on hand.There is a surfeit of messages with the holiday spirit – buy this- get that, shop till you drop, buy a diamond for your loved one.

And the corporate sector also sees a flurry of cards floating around and gifts exchanged.

There is still emotion in spite of cynicism due to marketing overload. And a cleverly designed piece of communication, be it an electronic greeting card or an old fashioned printed one, can stand out from the clutter.

The New Year card and gift are also good ways to empahasize your brand values. I am personally proud of one card I thought of for a company that ran behavioral change and work skill programs (time management, negotiation skills etc.) The key theme of the card was New Year resolutions – which was in sync with the company’s values of making a difference to yourself.

The point is – keep reminding your customers of who you are – every interaction is a potential gold mine.

Popularity: 10% [?]