62% CMOs in India said that spends on video for consumer outreach delivered the highest ROI during lockdown: Report
- A report by Octane Research and DMAasia revealed 65% CMOs said that spends on video for consumer outreach delivered the highest return on investment for them during the lockdown.
- The report also said that video continues to be the most stimulating type of content for the consumer, which also offers maximum engagement.
Octane Research engaged with 250 plus of India’s leading Chief Marketing Officers (CMOs) and Leaders – as part of its research study to gain first-hand insights and perspective on outflanking the impact of the Covid-19 pandemic. DMAasia is now India’s largest fraternity of progressive and brave marketers.
According to the report, as many as 62% of India CMOs said that spends on video for consumer outreach delivered the highest return on investment. "The digital industry and streaming video players like Netflix, Amazon, Facebook, YouTube and others decided to temporary default their video quality to SD. This initiative was in consumer interest to ensure better access to the internet by maintaining the robustness of cellular networks," said the Octane's annual state of online marketing report published on its 10th anniversary.
Marketers said that video—along with live streaming—gave their brands the maximum amount of customer engagement, only social media had more. It was also noted blogs and email campaigns have continued to be among the TOP 5 channels for customer engagement. Promotion and updates through the use of traditional SMS is also among the Top 5.
"Content Marketing in India has finally found its place as a separate line item on the marketers’ budgets. Online is driven through effective content management practices and we anticipate surge in this area for the 2021 Annual. Engaging new audiences emerges as the no. 1 area of opportunity for India brands," it said.
The report revealed that a video for “Nutrela” titled #AcchaKyaHua, and promoted with minimal budget, managed to garner over half a million views on Facebook during the lockdown.
“With movement of people severely limited during the lockdown and even after that, companies swiftly adopted digital mode to reach out to wider section of people, the evidence suggest that the strategy worked,” said Punit Modhgil, Chief Research Officer, Octane Research.
CMOs in India also leveraged their brand’s social media handles to actively reach out and engage with their followers. They used their Instagram and Twitter handles to showcase emerging creative talent—and commissioned select creative work to help tell the brand story. The brand 'Converse' ran a campaign on new ways to create progress together with consumers.
As regards emailers and newsletters, 43% of India CMOs participating in the study ranked email third in terms of impact & return on investment generated. According to Campaign Monitor, open rates for email increased by 16 per cent in March and email sends increased by 19 per cent.
Thirty-three per cent of CMOs feel they would be running seasonal campaigns on loyalty programmes and an almost equal number vouched such initiatives in the short-term.