Mastering the Art of Cross-Regional Marketing: Insights from Deepak Renganathan
In an interconnected world driven by globalization and digital connectivity, the boundaries that once confined businesses to specific regions are rapidly dissipating. This shift has given rise to a new frontier in marketing: cross-regional marketing. Navigating this realm requires a unique blend of cultural sensitivity, strategic insight, and technological prowess. As businesses expand their reach beyond borders, mastering the art of cross-regional marketing has become an indispensable skill for achieving international success.
Join Naresh Pandey, Sales Director at Pepper Content, and Deepak Renganathan, CXO and Global Marketing Leader as they discuss all this and more.
In this conversation, they delve into the intricacies of cross-regional marketing, exploring the challenges, opportunities, and strategies that shape the marketing landscape today. From understanding local nuances to harnessing the power of digital tools, they'll uncover the key elements that can help businesses thrive in a global marketplace.
Here are some excerpts.
1. Tell us about your journey so far.
I began my career around 21 years ago after completing my MBA, although my educational background is in architecture. My initial exposure to the automotive industry came during an internship at Toyota, where I worked on the launch of the Corolla in the Indian market.
This experience ignited my interest in the automotive sector, leading me to roles at Toyota, Ford, and later Nissan, where I held various positions in product marketing, global communications, and regional operations across diverse markets like India, China, the Middle East, and Africa.
During my time in the automotive industry, I embraced challenges and constantly sought new opportunities to learn and grow. I was involved in launching innovative products like the Ford EcoSport, and I learned the significance of tailoring marketing campaigns to different cultural contexts while maintaining a global perspective. I navigated through language barriers, cultural nuances, and diverse customer preferences, contributing to the success of various brands and products.
After 14 years in the automotive sector, I recently took on the role of Chief Marketing Officer for DLF Homes, where I played a pivotal role in achieving remarkable sales figures and elevating DLF's position in the market. Now, I'm embarking on a new challenge as the Head of Marketing for a prominent organization in Dubai, the Mac.
In my journey, I've remained location agnostic, focusing on embracing challenges and contributing to different industries and regions while honing my skills in marketing, strategy, and leadership.
2. How does a marketer navigate the challenges of tailoring marketing strategies to suit varied audiences while maintaining a cohesive global brand image?
Certainly, I believe there's a fundamental marketing mindset that needs to be adapted when entering different regions.
While the core principles of marketing remain consistent, it's important to understand and respect the unique cultural, societal, and economic factors that shape each region's consumer behavior.
Customer-centricity remains paramount; tailoring your approach to the specific needs and preferences of the local customer base is crucial.
Moreover, while the basic marketing framework like the four Ps (product, price, place, promotion) holds, their execution can vary significantly. The product might need to be customized to cater to local tastes and requirements, pricing strategies should reflect the local purchasing power, distribution channels might differ based on infrastructure and consumer habits, and promotional efforts should resonate with the cultural context. The ability to adapt these elements while staying true to the core value proposition is key.
Lastly, every region has its competitive landscape, customer expectations, and market dynamics. So, while there's a standard protocol rooted in sound marketing principles, the dynamic nature of regions requires continuous learning and adjustment. Balancing the universal marketing fundamentals with region-specific insights is the cornerstone of successful cross-regional marketing endeavors.
3. How difficult is the battle for a marketer to position a product in the market?
Positioning a product in a specific limelight can indeed be a complex battle for marketers, especially in diverse markets. The key lies in identifying a larger umbrella concept that resonates universally but can also be nuanced to cater to the different needs and aspirations of various customer segments. Let's take the example of the Ford Ranger. The overarching theme could be "boldness," which can appeal to a wide range of customers, from solo entrepreneurs to lifestyle enthusiasts.
This broader concept serves as the foundation for messaging while allowing for fine-tuned variations based on regional preferences. During my experiences, we've executed this approach by conducting pre-production meetings across different time zones for television shoots, creating nuanced messaging that aligns with the larger theme but speaks to specific market nuances. This balance between a consistent core message and tailored regional adaptations is crucial for effective positioning.
In the end, it's about striking the right balance between a cohesive message and individualized approaches. The product might be singular, but its meaning and impact vary across diverse markets. By understanding the unique customer profiles and market dynamics, we can craft a compelling narrative that brings the product into the limelight while respecting the distinctive traits of each region.
4. How does content marketing differ between a product and a service-based company?
When it comes to content marketing, whether for product-based or service-based companies, the core principle remains grounded in triggering the right emotions in consumers.
Brand perception is paramount, often even preceding the consideration of a specific product or service. People connect with brands first, and then they delve into the product details.
As an example, the process of buying a car involves being convinced about the brand's essence before focusing on a particular model.
Content marketing serves as a conduit to convey these emotional triggers effectively. Regardless of the industry, the goal is to create content that resonates with the target audience and speaks to their aspirations, desires, and values. This emotional resonance holds true for both tangible products like cars and intangible services like insurance.
Moreover, the dynamic nature of consumer preferences and the evolving media landscape necessitate content that remains relevant and engaging over time. The essence of content marketing lies in understanding the emotions that drive consumer choices and crafting narratives that genuinely connect with them.
5. What do you think will be the impact of AI on marketing and what should be a marketer's approach towards AI?
The impact of AI on marketing is profound and far-reaching. AI technologies, like ChatGPT and others, have the potential to transform various aspects of marketing, from content creation to data analytics and even customer interactions. It's not just about automating certain tasks; AI enables marketers to glean insights from vast amounts of data, predict trends, personalize campaigns, and enhance customer experiences.
I'm deeply intrigued by AI's role in marketing, and I'm currently involved in a doctorate program focused on understanding its effects and implications on the market. I'm also in the process of writing a book on this subject to delve into the nuances and possibilities that AI brings to the field.
As AI tools continue to evolve, a marketer's approach should be one of collaboration and creativity.
While AI can generate content and insights, it's crucial to recognize that AI tools are enablers, not substitutes, for human creativity and expertise. The human touch in understanding the nuances of emotions, cultural context, and brand essence remains invaluable.
AI should be seen as a partner that can amplify marketing efforts, assist in automating routine tasks, and provide data-driven insights for informed decision-making. By embracing AI's capabilities and staying open to learning, marketers can harness its power to create more engaging, effective, and personalized campaigns while adapting to the ever-changing marketing landscape.
6. What do you see as a potential challenge that marketers need to be ready for?
One key challenge that marketers need to be wary of is ensuring alignment and buy-in from management and stakeholders. Even if you have a groundbreaking idea or strategy, without support from decision-makers and those who hold the resources, it's challenging to turn that idea into reality. Effectively communicating the value and potential impact of your initiatives to gain their backing is crucial for success.
Another challenge lies in harnessing the vast amount of data and emerging technologies available today.
With the advent of AI, IoT, and big data, marketers have access to an abundance of information. However, the real skill comes in deciphering this data and using it strategically to enhance customer experiences, personalize campaigns, and drive business growth. The challenge is not just in collecting data, but in translating it into actionable insights that benefit both the customer and the company.
Embracing these challenges and transforming them into opportunities to deliver value to the customer should remain the core focus for marketers.
