He further discussed how the brands need to build loyalty in today’s data driven world in order to retain their customers and emphasized that the customers are switching to content loyalty rather than brand loyalty. Thus, if brands don’t come up with the products that are relevant in content or context, they will ultimately lose. He reiterated the fact that digital age is driving brands to increase their digital marketing spend, as over the next 4 years, the amount spent on digital marketing will be more than the amount spent on all other channels put together. This translates to the CMO’s expenditure on technology being more than that of CIO’s in near future.
The interaction with the participants was highly insightful. Students came up with multiple queries which were answered by Mr. Bhamidipaty promptly. The interaction gave theparticipants an overall understanding of the significance and ways of customer retention.
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