Debunk Marketing Myths 1.0- Key Takeaways That You Need to Know

With the marketing industry constantly changing, and companies buzzing about the latest tricks and tools, it’s hard to separate fact from fiction. To be a modern marketer in this always shifting industry, one must have a clear concept of how the market is moving towards the future. Keeping this mantra as the core, “Debunk Marketing Myths 1.0”– the first-ever workshop organized by Digital Illuminatis took place on February 22, 2020.

Debunk The Marketing Myths- GroupPhoto_ Markedium

Read More: Global Business Travel Sector To Lose $820 Billion Due to Coronavirus.

[ Digital Illuminatis: Conceived out of the thought of creating a community of industry professionals and enthusiasts to breach the industry-academia gap, Digital Illuminatis is a Facebook community that every brand enthusiasts of the country should join to gain real-life industry knowledge and problem-solving guidelines. So, If you haven’t joined already, join now.]

The workshop was arranged to debunk marketing myths that exist like- Media Buying for TV isn’t worthy anymore or Programmatic is just jargon or Startup is only a show-off game.

Four industry maestros were presented with four sessions to share their experience with the audience.

Debunk The Marketing Myths- Speakers_ Markedium
From Left: Rakibul Hasan, Joshua Adhikari, Farhana Preeti and Mahmud Alvi.

Name of The Speaker

Speaker Details

Topics

1.      Rakibul Hasan

COO, Mediaaxis

Television in the Digital Age

2.      Farhana Preeti

Key Account Manager, Shajgoj

Struggle & Growth of E-Commerce

3.      Joshua Adhikari

Country Manager-Bangladesh, Eskimi DSP

Programmatic Advertising

4.      Mahmud Alvi

Marketing Manager, British Council

Smarketing with Psychological Pricing

For those of you who have missed the workshop, here are the key takeaways from the sessions.

Topic # 1 – Television in the Digital Age

Television plays a strong role in marketing communication. If a brand fails to deliver the brand message to the audience through this channel, chances are the brand will suffer miserably in the long run. Television with OTT and Digital can do magic for any particular brand.

Takeaways –

  1. Most tv channels are struggling with revenue and survival. Hence, consolidation might happen in the near future.
  2. Television media buying isn’t dead or going to die. It is a must for Top of Mind Awareness (TOMA).
  3. Television coupled with digital & technology is the future.
  4. Few channels started to specialize in specific areas that made more business sense. Such as news or music.

Topic # 2 Struggle & Growth of E-Commerce

The opportunity to present unique Omni-Channel experiences can lead you to positive customer experience.

Key Takeaways –

  1. The transition/journey of Shajgoj into the E-Commerce arena from the beauty blog and beauty review content producer platform.
  2. The challenges in selling to female audiences are changing drastically.
  3. The challenge in training inhouse resources especially the males when it comes to understanding make up nitty-gritty.
  4. The importance of logistics management and how under-rated operation/logistic/supply chain management is for the industry!
  5. Females are more price-sensitive than men and they are not brand-oriented.

Topic #3 – Programmatic Advertising

It is the latest form of AI & tech-driven advertising that drives results across channels.

Key takeaways –

  1. Advertisers do not leverage the power of DMP although they should as it creates extreme value in the long run.
  2. Advertisers embracing programmatic buying goes on a campaign by campaign basis whereas the ideal scenario would be to leverage data from DMP and have a long-term strategy instead of treating each campaign separately.
  3. Businesses should have their own websites to benefit themselves, not DMP or advertising networks as it gives immense data about its users.
  4. Programmatic helps to achieve significant results as it places ads based upon data such as user behavior and interest. Thus, making more business sense.

Topic #4: Smarketing with Psychological Pricing

Have you ever gone shopping and walked out of the store knowing that you just blew your budget? We all have been there, right? The concept behind psychological pricing is that customers will read a slightly lowered price and treat it lower than the actual price.

Key takeaways:

  1. Different pricing models were discussed such as Gain-frame and Schindler & Kibarian.
  2. How the use of syllables and comma affect consumer psychology.
  3. How cents matter when it comes to pricing – for e.g $11.99.
  4. The right use of the comma in pricing.

Let us know, which one of the above made you regret missing the workshop? For the next event, be updated with Markedium.

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