Tuesday Nov 26, 2024
Tuesday Nov 26, 2024
Tuesday, 18 February 2020 00:00 - - {{hitsCtrl.values.hits}}
Top Sri Lankan marketers and CEOs shared knowledge and expertise on the future of marketing and the value of data in the digital age at the recently held Chartered Institute of Marketing (CIM)’s CEO
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Dentsu Grant Group Chairperson Neela Marikkar |
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CIM Vice Chair Leigh Hopwood |
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CIM Country Head Sri Lanka and The Maldives Onalie Dissanayake |
breakfast forum in Colombo.
The forum focused on ‘Is Data the New Oil?’ where advertising magnet Neela Marikkar, shared global trends and marketing shifts in the digital backdrop.
“Data has transformed businesses,” said Neela Marikkar, Chairwoman of Dentsu Grant Group, a 60% digitally driven advertising agency. “The top 5 most valuable companies in the world are tech companies and not oil companies. How data is used is a game changer in marketing. It gives an insight into consumers and help better target and customise campaigns that could give better ROIs.”
The CEO breakfast forum highlighted that Sri Lanka and many countries around the world underutilise this data resource as they don’t possess the tools to analyse or utilise this information to elevate their businesses.
“In Sri Lanka, there is a mobile penetration which is higher than our population and a smart phone and internet usage which is growing. What are we doing with the information we have of these users to provide appropriate and customised products and services?” Marikkar asked.
Marikkar went on to debate that data is often used to push out offers and messages but the true opportunity is being able to understand the different types of data, moments and preferences of loyal customers.
“Each company must have a Chief Data Officer. This role is vital in helping businesses gather, analyse and utilise the massive amounts of consumer data that is generated and share them for appropriate use with the management,” Marikkar said.
The panel discussion which followed was moderated by founding Editor of the Daily Financial Times, Nisthar Cassim. The panel consisted of industry figures including Kapruka Founder Dulith Herath, Neela Marikkar, and Colombo Creative Executive Director Dr. Miuru Jayaweera who shared their views on the topic.
The panellists expressed views about the many opportunities and challenges that digital marketing has to offer. They debated that access to reliable consumer insights in campaign targeting and positioning, is one of the biggest opportunities in the online and social media space.
Panellist Dulith Herath said that data analysis must be approached with care not to get carried away by the over analysis of data. Dr. Miuru Jayaweera shared that data was in fact a powerful tool in marketing. She said that data verification is an important element in ensuring that data used is genuine.
CIM is continuing to invest in the region, developing its network, expanding study centres and launching new ones in regions such as Kandy, Galle and Jaffna. The CIM community in Sri Lanka is the largest region outside of the UK and one of CIM’s most important regions.
CIM recently launched a new revised suite of qualifications designed to empower Sri Lankan marketers, equipping them with the skills to operate at the highest level. Additionally, there has been several conferences and discussions organised in the last year to provide marketers and CEOs the opportunity to enhance their knowledge and exposure in areas such as digital marketing.
Representatives from CIM at the breakfast forum expressed the need for marketers to align themselves and stressed the gamut of opportunities digitisation has opened up for marketers both locally and overseas.
The Institute has incorporated digital marketing to their course module since 2010 and offers a specialised digital marketing diploma to allow practicing and budding marketers to brush up digital skills.
“CIM’s digital qualifications are relevant and kept up to date through a continuous module assessment. In Sri Lanka, we have seen masters level qualifications growing and professionals keen on qualifying themselves. Our commitment towards members and students has led us to launch a specified and comprehensive digital qualification and all our regular courses are updated with digital marketing modules,” said Leigh Hopwood, Vice Chair of CIM, who was in Colombo for the forum and the CIM Sri Lanka graduation which was held last week.
“I want to take this opportunity to thank the volunteers who have supported CIM over the years, the members who have continued to stay committed, and everyone who has extended a warm welcome to us in Sri Lanka,” Leigh said.
CIM has made a serious commitment to Sri Lanka over the last year setting up a CIM office in Colombo to support the largest marketing fraternity in the world, outside of the UK.
Ian Marshall, Head of International Relations at CIM said that CIM plans to extend and expand its qualifications out of Colombo in 2020 to offer marketing qualifications to students and professionals in the outskirts and provinces.
“We want to increase the level of awareness for CIM and improve our engagement with businesses. CIM should be the first point of call for any recruitment of marketers. We also want to drive capabilities of individuals and businesses through similar events in the coming months,” he said. CIM branded short courses and professional seminars are in the pipeline to grow the marketing knowledge of students and working marketers.
Pix by Lasantha Kumara
