MMA Global India, successfully concluded the highly anticipated MMA IMPACT India 2023 event on May 30, 2023. This immersive marketing conference brought together the brightest marketing minds in India. The event showcased a series of engaging panel discussions, thought-provoking keynotes, and enlightening masterclass session, making it a true banger in the marketing industry.
MMA IMPACT India 2023 was held at the Taj Santacruz in Mumbai. The event witnessed an incredible turnout of industry professionals, marketers, and stakeholders, all eager to explore and navigate the evolving digital landscape. The venue provided a fitting backdrop for a day filled with stimulating discussions and insights that resonated with attendees.
The much-awaited Modern Marketing Reckoner 2023- an MMA & GroupM initiative: Transform to Thrive, was officially launched at MMA IMPACT India 2023. The event featured insightful keynote sessions that explored emerging technologies, the impact of Generative AI on marketing, the digitisation of commerce, and the evolving landscape of media. These sessions provided attendees with valuable insights and knowledge, shaping their understanding of current and future marketing trends.
In the session on Emerging Tech, attendees gained valuable insights into the role of artificial intelligence, data tech, ad tech, and immersive innovations such as the Metaverse, AR/VR, and their potential to enhance customer engagement and drive business results. The keynote session titled “Marketing in the Era of Generative AI: Challenges & Opportunities” explored the paradigm shift in the role of humans and AI in marketing. It discussed the transformational opportunities and formidable challenges that arise as AI surpasses humans in storytelling, image creation, melody composition, conversations, and virtual world creation.
The Digitizing Commerce session focused on crucial topics like O2O (online-to-offline) strategies, omnichannel approaches, and the power of exceptional customer experiences. The keynote session, “Creating A Seamless Omni-Commerce Experience,” delved into meeting consumer expectations of a seamless hybrid experience while rethinking omnichannel strategies. It provided insights on driving online and offline sales in the world of Digital x Physical convergence.
In the Media session, industry experts discussed new opportunities in connected TV (CTV), e-commerce advertising, voice and audio marketing, content marketing, influencer marketing, brand safety, and effective measurement techniques. The keynote session titled “Think CTV: What do we know about changing viewership & how does that redefine our marketing choices” highlighted the rapid growth of CTV as the fastest-growing screen on YouTube. It explored the changing viewership contexts and how brands need to redefine their media mix to meaningfully connect with premium audiences.
The combination of these keynote sessions and the comprehensive online primary study provided attendees with valuable knowledge about the industry’s perspective on ONDC, emerging technologies, digitising commerce, and media trends.
Moneka Khurana, Country Head & Board Member, MMA Global – India, emphasised the need for empowered marketers who can drive performance, leverage data and technology, and build brand reputation. She said, “While you are familiar with the theme, I would like to contextualise the theme differently, saying ‘Past vessels fail to contain the future’ and I truly believe so because this is really where we are, that too because of four key shifts that have happened across the board:
Technology shifts (AI, 5G, Blockchain and more), Power shifts (From Center to Edge; from institution to an individual; from consolidated to fragmented), Boundary shifts (Be it office/home boundaries, be it hierarchy changes or blurring of roles) and Mind shifts (Due to Generational Differences and change in consumer behaviour) because there are generational differences, in the light of which we are living in a way more empowered world than before hence it needs empowered marketers with a greater voice, I would like to call them full-stack marketers who can drive performance, and leverage data and technology while building brand and reputation. Hence its key to upgrade skills and capabilities for a world where marketing is not a sidecar attached to a motorcycle but the engine that drives it. With that context, it was a no-brainer which was Rethink, Rebuild and Relearn to create winning marketing organizations 2.0.”
Amit Jain, MMA India Board Chair and Chairman of L’Oréal India highlighted MMA’s commitment to creating an ecosystem that empowers teams to anticipate the future of marketing. He said, “MMA is emerging as a credible platform for a lot of marketers and stakeholders. MMA is an organisation making an impact on the modern marketing community in the country and it believes in helping marketers and their partners solve their impediments to growth. The kind of work being done here is cutting edge and I can assure you that you will be seeing some state-of-the-art marketing which you will have access to in the months to come. MMA is not going to be about just creating good content, but much more beyond that and this is an important commitment the board has made to itself. The approach it is taking is creating an ecosystem that empowers the teams to anticipate what is beyond the corners.”
A comprehensive online primary study was conducted in which 175 respondents participated. The objective of the study was to gauge the industry’s perspective on ONDC (Open Network for Digital Commerce) regarding the level of awareness, challenges and opportunities to be a part of the ONDC ecosystem. The study aimed to explore the potential benefits and challenges associated with ONDC and its potential influence on the future of digital commerce. Additionally, the survey sought to assess the likelihood of companies adopting ONDC and identified the key factors that could sway their decision in favour of or against its implementation. The study received feedback and valuable insights from over 175 respondents across the industry, whose perspectives were further discussed during a panel discussion. Attendees of the discussion gained valuable knowledge about the survey findings, shedding light on the impact and potential opportunities that ONDC presents within the digital commerce landscape.
Noteworthy highlights from the data include:
- An impressive 90% of respondents expressed their likelihood to adopt ONDC in some form within their companies.
- A significant 73% of respondents believed that ONDC could effectively level the playing field for small and medium-sized businesses in the digital commerce space.
- According to the respondents, ONDC holds the potential to transform digital commerce through market expansion, interoperability, and cost reduction.
- The majority of respondents, comprising 51%, expressed a strong belief in their company’s high likelihood of adopting ONDC in the future, while 39% considered it somewhat likely.
- A notable 54% of respondents believed that consumers would greatly benefit from the implementation of ONDC, gaining access to a wider range of products and services.
