About This Episode
Damandeep Singh Soni is a growth and marketing expert with an extensive experience of over 20 years in the marketing domain. During his previous stints, he served as the VP – Marketing at Milkbasket and Head of Marketing and Growth at Mobikwik.
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In this episode:
Priyam: How has COVID impacted you as a professional and the industry you operate in?
Damandeep: I consider myself both as an entrepreneur and as a marketer. And frankly speaking, both the roles have taken a huge hit.
→ Capital has remained a huge constraint. We are struggling hard to resource allocation and utilize the capital.
→ Funding has frozen up for the next few months and it is a strange time to survive in.
→ With supply and demand both getting affected, our marketing budget is getting drilled down.
→ ATL and BTL mediums are both proving to be highly ineffective. However, the digital grounds have shown some interesting insights with CPAs rising by 20-25%.
Priyam: Are there any outliers that are substantially profiting in the pandemic?
Damandeep: It is very obvious that the industries supplying non-essentials and catering to the physical world more are biting the dust.
→ However, those on the digital grounds are seeing an unexpected upsurge.
→ Digital Marketing Firms, Gaming Industries, OTT Platforms, all delivering on the digital mediums are flourishing progressively.
Priyam: What kind of economic revival time do you foresee post the pandemic?
Damandeep: It is pretty hard to depict the time when everything gets back to normal. It is going to take the whole of 2020 at least.
→ There is going to be a spike in demand soon after the lockdown ends pertaining to the pent up needs.
→ It is being experienced in China and South Korea as well, and it will have a similar impact here in India too.
→ People will fall for revenge buying a variety of luxury goods as well.
To gather more insights on the marketing strategies, check out the full episode!