Friday, June 11, 2010

What would you loose if you earn 300 Rs in an year for nothing ( mGinger : The concept of targeted marketing)

Welcome to the information age where information is wealth, time is money and customer is the king. Every second of customer attention is so valued as there are so many marketing companies out there who are competing to get your attention. Remember that you(the customer) are creating so many marketing jobs and you are the reason that so many marketing guys out there are getting fat fat salaries and bonuses. But the irony is that the same marketing guys makes fools out of you by making you buy something which is of absolutely no use to you. They are mocking at you by using Salman Khan's to image to sell a Wheel detergent powder and Hrithik's fan following to sell a hide and seek chota biscuit pack.

Its time that we the customers(cum ad viewers) show that we are smart enough. Its time we show those so called marketing gurus that our choice is based on the true brand value and utility. And not on the brand value that any Bollywood actor brings along. I see targeted advertisement as a way to do it. Targeted advertising is advertising to the prospective buyer. What happens in mass marketing is that most of the ads that you watch are related to the products which we might never intend to use.(Just remember the Whisper,Kotex..... adso we see gusy.. ;) ) Whereas targeted advertising is a selective marketing strategy, where you first decide who your prospective buyer is and then try selling your product to them. It doesn't take a genius to realize that this has better probability of succeeding and hence better ROI. When mGinger introduced this concept in India, I was still a student then, and I was pretty much impressed with the idea. The inherent beauty of this idea is that all the three parties in action get to benefit. 
  1. The advertiser is happy because he get better return on investments. 
  2. The middle men(mGinger) is happy because they are making money by meeting the other two parties meet. 
  3. The consumer is happy because he is respected. (Salman Khan doesnt try to sell Wheel to him)

What makes it more interesting is that customer is getting paid for reading the ads. In an era where attention spans of the consumers are very less and loyalty is short lived, marketers had to find something to keep the consumers motivated. And they chose to go with the best motivation that man has always found very difficult to resist : money.  Though we(customers) always knew that our attention was always valued, getting paid for that takes it a step further and proves us with proof that indeed the marketers do really value our attention.

For  more details on mGinger click on mGinger

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