CMOs Journey To The Tipping Point

Banking Frontiers sought to understand what it takes to reach the tipping point from the marketing perspective. Five CMOs from the BFSI industry revealed to us their understanding and their approaches, which we have divided into 5 parts: (i) Key factors in the journey to the tipping point (ii) Judging the distance (iii) Optimize spending efficiency (iv) Nudging customer interaction, and (v) Leveraging traditional marketing channels:

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Part 1

Key factors in the journey to the tipping point

CMOs explain the various approaches and factors that help reach the tipping point:

The tipping point of the campaign is the time when there is a rapid increase in the views of the campaign and a rapid increase in sales and adoption. Data analytics helps to provide real-time data and it helps to find out the tipping point of the marketing campaign.

And then there is the role of social media. Anand Bhatia, CMO, Fino Payment Bank shares its role: “Social media is playing a very big role in finding out the tipping point of the marketing campaign. Influencers in the social media platforms like Instagram, Twitter, Facebook, Snapchat, etc, help the brands to reach out for the tipping point of the marketing campaign.”

Anand further adds: “The brands that promote clear messages have a good chance of reaching the tipping point of the marketing campaign frequently. For example, Cred has a clear message ‘download Cred’. This clear message attracts the customers, and the campaign can go viral when there is an increase in downloads and the objective of the campaign gets achieved it also creates an urgency to download the app. We have used the similar approach, our tagline for the marketing campaign is ‘Become Fino merchant now you are missing an opportunity.’”