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Muntaziir Haider, founder of The Brand Consultants shares his thoughts on the marketing transformation in this episode of Engati CX.
Muntazir Haider is a seasoned entrepreneur, trainer, consultant, and coach. An MBA from IBA, bagging over 15 years of corporate experience, and running 8 businesses across 10 different countries and 3 continents – Muntazir is one of the pioneers of social media marketing in the region and has served brands such as Pizza Hut, Nokia, food panda, etc.
He is one of the leading marketing consultants today associated with USAID – providing marketing services to SMEs on a massive scale. Former CMO – foodpanda Pakistan & Brand Manager for Nokia & Pizza Hut Pakistan, Muntazir has diversified experience in a variety of sectors.
Interview with Muntazir Haider
The following section summarizes our interview with Muntazir. But if you'd like to hear the full conversation, we've left a link to the podcast below.
We first started with the static version of outdoor advertising with huge motionless billboards. Then after a huge span of time, we gradually moved to videos. It took a long period of time for the innovation to come in. But as soon as we saw the rise in social media, we saw a drastic change in outdoor advertisements. We went from static and motionless, to something that almost felt alive and was interactive.
Digital transformation has brought us a long way, and we’ve seen that technological advancement is need-based. But for outdoor advertising to survive in the long run, it has to be innovative of itself. Rather than having a push-based innovation, wherein social media comes by and brings about innovation. Muntazir would also like to note that the future of outdoor advertising is highly dependent on COVID-19. Because if people aren’t going out, outdoor advertisements will not work.
Even while marketing is undergoing a huge transformation due to the rise of digital, there are some basics to keep in mind. The basics of marketing are to understand the customer. But we’ve seen a lot of businesses go down due to a lack of focus on customer. A lot of focus instead goes on how the brand manager or business owner wants to drive the business. Here is what to keep in mind going forward.
The keyword is data. It’s the foundation of strategy, it helps with our decision-making. And it answers all of the questions- the who, what, when, where, why, and how. To understand your customers, Muntazir would analyze them. For example- he would go to Foodpanda’s website, select a likely area, then select a cuisine, then they’d pick a restaurant and decide what to eat, and then check out.
These are 4-5 different steps, so Muntazir would then make a funnel of say 100 people, 90% would select the area, 80% would select the cuisine, and so on. When we reached the final stage, it only came down to about 10%, so there was 90% leakage. This is where tech helps, we noticed where the numbers were falling off, and now we know where we have to improvise.
AI has changed drastically the way things are and in 5 years it will continue to change more.