Hindustan Unilever COO, Harish Manwani shares some key insights on India’s digital market as part of his AGM speech to HUL employees.
Some of the interesting, thoughtful pieces from his speech, which we believe should be read by the wider community of marketers and entrepreneurs are below.
Social Media is MUCH bigger than Paid Media.
“The Internet is changing the way brands engage with consumers. There is a blurring of lines between advertising and editorial; between ‘paid’ media in conventional channels and ‘owned’ and ’earned’ media in emerging digital channels. Mobile, social media and big data are transforming the very nature of marketing.
..We have not just significantly increased our investment in digital media but are also innovating to increase our impact in this space.
The urban middle class consumers are changing the way they shop and buy. These consumers are researching brands and products, comparing prices across multiple locations and are open to ordering from anywhere, anytime. These consumers are ready to try new products and services and are willing to spend on brands that match their aspirations.
On Corporate Winners
While technology and innovation will be the hardware that drives future ready organisations, it is a values-led and purpose-driven leadership that is the software that must drive sustainable and responsible growth. It is this combination of hardware and software that will shape the corporate winners of tomorrow.
» Read the entire speech (PDF).