The practice has been in the beta for the last six months, and will bring together skills in the areas of marketing strategy & activation; data & analytics; media impact; creative effectiveness; martech platforms; marketing culture; people, process and KPIs; pricing strategy; promotion effectiveness; product packaging; synergies between marketing and sales; owned and earned dollars; etc. Available to both current and non-current clients of Entropia, the practice will work independently of operational teams, and will report directly to the partners, as well as the client-side leadership of the business.
In today’s immensely competitive environment, the practice offers businesses an independent, holistic and forward-looking diagnostic of where their marketing investments are going, and what it is truly bringing back for the business. As marketing has become more complex due to the advent of data and tech-mediated lives, many traditional marketing models are less effective, and the new models are still being tested. This naturally creates the need to reassess the return on marketing investment with a whole new frame of reference.
Prashant Kumar, Founder & Senior Partner at Entropia said – “The holy grail of all we do at Entropia is understanding the intricacies of return on marketing dollars. As the line between marketing and sales; media and shop; demand and supply chain, blur in one seamless data narrative and tech stack, it’s important to reappraise if the old standards of success still hold. We are excited about how this practice, as the insider-outsider, can bring value to the client’s demand ecosystem.”
“There is a lot of irrational change-peddling going on in the name of digital transformation and under the psychosis of disruption. In this fog of future, knowing what works and doing what matters is the only true beacon,” he added.
Several traditional businesses, which built great brands by leveraging the power of traditional marketing in much simpler times, have struggled recently to put their finger on which half of their input is working and which half is not. Ironically, it was the great promise of digital marketing to address this problem. However, as serious monies are poured into the new platforms, businesses realise that once the low hanging fruits are taken; the old issues of attribution, funnel management, synergies and through-the-line efficiencies have only become trickier. Furthermore, the fragmentation of sales channels, delivery mechanisms, payment mechanisms and the advent of disruptive pure play companies in every sector – often from unexpected quarters – have made old norms obsolete and margin management that much more difficult.
Adding further, Sourabh Agrawal, Partner, Entropia commented – “The need to have the right return forensics via a dynamic and holistic model that cuts across right brain and left brain; upper funnel and lower funnel; mass media and microtargeting – is that much more critical today. There are too many narrow and blinkered partisan views telling businesses their own version of “ONE TRUTH”. We hope we can bring a complete and nuanced picture there.”