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December 27, 2022

It’s only data that can actually give us the correct picture or else will always continue in the wrong: Devi from LoanTap

A Computer Science graduate, Devi, worked for two years into coding and development before moving into marketing. He has worked across different roles in marketing and Communications. He has also been recognised as 25 emerging digital leaders. Here is his Story: Transcript (auto-generated) 0:00 whenever we see a problem, we start assuming you know the […]

It’s only data that can actually give us the correct picture or else will always continue in the wrong: Devi from LoanTap

A Computer Science graduate, Devi, worked for two years into coding and development before moving into marketing. He has worked across different roles in marketing and Communications. He has also been recognised as 25 emerging digital leaders.

Here is his Story:

Transcript (auto-generated)

0:00 whenever we see a problem, we start assuming you know the root cause to be something that we are familiar with and it’s only data at this point that can actually give us the correct picture or will always, you know, continue in this wrong, maybe not the correct direction, that will end up consuming a lot of time and effort but will not be able to solve the problem right now.
0:35 I’m into digital and pr and communications but I started back as a competent science engineer here in pune but I was into B.F. S. I.
0:48 And for about 2.5 years I was all into coding and development and then you know, I moved to marketing And again like in the last 67 years I have been into you know different divisions of marketing like starting from you know account planning to media planning to content to you know performance marketing and social media and now you know I’m like seeing all of it together.
1:25 so yes have moved you know I’ve worked with some some of the biggest agencies in the country and with some of the biggest brands at least I can say that for BFS side and yeah, so that’s how my journey has been picked up a little from here.
1:47 I picked up a little from there and then I’m trying to have it all put together because I started with you know digital performance marketing.
2:04 So have always you know being familiar or I have always got this exposure to data at least if not for all at least for the google campaigns of the facebook campaigns.
2:18 But then it was very superficial, I would say like we know that we have certain Gps and then we have to track the data for certain things on.
2:27 But as an on I went on I always had this in mind that data is mostly used for digital campaigns and for other 80 l or let’s say a tv campaign or even pr data might not be that important because we look at only a certain things made for tv campaign GRP works or you know just the region circulation for a printed.
2:51 But then there were certain instances you know, which made me realize that data is actually helpful in almost any kind of campaign and in any kind of situation, I would actually like to share one you know incident which happened So we had a we were running a campaign for this you know big Davis I client and it was a tv campaign.
3:16 I mean it’s it’s all media campaign but major was given because that was the most expensive quick.
3:24 We were looking at certain G. R. P. S.
3:27 Nationally.
3:28 And then we also had these, you know kpi is for achieving certain G. R. T. S in every region.
3:35 And then we realized that we are getting the G. R. S.
3:38 Nationally we’re getting the G. R. P. S.
3:40 And all the regions except for bihar and we were running only prime time ads.
3:47 So initially we were confused about what’s going wrong, we started talking to you know the channel representatives and asking if the ads are running fine if there is any problem, if something has happened with the show and things like that.
4:00 And for a few days we had no clue what was happening because it was all prime time ads everywhere is performing.
4:08 and that’s when we started, you know, diving deep into data.
4:11 We started looking at, you know, add specific data, we started looking at you know, time specific data and then we realized that the way the entire country functions in terms of a prime time doesn’t function that way.
4:28 Like when the G. R. P. S will go up between eight PM to 10 PM for the entire country bihar, G. R. S will actually go up in the afternoon.
4:37 And this is something we realized and then we made changes to the campaign and then we were able to achieve the required GR isn’t bihar as well.
4:46 So this is something it was strange because I believed something else and and only after looking at data and going through all these associates, we realized that you know, the friend is really different.
5:02 So we always get you know, and and this is my personal experience with myself and also with the team.
5:10 I have seen that whenever we see a problem, we start assuming, you know the root cause to be something that we are familiar with and it’s only data at this point that can actually give us the correct picture or corals will always continue in this wrong.
5:31 maybe not wrong, but maybe not the correct direction that will end up consuming a lot of time and effort but will not be able to solve the problem.
5:41 So it’s very, you know, it’s it’s a good idea or probably the best idea to start looking at data from, you know from the beginning itself.
5:53 So that has actually started, you know, making me look at data for every campaign, every activity.
6:01 We do be the simple mail.
6:03 We start looking at all the, you know, all the data points in the funnel be, even for the pr activities that we do.
6:14 And it’s very interesting that when we look at data, especially in terms of, you know, completed data, that gives us a lot of idea, not just about, you know what to talk about about how we are performing.
6:34 And it also gives us a lot of ideas about what should be the next thing that we speak about.
6:44 We have been trying to, you know, so majorly when we do, we we try to focus on either quotes or we try to focus on industry stories or maybe some authored article which actually talks about you know the different offerings or the USPS or how we are compliant with you know the regulators and things like that.
7:08 And and this we have been doing for something when we started looking at and like I told the computer data that is also very important.
7:18 we got idea about what are the other topics people are covering.
7:24 We had seen that you know at least post March, there had been a decline in, you know, in terms of the number of applications we have been receiving or in terms of the number of leads we have been receiving to be more precise.
7:45 Again the conversion rates have also gone down in the past few months we realized that one of the problems could be and and this is again by looking at data from what people have been posting on our social accounts, what people have been putting on reviews and again what the computer was doing all the kind of content that they have been post posting.
8:11 We got a sense that somewhere there is this distrust that has, you know, started building up with certain cases that have come up especially about the chinese lending apps and fraudulent loan, all the you know practices of collection, you know, which we will not appreciate.
8:35 So we started developing using this insight to start developing content against you know the fraudulent loans And we created a nice campaign on pr we had a few articles written post.
8:52 Those articles were carried by some you know, some of the publications, we also started reaching out to some of the influences, you know, who would create micro influencers, who would create content and talking about how you know, you can avoid getting into this trap because we are also members of face you know faces this association for you know printing station for Consumer Empowerment.
9:21 so we were in touch with them and they also gave us pointers about you know, how someone should avoid getting into this trap.
9:29 But the steps someone should check if the lender is correct or not and about the guidelines that are being is laying out, we took this all we created content that burnt in articles and that went on influence of marketing as well.
9:47 And we got amazing results out of that.
9:51 Not just that, you know, we started seeing people approaching when we were seeing a lot of people you know talking about the distrusting loans on the on our social media channels.
10:06 We started seeing people asking if if we offer education loans if we offer, you know, other sorts of loans on social media and instagram posts.
10:14 And and that was really interesting and and somewhere because I believe that it added value.
10:23 first I think that there’s this exchange for media awards which is happening today, I think as we speak, we have been nominated as one of the finalists in that for this campaign.
10:42 so I think yeah, it did add value directly to the customers and I think people did see value in the campaign.
10:50 in fact this ideas Mumbai they have a marketing club, they took it as a mini case let and they had put it as a story on their social media channels on these, you know, these campaigns.
11:06 And so it was really nice to see that, you know, these small efforts which which actually is making impact.
11:15 So had we done something based on, you know what we think, what we assume it might not have had this impact, but honestly, because we tried to see where, you know, where something is needed where you know what kind of communication is actually the need of the art and we tried creating something, I think that was a perfect match and that’s the reason why, you know, things turned out the way they are.
11:46 So I think yes, somewhere it’s very important.
11:49 I mean, believe me or not, maybe a year back, I never believed that we are would actually need to look into any kind of data, it’s all about, you know, what press releases we are rolling out or any anything that we just want to communicate because in fact I had never thought that we can actually use data to create more effective communication.
12:21 One thing like I told the most important for us right now, at least that we have learned is computer analysis and the first thing is we look at, you know, we have our direct set of computers and we have our indirect set of computers with the direct set of competitors, we try to look at the share of voice and every day we track that how many articles people are publishing, how many articles we have published, how many mentions we have got and, you know, what are the topics we are building?
12:56 And again, we also keep a track of which all can a publications we have touched and this gives us a plan for the month, we have a certain target that we need to be present in this, this, this publications by the end of the month because they have a cumulative reach of such and such number.
13:17 So if we want to reach out to this many people, then we have to keep a track of where we are, you know, getting published.
13:26 So this is the first thing we do, this is done on a daily basis and then we have a weekly review on that so that we can plan the next weeks accordingly.
13:34 , so for pr yeah, I think these are the two most important things, the computer analysis and the share of voice and yeah, similarly for all the campaigns, of course, when I talk about a performance campaign, there are a lot of things that we look at starting from, you know, starting from the impression share to, you know, end last mile conversion and throughout the funnel we, you know, we look at where we are seeing the drops and that, that’s very important because again, what happens, the marketing and technology in any organization, then this is what I’ve seen in at least organizations, I have worked for all the, you know friends I know and this is pretty much common in almost all the organization’s marketing and, they have their own set of work and they are pretty much involved, they do collaborate, they do talk to each other, but then there is always a gap.
14:36 So what happens if there is, you know, some issue in, you know, in some place of the journey marketing is running the campaigns to fill the top of the funnel, but there is a small glitch somewhere or some bug somewhere in the journey and the final is not filling out, then it’s very important that there has to be a real time.
15:02 you know, someone is monitoring the drilling, we found it really important when, because we have put this, you know, trafficker funnels on GFO, that we have started using recently,, once there is a similar problem and before the tech team could actually flag this you know, our performance team was able to flag this that at a certain point, I’m not seeing any conversion in the final the there is a complete drop out.
15:32 So this is again where we were able to flag it and immediately it was a result.
15:36 So yes, for performance, there are a lot of data points we look at and similarly for when we are into branding campaigns, again, we try to tie it back to performance.
15:49 We look at the reach, we look at the C.
15:51 T.
15:52 R.
15:52 S.
15:53 but the most important we see what kind of communication is getting, you know, better engagement.
16:04 So we are we have been using visit key and especially the new score that that’s really helpful for us.
16:11 We you know, we have started putting up putting that up in the, you know the monthly performance reports that show because I think that’s a very holistic thing.
16:20 And then we tried to use a similar thing of our own to create a social score for the social media activities that we are doing.
16:31 you know, a single comment score that looks at it, you know, all engagement and impressions and clicks and everything to put together.
16:39 Yes.
16:41 mostly we use a lot of we used to you know, see a lot of google analytics now we’re shifting to GFO and for the mobile marketing we we use branches are MMP but then we are seeing that although G4 is a little there is a little lag and you know there’s a we don’t get real time numbers but it’s really helpful because we are able to see web and app everything together in one place and you know even our campaigns are linked to it everything in one place.
17:19 So that’s also really helpful for us right now.
17:26 So I think the biggest thing is you know bringing the trust back.
17:34 I think people read a lot of stories.
17:37 People do consume a lot of news.
17:39 People.
17:41 and especially post covid are starting from the times of Covid, the consumption of content has increased multiple.
17:49 So when there is this doubt, I think with good positive pr stories that’s going to create a big impact in reviving the economic reviving the you know spending behavior and reviving in bringing things back to normal.
18:13 I think one gap which I personally feel especially comms and branding, they’re seen together they tried you know for any brand, these are used to create you know the brand trust and create this perception and performances seen separately to bring business and convergence.
18:36 If these two you know directly be correlated right now it’s more of our cause and effect thing.
18:44 But if there is a direct correlation, there is a direct you know in fact that I can see, rather than assuming, then I think that would solve a big problem in this big cap.
19:02 So a lot of things I have gone through, I have seen and then when I’ve been building up teams, I have seen you know, people who join my team, when we come out of the college, we have gone through a lot of histories, we are very, you know, export in our approach.
19:22 And because most of us have come from these cities, maybe you know Mumbai or Delhi or Indaba, the Bangalore, we, you know, start thinking things in that way, like we start taking that as the natural setting.
19:40 It’s very important to understand the consumer first, now there will be some brands who are very tier one city, you know, serving tier one cities only, this works fine.
19:52 But then when there is a brand which is more, which is a more nasty presence, it will have a bigger number of volume or the bigger volume of the customers will not be from tier one, there will be from tier to tier three or even the rural population and the way they take a decision, the way they take a call about purchasing something or going out with the service is very different from the way someone from Mumbai Delhi or Bangalore will do.
20:18 So it’s very important that you know, someone who’s just entering, you know marketing, especially digital marketing or even we are to understand what the consumer wants because the communication has to be consumer driven, then the consumer will be able to relate otherwise.
20:36 There are a lot of campaigns, a lot of activities we would do, but then they would just be, there did not make that impact.
20:43 So I think it’s very important to spend time and look at who the exact consumer is, who your exact customer is.
20:53 And, you know, start thinking from their perspective.

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