Mumbai: The second leg of MMA Impact India starts today - Winning Marketing Organizations 2.0 (WMO 2.0) Rethink. Relearn. Rebuild.
MMA IMPACT India brings together the brightest marketing minds in India exploring how marketers can navigate the evolving digital landscape, drive innovation and enduring business value and more robust consumer engagement in an increasingly dynamic and connected world. MMA IMPACT India enables you to Rethink the execution methods, Relearn leveraging tech advancements, and Rebuild marketing organization structures that will help build Winning Marketing Organisations 2.0.
In the past three years India's digital economy has experienced remarkable growth driven by increased internet penetration, smartphone adoption, digital literacy, innovation, and government initiatives. The Open Network for Digital Commerce (ONDC) initiative by the Union Government emerges as a game-changer, ushering in a new era of open collaboration and seamless integration.
Indiantelevision.com in an email interaction with MMA India country head & board member Moneka Khurana and Open Network for Digital Commerce (ONDC) CBO Shireesh Joshi on the ONDC initiatives and how it will change the ecommerce landscape and how MMA Impact is helping the industry rethink, relearn and rebuild their organisations into world class entity
Edited excerpts
On specific regulations or policies been introduced or amended as part of the ONDC initiative and it's impact on digital commerce sector
As far as the e-commerce rules are concerned, when they were last published, they only dealt with e-commerce marketplaces as a single entity. As part of the revision that is currently being worked on, the idea that entities can play partial roles in a network is also being taken into account.
On the initiatives or programs has the ONDC launched to support small and medium-sized enterprises (SMEs) in the digital commerce sector
Together with other organisations and network participants, ONDC is developing a support system for SMEs in collaboration with other organizations. This includes support for the initiation of a project (digitisation of catalogues and inventories, training in basic E-commerce operations, etc.), good performance (sharing of best practices, handbooks, and video-based academies), incentives for the ecosystem, and transformational practices.
On ONDC gaining prominence, and the state of private players in this segment
ONDC is not the one who should answer this question. A response to this needs to be provided by the private players. Although ONDC is an inclusive network, we see immense benefits for existing E-commerce players as well. The majority of companies have begun integrating ONDC's initial foray, as is to be expected.
On the terms of industry collaboration and efforts MMA Global India has made to bring together various players in the digital commerce sector to support ONDC and foster innovation
MMA Global India has made several efforts to foster industry collaboration and bring together various players in the digital commerce sector to support ONDC and foster innovation. These efforts include:
. Organizing the MMA Digital Commerce Dialogues event, which serves as a platform for industry professionals to discuss and understand the potential of ONDC. This event encourages collaboration, knowledge sharing, and the exchange of ideas.
. Conducting the industry-wide survey that captures the views and perspectives of different players in the digital commerce sector. This survey helps identify areas of consensus, as well as challenges and opportunities for collaboration.
. Launching the ONDC playbook, which serves as a comprehensive guide for businesses seeking to leverage ONDC. This resource facilitates collaboration by providing a common framework and best practices for implementation.
On how MMA Global India ensuring the interests of different stakeholders, including businesses, consumers, and the government
MMA Global India ensures that the interests of different stakeholders, including businesses, consumers, and the government, are balanced and protected through the ONDC framework by:
. Advocating for the democratization and decentralization of e-commerce, which promotes a level playing field for businesses and provides consumers with more choices and transparency.
. Enabling POVs and thought leadership to drive education.
. Conducting the industry-wide survey to understand the perceptions, expectations, and challenges related to ONDC adoption. This helps in identifying and addressing concerns from different stakeholders.
. Providing a comprehensive go-to-market guide (the ONDC playbook) that helps businesses navigate the implementation process and maximise the benefits while considering the interests of various stakeholders.
On the insights on the industry-wide survey you conducted revealed about the state of adoption across digital commerce in India
The industry-wide survey conducted by MMA Global India provides insights into the state of adoption across digital commerce in India. Some key findings from the survey include:
. A high likelihood of ONDC adoption, with 90% of respondents indicating they are likely to adopt ONDC in some form in their companies.
. The perception that ONDC can level the playing field for small and medium-sized businesses, is indicated by 73% of respondents.
. The belief that ONDC can shape the future of digital payments by fostering the adoption of new payment methods and technologies, is expressed by 41% of respondents.
. The potential of ONDC to transform digital commerce through market expansion, interoperability, and cost reduction, according to respondents.
. These insights provide a snapshot of industry sentiment and help identify areas where further support and collaboration are needed for successful ONDC adoption.
On highlighting some specific examples from the ONDC Playbook that shed light on the challenges to the adoption of ONDC across sectors
The ONDC Playbook provides specific examples that shed light on the challenges to adopting ONDC across sectors. These examples may include:
. Technical challenges related to integrating existing systems and platforms with the ONDC framework.
. Resistance to change and the need to educate stakeholders about the benefits and potential of ONDC.
. Addressing concerns around data privacy, security, and trust in the new digital commerce ecosystem.
. Overcoming regulatory barriers and ensuring compliance with existing norms and regulations.
. Collaborating with different industry players and aligning their interests to drive adoption.
. The ONDC Playbook offers insights, strategies, and recommendations to navigate these challenges and maximize the benefits of ONDC implementation.
On the MMA Impact event contributing to the evolution of modern marketing practices
The MMA Impact event contributes to the evolution of modern marketing practices by focusing on key areas that are crucial in today's digital landscape. Attendees can gain several benefits from the experience, including:
. Data Strategy and Capabilities: The event helps marketers understand how to create a data strategy, build a robust data ecosystem, and develop data capabilities that drive growth. This emphasis on data-driven marketing enables attendees to leverage insights for more effective decision-making.
. Emerging Technologies: MMA Impact explores the role of artificial intelligence (AI) in marketing, data tech, and immersive innovations such as the Metaverse and AR/VR. Marketers can learn how to incorporate these technologies into their campaigns to enhance customer engagement and drive business results.
. Digitizing Commerce: The event covers topics like O2O (Online-to-Offline), omnichannel strategies, decoding ONDC (Open Network for Digital Commerce), and the power of customer experience (CX). Attendees gain insights into leveraging digital platforms and optimizing commerce in an increasingly connected world.
. Media Opportunities: MMA Impact delves into new opportunities in areas such as Connected TV (CTV), e-commerce advertising, voice and audio marketing, content marketing, influencer marketing, brand safety, and measurement. Marketers can stay ahead of the competition by exploring these avenues and adapting their strategies accordingly.
The MMA Global India has also been actively promoting and supporting the implementation of ONDC (Open Network for Digital Commerce) through various initiatives, surveys, and a comprehensive playbook. Attendees of the MMA Impact event can benefit from ONDC in the following ways:
. Exposing their brand to more consumers and breaking free from marketplace monopolies.
. Accelerating product launches and reducing the average cost per sale.
. Gaining richer insights into customer behaviour through the wealth of data received via the ONDC framework.
. Embracing new frontiers and trying different approaches in digital commerce.
Furthermore, the MMA Impact event provides a platform for dialogue and collaboration with industry leaders and experts. The launch of the ONDC playbook, panel discussions, and insights shared during the event will help marketers understand how to successfully implement ONDC and leverage its benefits for commerce-led growth in India.
On any highlights or unique aspects of the event's agenda that attendees can look forward to
Some highlights or unique aspects of the event's agenda that attendees can look forward to include:
. The unveiling of the ONDC playbook by prominent figures in the industry, Ghazal Alagh and Shireesh Joshi, who bring their expertise and insights to the launch. Here is the agenda
. A panel discussion featuring industry experts, including Naman Mawandia, Ritika Taneja, Shireesh Joshi, and Varadharajan Ragunathan, who will decode the highlights from the playbook and provide valuable insights on leveraging the ONDC network.
. A fireside chat with Moneka Khurana and Varun Alagh who will share insights on selecting the ideal combination of Sniper and Bazooka techniques for your company. The key takeaways included valuable tips and advice on finding the right balance between these two strategies, allowing businesses to effectively target their audience while still employing broader marketing approaches
. The keynote session by Rajesh Ramakrishnan, MMA India Board Member; Managing Director, Perfetti Van Melle India will emphasize the importance of transformation for companies to succeed in a changing world. The session also emphasizes the significance of having the right mix of hardware and software for successful transformation.
. A fireside chat with Amrita Thapar, MMA India Board Member; Chief Marketing Officer, Microsoft India and Samanyou Garg, Founder and CEO, Writesonic experts discussed the transformative power of AI in tackling complex real-world issues, highlighting its potential to offer innovative solutions. They emphasized the importance of collaboration and ethical considerations in harnessing AI's capabilities for problem-solving.
. Informative sessions and discussions on a fintech platform for business growth, the unveiling of a Global MMA study - The state of AI in marketing in the industry, unleashing the potential of AI for marketers, leveraging the ONDC initiative, its potential impact on digital commerce, and strategies for driving growth.
. Opportunities for networking and engaging with other attendees, allowing for knowledge sharing and building connections within the marketing ecosystem.
