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The CMO’s MO (modus operandi), spotlights some of India’s top CMOs as they share their marketing mantra, trends for the future, and what keeps them up at night while giving us a peek into the person behind the title. Here we chat up with the who’s who of the country’s leading marketers, keep the tone conversational, crisp and throw in questions that allow leaders to shine a light on their personalities, plans, and passions projects for the year ahead.
Having been in the thick of advertising with stints in Lowe Lintas, Leo Burnett and Swamy BBDO, armed with more than 15 years of experience in marcom and brand strategy for multiple industries and geographical locations, to now serving on the brand side, life has come full circle for Sujay Rachh, chief marketing officer, Nuvama Group (formerly Edelweiss Wealth Management).
In this week's edition of CMO's MO, we have Rachh sharing insights on how the brand plans to transform the Wealth Management space, and on finding animated movies more enjoyable than any other genre. Scroll on...
1. What are the three biggest marketing challenges for your brand right now?
- Making Nuvama the wealth management brand of choice for the affluent segment. This involves shifting our focus from product selling to portfolio advising, ensuring a comprehensive and tailored approach to meet our clients’ financial needs.
- Make Nuvama the perfect employer brand – attract and groom talent. Position Nuvama fostering a culture of Doing-It-Right in and outside the organization. Stand tall for culture of integrity, collaboration, and employee satisfaction making Nuvama a great place to work for.
- Have a meaningful ESG footprint – that makes Nuvama a socially responsible brand. Cultivating a program that walks the talk in the area of ESG is a critical aspect of our marketing strategy. We aim to fulfil this by concentrating our efforts on building a module around financial inclusion.
2. What are the three biggest opportunities for your brand?
- Movement of wealth from first gen to second gen and second gen to third gen, the transference is clear, and the attitudes of this generation are different. This intergenerational transfer of wealth poses a splendid opportunity for Nuvama to forge relationships with this new generation. With the integrated platform offering by Nuvama Group, the organisation is at the forefront of benefiting from this opportunity.
- The Rise of Tier II, III, IV markets as a source of economic prosperity and thus rising affluence - this entails a whole ecosystem of wealth managers being created specifically for such clientele. With deeper penetration into the non-metro market, Nuvama Is well-positioned to ride this growing wave of wealth.
- Growing affluent investors leading to sophistication of products and innovation a theme largely being played out now across the country and the need for specialised advisory. Democratisation of financial assets has led to a lot of money flowing into products apart from traditional assets like gold, real estate, savings and now MFs since the last decade.
Gearing up to dive into a sea of opportunities
3. Where are you investing your marketing budgets this year? In what areas are you increasing or cutting spend?
Our marketing budget allocations are strategic and involve a holistic approach to positioning Nuvama as a brand of choice.
Nuvama is investing in creating thought leadership communities – driving a voice for the wealth management industry. The goal is to engage with both existing and potential clients, channel partners, distributors, regulators and other important stakeholders to build trust and credibility.
Nuvama is investing in CX for the mass affluent investors – by directing our budget to enhancing the client experience to match the levels of experience that a private banking customer enjoys. We want to ensure that our clients see the do-it-right and therefore experience a customised and enhanced level of services
Nuvama is investing in becoming a socially responsible corporate citizen.
4. Complete the sentence: “Today’s CMO must be ….”.
On the path to becoming the CEO of the organisation and therefore must learn all that it takes to be one. Along this path, the CMO must not lose the streak of being a 'creative problem solver' – something that he/she is always looked at for - overcoming unique challenges with creative solves and innovative solutions.
Cherishing peaceful moments with his little navigator
5. What kind of a CMO are you? Answer using a maximum of three adjectives.
Adventurous, curious and humble.
6. Tell us one personal thing about yourself that others might not know.
Although I've experienced the adrenaline rush of skydiving, the idea of bungee jumping terrifies me. When it comes to movies, I don't really act my age. I find animated movies more enjoyable than any other genre.
7.. What’s your favourite brand campaign that you participated in?
Created Unilever’s most viral video campaign – Surf Excel’s 'madad ek Ibadat' campaign – which became a phenomenon and got a nation behind it. Another piece I am proud of is the work done to ensure that the youth of the country don’t lose interest in cricket - 'Carry the World Cup' for Starsports.com/ Hotstar.
8. Name another brand (can’t be yours) with an amazing customer experience that you really admire. Why is it great?
ID Fresh. Innovation is the key to how a customer experiences the product. And ID Fresh has innovated from the word go. From well-fermented ‘Idli’ batter, perfect ‘vadas’, filter coffee to ‘parottas’ and grated coconut in coconut shells to now, finally, a butter stick. Customer delight across all its product ranges.
9. What keeps you up at night as a CMO?
The eventual birth of another platform where my brand needs to be relevant.
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