What comes first, marketing or research? And of course, you will say research. However, when you are dealing with Brand Health Management, then both comes combined into a hybrid concept of marketing research.
Marketing research is more than market research, as after analyzing the results of your market research, it designs, develops, and runs the marketing and advertising campaign accordingly into your selected market, identifying your target audience and most probable future customers.
Proper market research prior to implementation always throttles up the chances of successful advertising. So, taking sufficient time and efforts to understand the magnitude of market and the extent of customer base is important for market planning. Correct estimation of efforts and research can be calculated only after determining the enormousness of the potential market. Efficient and properly estimated efforts can bridge the gap between the current market and the total potential market.
However, that is only the half battle, the other half being, gauging or measuring the effectiveness and success of your marketing campaign. Today, in the new age of digital everything including digital marketing and social media, you cannot measure the effectiveness or success of your brand building campaign by using age-old-traditional methods. These research techniques have a limited scope in terms of measuring campaign effectiveness and success and are unreliable beyond a certain point.
A lot of data regarding numerous products, product types and services has already been collected, analyzed and most of it is available in places, if one knows where to look at. Most of the data and numbers collected is abstract and proper analysis should be made to establish relationships between different metrics to use them as per your requirement, which is referred to as Modelling.
This is where Foxclues outshines everyone else as it is renowned for its stellar algorithms and accurate market research. Championed by Mrinal KJ, Director of Foxclues and the most trusted brand management partner in the industry today, the Foxclues team is dedicated in learning and implementing strategies to maximize the reach and acquire desired results. Foxclues focuses on the target audience base to obtain relevant information through exploratory analysis during the initial phases of Advertising.
Mrinal shares, “During the development stage of an advertising campaign, we will be closely monitoring the target audience for their opinions and feelings regarding the ad and if the concept we ensured is conveyed.”
After launching the advertisement, further feedback surveys and opinion polls etc. will be regularly conducted to obtain the audiences’ opinion about a particular ad so as to learn more and make necessary tweaks. This will enable the client to measure how efficient the services were.
During every phase of the process of crafting an ad, you will be offered a bunch of metrics, options and detailed analysis about the target market so that no part of the intended budget is wasted on irrelevant purposes and every penny and resource is utilized efficiently.
Today, Foxclues has a client base of over eight hundred, and membership of over thirty thousand professional. It also has three sub-brand verticals.
Mrinal adds, “We Promote the brands to connect with their customers using the internet and other digital ads of brands This includes not only email, social media, and web-based advertising, but also text and multimedia messages as a marketing channel.”
Speaking with Insights Success for its brand new edition of ‘India’s 40 under 40 Brightest Business Leaders’, Mrinal gave many more clues, insights, and plans about Foxclues past evolution, present success, and future of brand success mantra, in an interview, the excerpts of which are given here.
Please tell us about the saga of Foxclues since its inception.
I was interested in Media and Communications right from the beginning. I am curious about information, research and digitization of media. This always drove me forward. In the initial days, I used to work as a freelancer for various people and did a few internships to learn about work and the way the things work.
What was your inspiration behind venturing into the business arena?
Managing a business gives me an adrenaline rush and the day-to-day thrill keeps me engaged. There is no playing of safe game in here. One has to put some skin in the game and be ready for the things they are going to face. It is an intellectual warfare and it motivates me to keep going and be a better version of myself, every day.
What were the initial challenges that you had to surmount to ensure Foxclues’s success rate to reach greater heights?
There were many challenges during the initial days of establishing this idea, in its physical form. Being a newbie in the field, there were quite a number of financial troubles. Due to the lack of recognition, it was hard to get funding, hard to get clients to trust us with their work and people to work for us. There were a few loyalty issues with my team members as well. Money managing was a bit of a challenge as well. Due to limited funding, we struggled to distribute it amongst the necessary operations. However, they’re all a part of the journey, I believe.
What professional values and qualities do you think your clients value in you and Foxclues the most?
Clients value our loyalty and efficiency the most. They can see that we care about their aspirations as much as they do. They can witness that their money is not going down the drain and every penny will be accounted for. We offer the best services for the client and the results will actually reflect our efforts and the clients value it the most, in Foxclues.
What are the USPs that highlight Foxclues’ uniqueness in the industry you are catering to?
We are highly proficient in ‘Aggressive branding’ and it is the USP that is synonymous with ‘Foxclues’. We offer Aggressive Branding at lower charges in a way that are best suited for our clients. Clients can actually see the desired results and be satisfied with them. The pace at which the reputation of ‘Foxclues’ is growing, can vouch for this.
As an experienced professional, what would you like to advice the budding aspirants willing to enter the business world?
In this social media generation, the term ‘Business’ is highly decorated and misconceived. One shouldn’t enter the business world motivated by self-help books/videos, motivational videos etc. Because, the market is filled with competition and one should possess special passion for the work they do, in order to succeed.
In addition to this, one should clearly know that money is a tool to run business and it is inevitable to lose it, every once in a while. One should properly invest in learning different things and should know that money will be lost, in a business and should stand strong in such times.
One should also go easy on being extravagant or showing off. It is a human emotion to spend money once you start earning or exaggerate your achievements in front of people, but I believe, they will counter your productivity and reputation.
How do you envision Foxclues’ operations with the emerging technologies and automated tools that are revolutionizing the business world by enabling innovations?
We are working on Content-automation technologies and are on the verge of a breakthrough. We are working on integrating Artificial Intelligence in our strategic implementations to analyze and predict the best options for our clients.
I cannot put forward a time-frame however, surely and hopefully, we will be the pioneer of the efficient advertisement-automation technology in India.
