Relaxo Footwears: Future Ready
Q] Can you shed some light on your brand journey and how it has strengthened over the years? Also, what innovative marketing strategies do you use to reach out to the masses? Q] Which medium do you aggressively target for your brand visibility and why? Can you elaborate on how you allocate your marketing budget on various platforms? Q] What trends are you observing related to the slowdown? What is the way ahead? Q] Do you think post-pandemic, the brand messaging and propositions in India have changed? Q] Do you still advertise on TV despite the slowdown? Can you share some insights on how you market your brand via TV? Q] What is your media spending like at this point? How much of your marketing budget goes to TV and Digital? Q] What is your roadmap for future growth?
Our brand journey at Relaxo Footwear has been a testament to our commitment to quality, comfort, and innovation. Since our inception, we have continuously strived to elevate the footwear experience for our customers, catering to their evolving needs and preferences. Over the years, we have focused on strengthening our brand through several key initiatives. First, we have invested significantly in product innovation, and second, we have prioritised customer satisfaction and engagement, building strong relationships with our loyal customer base through exceptional service and personalised experiences.
Regarding marketing strategies, we have adopted a multi-faceted approach to reach out to the masses and create meaningful connections with our target audience. We leverage digital marketing channels extensively, including social media, search engine optimisation (SEO), and digital advertising, to engage with consumers. Additionally, we prioritise storytelling and brand narrative in our marketing communications and actively engage with influencers and brand ambassadors.
Our marketing strategy focuses on a multi-channel approach to maximise brand visibility and reach our target audience effectively. While we allocate our marketing budget across various platforms based on the specific objectives of each campaign and the behaviour of our target audience, there are certain mediums that we aggressively target for brand visibility. One such medium is Digital Marketing. It allows us to connect with our audience in a personalised and interactive manner, leveraging engaging content and influencer partnerships to drive brand awareness and engagement. However, while Digital marketing is a key focus area for brand visibility, we also recognise the importance of traditional channels such as Television, Print, and Outdoor Advertising, especially in reaching broader audiences and reinforcing brand recognition.
For budget allocation, we adopt a data-driven approach, leveraging insights from market research, consumer behaviour analysis, and past campaign performance to determine the most effective distribution of our marketing budget. We prioritise channels and tactics that have demonstrated a strong return on investment (ROI) and align with our marketing objectives, whether it is driving sales, increasing brand awareness, or enhancing customer engagement. Furthermore, we continuously monitor and evaluate the performance of our marketing activities.
We have been observing a few critical trends related to the slowdown, and several key observations and strategies are emerging. First, there is a shift in consumer spending habits – we see consumers becoming more cautious with their spending habits during economic slowdowns. Second, an increased focus on value and affordability – consumers seeking value-oriented products and brands that offer quality at affordable prices. This trend presents an opportunity for us to emphasize its reputation for providing comfortable and durable footwear at competitive price points. Third, digital transformation and e-commerce growth – with more consumers turning to online shopping during times of pandemic, there has been a surge in e-commerce sales. We are in the process of enhancing our online presence, optimizing the e-commerce experience, and investing in digital marketing efforts to reach and engage with customers effectively. And finally, strengthening customer relationships – building strong relationships with customers through exceptional service, personalised experiences, and effective communication that can foster loyalty and drive repeat purchases, even during challenging economic times.
Our promotional efforts encompass a mix of traditional and digital marketing channels, including advertising, social media, influencer partnerships, and retail activations to reach and engage our target audience effectively. As for the impact of the pandemic on brand messaging and propositions in India, we have observed several shifts in consumer behaviour and preferences. In terms of health and safety, there has been an increased focus on hygiene and comfort in footwear choices. We have adjusted our messaging to emphasise hygiene features and comfort. The pandemic has also accelerated the adoption of e-commerce, with more consumers turning to online channels for shopping. Keeping this in mind, we have strengthened our online presence and digital marketing efforts. Furthermore, economic uncertainties have led consumers to prioritise value and affordability in their purchasing decisions, and we have emphasised our competitive pricing and value-for-money proposition in our brand messaging. There has been a greater emphasis on community and connection, and Relaxo is focused on building emotional connections with the audience through authentic storytelling and engagement initiatives.
We recognize the importance of maintaining a diversified approach to advertising, even during economic slowdowns. While digital platforms have become increasingly prominent in recent years, television advertising remains a valuable channel for reaching a broad audience and reinforcing brand awareness. It helps us to reach out to a wide range of demographic groups, including our target audience of men, women, and children across various age groups and socio-economic backgrounds. Additionally, TV commercials provide an opportunity for us to tell compelling stories about our brands, showcasing our products’ features, benefits, and unique selling propositions. Not to forget that it also offers massive visibility and exposure, particularly during prime-time slots and popular programmes. This exposure helps increase brand recall and top-of-mind awareness among consumers. Other than this, TV also complements Digital strategies to reinforce our message.
As of now, Relaxo Footwear allocates a significant portion of its marketing budget to both traditional and digital channels to ensure comprehensive brand visibility and engagement with our target audience. While the specific breakdown of media spending may vary based on campaign objectives, market dynamics, and consumer trends, we strive to maintain a balanced approach to reach our audience effectively across multiple touchpoints. As such, we prioritise investments in digital marketing initiatives to capitalise on opportunities for audience engagement, brand interaction, and conversion optimization.
We aim for product diversification, expanding our product offerings across all our brands by introducing new designs, styles, and categories to cater to evolving consumer preferences. We want to broaden our geographical footprint by entering new markets to unlock untapped growth opportunities. In terms of Digital transformation, we are committed to leveraging technology and digital platforms for an enhanced customer experience, streamlining operations, and driving online sales. Brand building is yet another focus, as we want to invest in building and strengthening our brands’ equity and presence in the market through strategic brand positioning, effective communication strategies, and engaging marketing campaigns. Driving innovation in product development, manufacturing processes, sustainability, and customer-centricity are also very important for us.
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