Creative agencies are like the hyphen between brand-publisher, says MVS Murthy of Tata Mutual Fund

Many brands want to experiment with branded content but only a few are convinced with the results it can fetch. Talking about the reason behind such behaviour, MVS Murthy, Head of Marketing and Digital Communications, Tata Mutual Fund, explained it well through the classic example of the ‘traveller’s dilemma’.

“I need a vacation but am not sure if I can afford it. Is it the right place? Will I enjoy it? And dilemma like these. Since branded content is a long-term and highly visible format, the questions of failure, adequate brand coverage, etc., come up and hence we stop short. Branded content comes way up in the evolution of a brand’s journey. A promising brand will need to bring more gravitas before being able to dominate the content,” he said.

When a brand embarks on its branded content journey, it should have trust in the capabilities of the content creator/publisher. The brand should give enough creative freedom to the publisher to subtly integrate the brand in the content, rather than asking to show it more in the face.

Murthy explained by giving the example of a ‘traveller’s dilemma’, “Like the travels you enjoy, there needs to be participation from the brand owners to iterate the journey and customise some aspects of it. Publishers have the benefit of hindsight, but what’s right for the brand is known to the marketer.”

He talked about the role creative agencies play in brand-publisher partnerships, finding a balance between the ethos of the two (brand and publisher) and the evolution of measurement metrics of branded content.

Excerpts:

When is branded content the right choice versus other forms of advertising? How does a brand decide?

For the brand to decide to invest in branded content, there has to be a context in which the brand has to fit in. And audiences are sharp, they will call out a force fit. Sir Richie Benaud once said that the key thing was to learn the value of economy with words (brand) and to never insult the viewer by telling them what they can already see – they get it.

More brands want to take the branded content route, yet few are convinced of the results. Why the dilemma?

It’s a classic traveller’s dilemma. I need a vacation but am not sure if I can afford it. Is it the right place? Will I enjoy it? And dilemma like these. Since branded content is a long-term and highly visible format, the questions of failure, adequate brand coverage, etc., play up and hence we stop short. Besides, I personally feel branded content comes way up in the evolution of a brand’s journey. A promising brand will need to bring more gravitas before being able to dominate the content.

Publishers understand their audience best. Would brands find more value in trusting publishers on how much to integrate the messaging in branded content?

Yes, it is better to take the views of the publishers. However, like the travels you enjoy, there needs to be participation from the brand owners to iterate the journey and customise some aspects of it. Publishers have the benefit of hindsight, but what’s right for the brand is known to the marketer.

Brands are today creating their own content as well. Can publishers do it better?

The core of the brand will always be known by the marketer. The publishers can improve delivery from the perspective of formats, frequency, TG identification and enhancing the core content. Publishers need to connect with the brands more now due to the growth of ‘cloud talent’. There are more bright minds out there working on independent projects, with brands, whose marketing teams anchor the act. Of course, publishers will have much higher production quality or delivery mechanisms, since the brand does not own the medium yet.

Branded content has come afar in the past 2-3 years. Do we all agree on the success metrics today? How do we measure ROI?

One of our most successful branded content is Professor Simply Simple and Suppandi in association with Amar Chitra Katha. This is a very successful campaign for the mutual fund industry. Not only potential investors, but all our channel partners also love it. People relate really well with these two properties, which has led to the success of the proposition. As regards metrics, we did a small change about three months back. We used this branded content to increase awareness and this was measured by a jump in website traffic by 4X where the content is showcased.

Branded content works well for publishers and brands. But what is the future of the creative agency in this new mix?

The creative agency is the co-custodian of the brand’s ethos and is deeply involved in many aspects of the building the brand’s character. It will continue to have a very key role to play. It’s the hyphen between the brand-publisher.

Some say the lines between branded content and traditional advertising is getting blurred with publishers creating in-house ad films. What's your take?

Both will exist. The good part is that since audiences are 24X7 connected with some media or the other, it is imperative that different ways of storytelling are effectively used. And we use the short, long, embedded as well as independent ways of telling the brand’s story.