“On Facebook, you can run an ad manager for any commercial page. This allows you to choose a location with the absolute specificity; furthermore, you can target a specific audience in accordance with age group, gender, and interest.” –
Muhammad Risalat Siddique
Co-Investor and the Man of Steel, Analyzen
Sitting for an exam for the most prestigious business program in the country is not a decision that is lightly taken. A degree from IBA can establish the most zealous business students. Muhammad Risalat Siddique, had decided to take this very exam on the compulsion of proving a point to his family. Without any preparation, he attended the exam and was called back for a viva. What started out as an effort to demonstrate intellect has become a flourishing career for him. ICE Business Times talks to the best in brand building on how to establish your mark in this continually growing market.
Risalat starts the interview with a demonstration how technology has changed the mannerism of marketing for a particular brand. “On Facebook, when you run an ads manager for any commercial page, this allows you to choose a location with the utmost specificity; furthermore, you can target a specific audience in accordance to age group, gender and interest.” Through the advent of Facebook, a company can reach their target audience with a much greater frequency with multiple advertisements. Risalat explains, “We use this research to create what is known as a reach-engagement model for each individual client based on the specific details of the company. This allows them to understand the investment on the content they are creating. They can identify how many are likely to engage and the impact.”
This exemplifies how digital marketing has completely changed the methodology that is used to research a demographic for any service or product. “We have a client that has stores throughout the city and they require customized data on the level of local areas or zone. Digital media has allowed brand managers to identify the need in specific shop, what customers are willing to buy and create an advertisement of message that is specifically effective in each of the stores’ locations.” Upon launching an advertisement, companies receive immediate feedback from the audience they are targeting. Risalat expands, “The target demographic is currently allowed to react, comment, like and share a particular work of media that they have seen. Based on these reactions, a company can change or modify their branding accordingly. With traditional media, this research would take a much longer time.”
However, he would like to clarify that the transition from ATL BTL to Digital marketing is a notion that many are rather unclear of. Risalat clarifies this notion, “Digital marketing does not only encompass Google and Facebook. Mobile phones have been a component of this scenario for over 20 years. Mobiles are not only limited to voice calls; dialing a code for product information of interactive voice response is still commonly implemented in rural areas where internet and social media is not found.” The latest digital platforms have created a more cost effective method of advertising and collecting market data. Digital marketing entails any reliable source of communication that allows for a monitoring mechanism.
“Globalization has been around for a long time, social media and the internet are the catalysts that have allowed this idea to flourish. This causes nations such as ours to create quality branding because the consumer can compare it with those of any other nation with a few clicks of a mouse,” postulates Risalat. In terms of the local scene, Risalat explains that our local market is growing on an exponential basis. The potential of our nation is being recognized not only for outsourcing of job but also for research purpose and studies. His research company, Kaizen CRS, recently conducted a study on cash payment services that are currently operating in Bangladesh. “Previously Google did not have geographical segmentation of Bangladesh but that has changed due to the sheer size of potential market expansion. During the start of this year, there were roughly 15 million Facebook users in Bangladesh; this has since increased to 21 million within the last 6 months.”
Even with his digital marketing agency Analyzen, Risalat was really proud to say that despite being based in Bangladesh, they are the first company to expand their agency to Singapore. In this context, Risalat believes that creative content can be made anywhere with an understanding of the client given that the dynamic is such that local agencies obtain many projects from Global agencies. “When I worked in Unilever, I would have to do video conference with countries throughout the world. This would involve interacting with the team at the site, watching their activities, and studying their dynamic. Creativity does not have borders; it is simply about having the drive to produce branding that will be innovative and relatable for that particular consumer.”
With advent of so many new companies on a daily basis, Risalat contributes consistency to longevity and success of a company. “If you look at Coca Cola, they have been continually successful for 200 years with the same core message. The idea of their product is happiness and enjoyment, a formula that they have transitioned with the respective situation, environment and time-frame.” However, he does believe that the digital era poses a challenge for emerging companies. Risalat states that the digital era has paved the way for two-way communication between consumer and the brand. “Emerging brands are being co-created with the ideas of the consumer in mind because of this evolution. Finding the balance between the demands of the consumer and the company’s idea; the brand manager has to find the harmony between what is being demanded and what can be offered with the purpose of creating a unique brand that is true to the original vision.”
Risalat was asked what his idea of a “brand manager” was during his first professional interview. “I told them that I believe that a brand is like a human being and the brand manager is the parent. They build the basics of the company while the finance, sales and other departments function as the peer group and are the catalyst that shape it.” The creation of brand is not limited to just a product, Risalat explains that branding can come from the most unexpected areas if done effectively. “If you look at Harry Potter, what started as a series of books has now become a household name. They have expanded to merchandise, a movie franchise and much more. Locally, Ananta Jalil has also become a brand. His unique style of acting and personality has allowed his presence to have value.”
Starbucks has started off with beverages and expand to an experience of a grab and go meal, an idea that wasn’t as successfully implemented in Bangladesh because the culture is different. “Many cafes have had to expand their menu in our country because we live in a culture that implements a sit-down meal. Many start-ups should take note of this phenomenon,” insists Risalat. He ardently believes that that new companies should work on building their core and focus on a target audience. When these companies attempt to scale up they have a tendency to collapse. “Emerging companies should focus on effectively identifying and targeting their key audience prior to expansion. Spending money and extensively social media presence will not ensure awareness. Alternatively, it will dilute the focus you have attained.”
As a brand strategy professional, Risalat is the embodiments of characteristic that are necessary in establish a company. Taking a chance on an entrance exam has transformed into a career of dedication, zeal, and passion for helping companies create a name that is uniquely their own.
