Storyboard18’s editor Delshad Irani talks to Kristen Cavallo, global chief marketing officer, MullenLoweGroup, about key trends in media, advertising, and marketing, including AI, influencer marketing, and the Indian market.
Cavallo considers AI and influencer marketing to be the current key trends in media, advertising, and marketing. She acknowledges the potential impact of AI on consumer behavior and trends but also highlights concerns regarding intellectual property and consumer data privacy.
In terms of influencer marketing, Cavallo mentions that India is currently experiencing scrutiny regarding the selection of appropriate influencers for brand messages. Government regulations are being implemented, and influencers are under scrutiny. However, she notes that influencer marketing can establish trust and credibility if done correctly. She also mentions the backlash and pushback that occurred due to the rush to engage influencers without proper vetting. Cavallo emphasizes that brands need to stand their ground to maintain their reputation and avoid losing both the cause they are supporting and the potential for new growth.
At Cannes, where AI is a hot topic, Cavallo highlights concerns about its impact on creativity. There are worries that AI might mechanize creativity and result in mediocrity. However, she reassures that previous technological advancements have not made humans irrelevant, and she believes that AI will not make creativity obsolete either.
Regarding purpose-driven marketing, which is both celebrated and criticized, Cavallo mentions that younger generations tend to support brands that take a stand.
However, there has been pushback from older generations.
Discussing the Indian market, Cavallo reveals that India is the largest market for MullenLoweGroup in terms of clients and employees. She believes that India is leading the way in influencer marketing, digital payments, and banking due to its scale. Brands that embrace innovation tend to grow faster, and MullenLoweGroup is placing its bets on technology and innovation in the Indian market.
Watch out for the full conversation on CNBC-TV18.
(Compiled by Indrani Bose)