 Yes, we are moving forward to our first panel discussion of the day, which will talk about the new age of personalized marketing, data, analytics and customer insights. So ladies and gentlemen, please join me and give a big round of applause, even the virtual one for our session chair, Mr. Shekhar Banerjee, Chief Client Officer and Office Head Best for WaveMaker. And as I welcome our panelists, join me in welcoming them, Mr. Ravi Sankhanam, CMO, HDFC. Our second panelist is Ms. Anurita Chopra, Area Marketing Lead, Oral Health, GSK Consumer Healthcare. We also have Ms. Anuja Mishra, Vice President and Head of Marketing, Godrej Consumer. On our panel, we have Mr. Vivek Shrivastava, Head Marketing, Passenger Vehicle, Business Unit, Data Motors. I'd also like to welcome Mr. Alaksharit Tripathi, Industry Head Consumer Packaged Goods in Mobi. Last but not the least, welcoming Mr. Karan Ravindra Chaitapkar, Head of Digital ABP Network. A very warm welcome to all our panelists and I'd hand over the screen to Mr. Banerjee to take this panel discussion forward. And fantastic. Thank you so much. Thanks for this generous introduction. So quickly, I hope I'm audible and everything is great. So I'm just rolling with this discussion. Good evening to everyone. And thanks for logging in today to hear us. I am Shekhar Banerjee, Chief Client Officer and Officer for Vivek Makar India. And I have a panel of Mavericks for this topic. To set the context, we have seen a lot of action in digital marketing in the last 24 months. Working across sectors and with clients like Mondly's, L'Oreal, ITC, Netflix, Vodafone Idea, First Cry or Dream11, to name a few, I actually have been quite lucky at a very good position to observe some major shifts how marketers are now organized to communicate with this hyper-connected consumer. We knew winter is coming, but the last 12, 16 months has disproportionately accelerated this journey. And as targetable, digital audience basically is going up. Most marketing organizations have accelerated the digital transformation. With respect to measurement, tech stack, and consumer value estimation. While the use cases of personalized marketing ranges from new product development to online fulfillment, one of the most valued use cases, most organizations are chasing today is with position targeting and personalized communication. And I want to use this next 30, 40 minutes to get our panel's view on the same. With that, let me just move into this quick context setting. Let me just move into the first question that I have. And I will need a variety of opinion on this one from different sector. So I will ask for sector view on this one in terms of what is your definition of personalized marketing to start with? And what are the kind of use cases you are seeing in your organization with such major investment organizations today are doing in terms of structuring the data spying audiences and how they collect data? Maybe let me first ask from Ravi and his perspective on this sector, how you see Ravi this. Welcome all, I hope everybody is safe and sound and everybody is out of the pandemic very quickly. See the banking and financial services industry has a slightly different perspective on personalization. In my view, it's like if you do not personalize, you don't have any reason to exist because the amount of first party data that you have is phenomenally very high. It's very different from what, for example, Anuritha will have it in the oral care. You don't know much of your customers. What do they do on a daily basis? In the banking sector, you have their income, you have their expenditure, where they spend, what they do. And it's also available on a longitudinal timescale. So the ability of you to put all these things together to get a better profile of understanding of who your consumer is, it's like the bare minimum that you need to do. If you don't do that, then I don't think you have a reason to exist anyway. Yeah, that's fantastic, Ravi to hear from you. In fact, you won't believe, I wanted to move straight to Anuritha and ask her view, because it's actually a new name to her also. Anuritha means a completely different sector, completely different way you engage with consumers today. How do you see this? Well, I guess I'll possibly take a lead from what Ravi said that he's right. We, of course, because we come from health care, we are very, very careful about what we call PI, which is personal information. So for us, the medical data of consumers is definitely from a constant based application. And having said that, what we also do is cohort based marketing. What that means is that a lot of science and a lot of data goes into cluster mapping because you can look at digestives, you could look at toothpaste, you could look at even analgesics like prosin, you could look at autraven, which is respiratory. Now, you have cohorts, you have people who behave very like minded, who will have, you know, adjacent categories that they buy. Where is this data really coming in from all sorts of platforms, be it e-commerce, be it actually, you know, our interaction with these consumers at different points of contact and different points of sale, of course, during times of COVID, that's a bit, you know, fractured. But the other cohort, which is very, very critical for us, is what we call the expert base, which is all our health care practitioners. So we have consumers and we have our advocates. And you do market to them too in the sense that they need to believe in your brand to prescribe that brand. They need to believe in the science behind that brand. So you need to understand what is it that they are looking for in terms of science. So and that's where cohort based targeting really, really works. It may not be as personal as Ravi put it in the space of banking and financial institutions for sure. But it's certainly personalized in terms of understanding what that particular cohort based on where that person is, be it rural, be it lower tier India, be it lifestyle orientation, health platform orientation, et cetera. Let me add a bit of a dimension because one is targeting also. But I want to ask this to Vivek on the data spine, how he sees this vision in your sector. There's a pre and a post and the post, the data usage might be very different. And so just talk to us through how you're seeing this value exchange. Yeah, thanks Sheta. So see the automotive segment has actually been built over the last many decades around standardization. So really personalization is a completely opposite current to follow. But I guess as an industry, we are embracing it to begin with. Obviously, the marketing side is where we take baby steps. We heard about Anurita talking about cohorts and stuff. So that's exactly what we do. We use tech from what our digital media agencies provide in terms of trying to at least address cohorts differently so that we don't go completely wrong in terms of our messaging. But happy to say that we are also taking the one step ahead. You know, trying to get the intelligence into the digital media. So once a customer comes to our website and then it goes to a showroom, we're able to kind of continue the journey so that the customer doesn't have to start from zero. We are trying to integrate personalization into our products aspect where customers are able to choose certain elements that he likes and we make a car specifically for him or her. And there's no limit to that. You know, once we get into the personalization space, it can go up to the level of choosing individual features. But it's not too much of a dream. Probably in the next one or two years, we should be going in that direction. But as you said, importantly, you know, it's on the ownership side on how we are better able to track customer needs, usage patterns and tailor our post-sale services to suit each customer's needs and timing, particular necessities, which is actually going to be a hygiene in the future. Very much like what Ravi said, you know, if you don't embrace that personalization for our active users, we'll never be able to survive. Fantastic. Thanks, Vivek, for adding this perspective. Now when we talk about, see, this is basically personalization, personalized marketing ranges from communication to overall. So that we've got a great perspective in the first question about overall perspective. Bringing it down to communicating with our customers. Precision targeting versus broad targeting. And we know there's a cost to doing precision targeting and personalization. So my question is, do we need to be so obsessed with personalization? And more so because does it make ROI sense, especially because you end up spending a lot more extra cost in tech, in targeting, pure media deployment, you end up actually spending a lot more air cost. Does it make sense? Anuja, maybe your perspective on this, how do you see that? You know, I think Shaker, like any spend, you know, whether that's mass television spend or that's targeting or precision targeting, I think it's fundamentally a function of ROIs, like you said in ROAS, and both short-term and long-term. You know, when you look at an industry like one that I operate in, which is FMCG, you know, pretty much the country is your target audience, right? In a very conventional sense, we would look at anyone who's 18 to 35, SCC ABCD, right? And that's pretty much nobody left out of the segment. But I think within FMCG as well, you know, as we're kind of looking to move up tiers, looking to move up, you know, there's almost a pyramid of offerings and opportunities. I would think that we are kind of tending towards precision marketing, and of course, that will obviously vary by categories, right? So like, you know, Ravi rightly spoke of, when it comes to banking, you know, banking is personalization and nothing else, right? But when it comes to FMCG, there is a certain aspect of the product, and then there is a certain aspect of, you know, awareness, consideration, and then getting down to engagement. So I think precision targeting in itself will have a very different definition and a very different metric for every industry. I think FMCG is still fairly far away, you know, but the more you sort of move towards higher value, you know, products and categories and conversions, it has, I think, really where your ROI start to get justified. Yeah, in fact, let me throw this question to Alakshit also, given the range that he ends up seeing at InMobi, how do you, what do you feel about that, ROI? So yeah, like all of you already have mentioned, right? So it depends on industry to industry, but if I look at it as a tech player, right? It's about the economies of scale and scope, right? So with more precision, you start lacking the scale. As you start lacking the scale, your economies of scale are not gonna work. But if you can replicate the same thing, right? With two other things, how quickly, how easily can you replicate? That will give you this economies of scope. So that opens up some window for the ROI. And let me give you another perspective on this drawing from what was earlier mentioned, right? That the entire population is your TG, right? Now, how do you slice and dice that TG? For example, there can be one way of personalization where you are talking about cricket-led messaging to a cricket enthusiast, music-led messaging to a music enthusiast. Now, that will require a whole lot of different content-building than if I cut the audiences in a different way, where I say that what are the different barriers or adoption for this particular product among the cohort that I have in mind, right? Now, I need to just highlight my one product value to that particular audience base. And that's how I customize it. That kind of personalization gives you a better ROI. And this is something that we are doing with one of the largest technicality players in Southeast Asia, right? So they are doing this study, creating those seed audiences and building up on those cohorts accordingly. Okay, Alex, you're just continuing on the same topic that the way you're explaining and the range you're talking about. What is the range of value unlock you have seen in personalized marketing, from top funnel to bottom funnel, depending on how you're actually deployed it? What is the range you have seen roughly? So it will be quite different for different industries, right? So top of the funnel, if you think about it, the top of the funnel is going to be awareness lifting, right? You might not have such a major change with personalization in the awareness of the top of the mind we call of the brand. It is at the bottom of the funnel. And like Ravi was saying about the BFSI as an industry, where that is the key metric that will matter. That's the thing that is going to probably derive. So personalization makes a lot of sense when you are looking at the bottom of the funnel, right? Then you will look at better ROIs and do you have a right tools to measure that ROI, right? In BFSI, it's a lot more easier to measure that ROI because the entire journey can be on digital. But for an FMCG player, that might not be the case, right? So some part of the journey is there on digital and other is in the offline store. How do you marry that information? So you don't even get to see the entire picture of it, right? Karan, what's your view on this? You've heard the different opinions. So yeah, I've heard from Ravi, Tony and everyone, and we are the least in that bottom pile of having data because we don't get any personal information, mostly publishers are at that. So we have mostly behavioral data, so we can play around with that. So for the longest period of time, people don't consider SU as personal marketing, personalized marketing. It is personalized marketing at the end of the day because you're going after the intent of the user on Google. It's keywords, right? You're going to make sure that these bunch of keywords cohorts you target, and that's a direct transfer to your website and direct conversion. Considering the whole funnel, if you see, I'll go, since I have an agency background, I'll just go with an example for awareness and consideration and final purchase. So I'll just, some awareness background, I agree with most of the guys, but we should actually at least at the awareness stage have data, take the data in, right? Because this is digital marketing, right? We need to target, we need to retire. So we need to make sure that every point and the customer journey in the awareness campaign itself, right, which is a broader campaign, we make sure that we get the clicks right, we get a journey right, so that we get all the data we need to retarget. So that's important from awareness, right? So that's the value lad for future campaigns when you do precision campaigning, right? Because you have your own data, it'll be cheaper, right? Considering you have done those buckets up there, then for example, there is a simple remittance site which we have done, it's a personalized marketing entry and we did, they had this simple campaign of running across all countries remittances, right? And then the charges were different. So what we did was just make sure the cohorts are done as per country and the simple thing. And just on the console, on the Facebook console, we ran personalized ads, right? On those cohorts and then the personal landing page on the those cohorts and then the buying also happens on that same personalized scheme. The whole journey, have the consistency till consideration. If you don't have consistency to consideration, you will not get a lead, right? Again, on the lead page, every single field needs to be tracked. What you're writing irrespective of whether submit is best or not, right? The landing page is crucial here, right? You have to personalize. Again, after the landing page, especially in direct sales like BFSI is rightly pointed out, we should automate most of the things because most of, as I rightly pointed out, banking has a lot of data, right? They just can automate. Most of us are customers. So once you have some data, you just have to automate the thing and give personal loans out of credit card directly sanctioned later than your account could come. So why do we wait? And then the remaining can go. So after consideration to final purchase can be totally automated, right? But for certain set of cohorts or certain set of users. So that is possible in banking. Again, a set of, on the consideration topic in the final, you know, a lot of people who write in forms don't, we don't use the data at all forever. It's lying there, a lot of data, a small, a broken form example, I've just got you. They had some 0.3 million of this kind of data. We just ran a simple AI analysis on personas, gendered a persona and did a personalized email marketing, simple email marketing. And we got that conversion on that data to 6%, right? Giving offers to those guys. And that currently now we are using as an automated funnel from consideration, if someone backs out, it's kind of not to 20%. So I'm just saying that if we track data across these three, especially these three, awareness, consideration that is once he reaches our data and the final purchase, we actually can convert a lot. And there is where we lack. So awareness has to have data in consideration. We should track each and every point and automate most of the things till final purchase. While I'm hearing you, Karan, what would be amazing for the audiences here, if you're able to say that if we personalize, this is the kind of uplift typically you have seen in your category, that would be like a... So I'll just show you the same example of the broken, the guy was around 0.1%, 0.3%, the remittance guy. We moved for personalized marketing, we moved it to 3%, right? For consideration dropout, right? That data, they never used to use it only it is dormant data, right? We just made sure we did some analysis on the age, whatever data they had over a period of time and we just offered them certain things. And that conversion went up to 6% from 0 to 6%. And now it is 20% on direct funnel, basically. Whenever someone comes and it doesn't take the offer, then we go into the email marketing bit. For banking, it's automated. So if I say ICICI, sorry, I didn't mean to say this. You can change it. You can change it. So we automated the final using Sibyl report, direct loan sanction later in, yeah. So that's around how much conversion, it's direct from intent to sanction later in 10 minutes flat after platform, that's huge. Yeah, Ravi, what do you think about it? It means on this, what is the range as for you? See the range as Alexi was telling depends on which funnel part you look at. And I have a simple theory. If I am talking to you, I have to recognize that it is shaker of damage that I'm talking to you. So why is this question of personalization not required? I can't generally say you're a human being 40 years plus age and let me talk to your human being 40 years plus age. It doesn't work like that. So we need to see how we can actually see the lift and the lift that we see depends on what is the kind of metrics that we want to see based on the objective that we have. And we have the 19th largest website in the country. We get almost eight crore visits in a month for HDFC Bank website. And that's the kind of data that we are generating not from the transactions that you do in your account but what you do in our website. And then we also have mobile banking and net banking where people come and also look at something and don't do any transaction. So if I look at all these stuff and I just put it together, it becomes 40 terabyte of data. Now what we need to do is first attract traffic and that's a very different level of personalization we do. And that's where cohorts marketing and all help because there are lots of internal data that we have. One is to attract the past customer who is already with us. So where are they available? How do we bring them onto our site? Second is look alike modeling and trying to find similar people. And that's where all the cohorts marketing help. And when they come in, 95% of the experience on our website is personalized. Meaning our website is different for all the eight crore people, very different. Purely, and that requires a huge amount of technology investment and automation. And we have actually shown that that personalization plus the traffic generation has to get it into a lead and then the journey has to be automated. And we have a target to get 25% of our business directly from digital. With no human touch. And for that, we need to get into various levels of personalization. We don't believe personalization is about communication personalization. It's about finding the right set of cohorts for the right set of offer. How can you personalize an offer? How can you personalize the communication? How can you personalize the channel? When do you want to communicate? That's also personalization. But understanding the context of the customer and then trying to work it out is all about personalization and personalization actually runs through the entire funnel for this. Absolutely. Very well put Ravi on this one because the use cases are, like you said, in your use cases are very varied in how people see content, how they engage with you. All for that matter, how do we market to them? So in continuation to this point only and because you give the range, I have a question which is like degree of personalization is varied also. Within that also there's a degree of personalization you do. There's a CRM based one-to-one or there are the standard of the shelf cohorts that you pick up from Google's and Facebook. And in between then there is a classic way so you have audience platform that marketers build at the end kind of a DMP with which you actually go to the consumers and talk whether it is a product offering or for that matter again when it comes to basically how you communicate to them. So standing today, what do you think Ravi? First maybe you only as a continuation, where should we focus on? Because they all again are complex journey in Excel. See, if you have a lot of first party data, the best thing that you can invest is to start with your intelligence inside the company. So you need to have a very good CDP to put all the data together to understand profiles of customer and you keep building those profiles based on the inputs that you get. So first and foremost is to get the CDP. Second is to get a phenomenal artificial intelligence and I have a team of almost 45 data scientists working with us. So the entire analytics team is actually looking at this data trying to make sense of this humongous amount of data to add to the profile of the customers. So once you do these two things then you have the actual base material for you to build everything else. So first is to concentrate on a CDP then to concentrate on analytics to understand the data to create better profiles of customers. And then third part is to attract the customers on your website, the content and all. And the one final thing which I always say is finally the end of the day customer is a human being. So please remember 50% of your work is to talk to the human being and don't look at data loop. So how do you marry the data, the technology and the human patch to bring together and how many times you have called a customer because what I see happening now is people are so enamored by the data and the tools and all those stuff. They forget there is a human being behind that. So the full force is always about saying, okay, this is the data that is coming out. So many people have dropped off and people immediately go into analytics and keeps telling us like this is the drop-off we will change this way, we'll change the journey this way, we'll capture this data. The first question I ask is, have you picked up the phone and talk to these customers? Let's talk to the customers. Let's understand what's their viewpoint. So once you get the human and technology mixed together getting a CDP, getting the analytics in place and the rest is all available everywhere in the world. It's very easy to go into a journey. Amazing, amazing. There cannot be a more personalized way to do it than actually picking up the call and talking to a person. So let me just reverse it. Your starting point is CDP. Anurita, what do you think? What will be your starting point given again the category sector that you're working in? So I am tempted to say that all of it, because what can you choose really? One, are you saying that internally you do not collate data, you do not see cross patterns, you do not do internal analytics to be able to segment audiences better and be able to do sharper targeting. And I think it's been said that, look, everything is ROI-lit. So it's not about the absolute, it's about the percent, it's about the return. So if it's speaking business sense, it makes business sense. But I completely agree with Ravi that again, coming from a healthcare part of the industry, how would you like it if you go visit a doctor and he tells you that you are a case? Yeah, exactly that same feeling that how do you, so of course we do not have the wherewithal or the need in that sense to connect that personally to people. But as I said earlier, that for example, a brand like Sensodyne, it's so centric on food and food triggers. Now, how about it that you're sitting up in Delhi and it's really hot, it's filtering hot and you are served as an image and a dynamic, you are served a glass of cold water as your food trigger because that is a trigger of food sensitivity. But if you're sitting in Hyderabad, and it's pouring out there or Bangalore, and it's pouring out there exactly at the same time, you really feel like a hot cup of tea and that's another food trigger, but you don't do the opposite. So you combine weather triggers with food triggers, but how do you curate this? And therefore, of course, curated platform or search engines or partners like Google and Facebook do offer that platform to you. On the other hand, let me flip it completely on its head, which is you also need influencers. So for example, chefs who are curating dishes for us, which are also sensitivity triggers. How do you partner with them and keep the consumer engaged because it's not just information that consumers are looking for when they're looking at brands which connect with them emotionally as well. Then there are chef influences that you talk at on Insta and you drive consumer participation because brand stories are also human. Again, how do you resonate with a consumer at exactly that right point in time and therefore the cohort, the topicality, how do you ensure that there is a cross mapping of data happening exactly at the same time indigestion will happen at any point in time. There is no seasonality to it. It's just when you overeat and therefore again, the kind of food that you're talking to at people in North will be very different from the kind of food that you're talking to people in the South. So that's how region-wise, lifestyle-wise, moment-wise, you know, for example, there is flu season and that's where cross and auto-driven comes in and that's when weather again plays into the big picture. So you see, there's a lot of cross mapping, cross connection, data collation, but more importantly, it's not linear. It's a web and that's our internal teams as well as the external partners with whom we work are designed to be able to give us intelligent cohorts and intelligent spaces where we connect to the consumer so that he or she feels that you're talking to him or her. I may not be able to address you exactly by your name and I may not choose to do that, but at least you will know that I'm feeling exactly what you're feeling and I'm talking the language that you want me to talk about exactly at that point in time. So that's how it is. You know, a lot of questions that I asked also sex up for a trap and we heard everyone's opinion on this. We talked about how specific you can get into targeting and personalization. We even, I in fact have personally worked on a client and a brand which was able to personalize till the level of the person has a dog and can go out for a walk at this time and therefore what should be the product offering there. So changing gear, I have actually a question which is very, very pertinent to today's time is personalization is also construed as invasion of policy and wall gardens have suddenly taken a stance to cover it. Your POV, how much is good? Anujya, maybe what's your POV on this? How much is good? You know, again, I think it's one a function of the business need and I think too it's also a function of, I think on how you define firewalls of values and honestly ethics, right? And we as an organization, for example, have decided that we limit ourselves to contextual marketing, to cohort marketing, but we would not go to a point that potentially makes a consumer uncomfortable and really what's the realm of uncomfortable? You know, if I'm talking about a brand of soap or a disinfectant spray, do I really need to do a one-on-one email marketing? Does that actually spook the consumer out? Or do you want to say that, you know, what I think you have a vaccine slot today and so you should be carrying this spray? That's a little spooky, right? But so I think the important point, really, Shepha, over here is understanding and respecting more importantly the realm of the consumer's privacy as much as I as a consumer wouldn't want to be invaded, right? There's a marketer side to me. There's also a consumer side to me. And as much as, you know, where marketers were also targeted all the time and at times it's annoying, right? So I think it's really about saying, you know, almost drawing at least in an FMCG world a one-nine-ninety of an equivalent, right? To say that while I'm going to broadcast my larger messaging and I completely agree with Anurata that, you know, every piece of communication needs to be laden with insight and relevance and a certain emotional connect, you know, for even a brand that's finally, you know, a personal wash brand. But I may then decide to only, you know, interact more actively with, let's say, age to 10% of that larger base and finally maybe engage with a very distilled, you know, one to 2% of those people because those are people who are more welcoming, you know, who are more actively seeking and searching that opportunity. But I really feel like, you know, it's a very fine line at this point, really not. I don't think it's defined in the ecosystem, right? Of what's really invading privacy versus, you know, what's kind of almost, you know, embracing the consumer. So it's really, I think, personal guardrails and personal virtues of where you draw the line. You know, to say, this is where I think my category, you know, does not need to communicate at a personal level any more than a cohort or an interest-led piece is what I think. Vivek, what's your take on this one? Because, again, you have very specific personalized data, PI data that will be there. That's your, take on this. Yeah, very similar, in fact, and especially coming from the data group, we are bound by a lot of internal ethics. And to the extent that many times, even when the customer opts in for some certain messaging option for some kind of a facility, we apply our own filter and try not to access that area of the customer line. And in terms of prioritization, we rather not get into the gray side of things. We largely restrict ourselves to cohorts. And the only area where we really go into a little bit of personalization is, like I said earlier, in terms of the product development or specific choices that, you know, the customer makes about the product that he or she wants. But in terms of communication or a market outrage point of view, we restrict it to cohort segment. Just continuing on the same thought, because something we talked about is the marketing side of it and then the consumer side of it, the way I'm just capturing it. How do you bridge the gap between this perception of what consumers want and the reality of what consumers actually want? Vivek, how do you do that? I mean, that's really the magic of any business, I guess. But yes, especially in automotive category, the stakes are really high. Considering the kind of investments we need to make in our products and our product choices, largely depending on consumer preferences, very specific preferences. The way we do it is on two sides. On one side is really deep consumer insight. And we look at trends rather than in a particular point of time. And these trends are across very, very wide spectrum. It could be what's happening at society at large, what's happening in other similar countries. What are the usage and attitude elements that creep into customers' mindset? Even, you know, we track how a customer uses their touch screen phones or iPads. That makes a big difference in terms of how we decide what really the customer wants. One thing that's very obvious is that, you know, the obvious is never right. We've had to take a lot of leap of faiths in the last few years. But at the same time that I told you, there's another side to it. A lot of social listening does help, especially in terms of our customer mindset is changing and what are the preferred elements, right? Up to color choices, you know, the fashion industry gives us a lot of inputs on what we really want. We do a lot of mix and match of, you know, social listening on various elements, right? From the way people holiday, what are the color codes of clothes people buy for their applications and stuff like that. So it's a combination of many things. And we look at trends rather than in specific, I hope that answers your question. Yeah, it does. In fact, it brings me to the last question also to the panel. And because the discussion we are doing is quite complex and it has major impact on how organization behave or how they actually go to market also. So my last question to the panel will be, what will it take to be successful in this journey? And you think the partner ecosystem that you're working with today, whether internally or externally, are ready to navigate you through these major changes that are happening today? Maybe Ravi, you can go first on this one and give your opinion, especially because the scale at a banking sector you're seeing. I'm not a do-stace opinion seeker. I think everything is fine. World has its own way of coming out. If you are coming out of COVID, we'll come out of all these stuff also. The ecosystem is pretty good and the people who do not have first party data will have a problem. People who have extensive first party data, I don't think we need to bother about cookie crumble and all those stuff. And privacy is something which is extremely important even for the financial services industry because at the end of the day, I for one cannot access your account and that's a way we have built it. So it's important to be very clear that the ecosystem will support. And if you do not have first party data, you need to start collecting the first party data and that is how the ecosystem will support you. Okay. And Alakshar, what's your point of view again on this one and especially because you partner with a lot of them? Yeah. So it's a different picture and I think Ravi just captured that, right? The thing about the first party data, right? So that's the focus that we are seeing even from the CPG players in the market right now, right? So the ecosystem will be continuously evolving. It's not going to be static, right? So more challenges we see. So for example, we are looking at the cookie list world, like there are IOs 14 where the ad tracking will be an option for the user to choose. So as we move beyond this, the first party data becomes important. So now we get it up and we are providing with those solutions. So at every stage, this is system would evolve and it's only getting better, right? So back in the day, you had ad networks, right? Now you have an exchange, you have SSP, you have DSP. There's a lot of transparency in the system. There are different things that each player is doing. There are different levels of expertise everyone is building, right? And at each level, even the privacy, right? Is being managed with the value exchange, right? So if I am taking this data from you, then what am I giving you in return, right? So if I ask for your PII, am I sending you a sample for a trial, right? That's why I need your home address or I'm just asking for the home address just because I want to keep it for at some point of time to be used. So each part is building up is what I would be. Fantastic. That's almost brings us to the closure of the panel just to summarize you. We all heard the range specifically across sectors how the journey of personalization is going just to capture again, it's not just about how you talk to the consumers. It is also about how we are designed for our consumers from every touch point, whether it is from products that you offer, the value exchange that you establish and different touch points, how you communicate to them or for that matter, how you again engage with them in their entire customer life time. And a lot is needed to make it happen. Great mind, knowing that they are human beings, technology that is able to process, connect and make this ecosystem work for all of us. And it's gonna be an ongoing journey and as the policies change, as the ecosystems evolve, our partners evolve, there will be a lot of modular approaches that will emerge and to be a very exciting space to see in next 12 to 15 months for sure. So with that, we come to the closure of our panel discussion. And thank you so much for spending this time with us and hearing us. Thank you. Thank you so much, Mr. Banerjee for stirring this very interesting conversation and thank you to all our panelists for taking out the time and being here and sharing your insights on the platform. Once again, from Exchange for Media Group, we thank each one of you for being here. Thank you. Thank you. Thank you.