Well-constructed company narratives are like icebergs. Much of what matters is hidden
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Good morning [%first_name |Dear Reader%],
All too often, the words ‘narrative’ and ‘story’ are used interchangeably. But, if you ask me, narratives are far deeper, wider, and subtler than stories. In fact, narratives encompass several stories.
If we go by American writer Ernest Hemingway’s iceberg theory, the narrative of a company or a brand, especially once the company begins to construct it in a focused manner, is like the hidden part of the iceberg. Vast and complex, influencing everything you see on the surface.
In a way that might not be immediately evident.
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This week we decode one such narrative.
Earlier this week, mapping tech company MapMyIndia’s chief executive Rohan Verma tweeted this on Twitter:
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And I don’t think there’ll be any prizes for guessing what he means by “others” who are “not truly Indian”. When it comes to maps, Google Maps is the elephant in the room.
Anyway, I can only describe the replies to Verma’s tweet as mixed.
This is not the first time that MapMyIndia has pushed this narrative. And it is not the first time it is being told that it needs to do a lot more if it wants users to shift over to it from Google Maps. Why, then, do we continue to hear the same spiel from MapMyIndia?
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MapMyIndia needs Google Maps like a hero needs a villain
Okay, you want the short answer?
The ‘Made in India’ narrative is simple and has significant appeal at the moment. Not to mention, it is fully in line with the ‘Aatmanirbhar Bharat’ (Self-reliant India) narrative pushed by the Indian government.
But it is hardly the only option for MapMyIndia to build a narrative around. For instance, it is a 27-year-old mapping tech company that is profitable—something that many of its technology sector peers have struggled with. It also made a strong debut on the stock markets in December last year, listing at a premium of over 50% (Rs 1,581 per share, or ~US$21) on the BSE. And it has largely managed to maintain this premium thus far.
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And finally, it has a strong client list that includes large companies from both India and abroad, such as Apple, Uber, Amazon, BMW, Honda, Toyota, Mercedes, Ola, Yulu, Flipkart, Ola, Amazon, and HDFC Bank. Indian government institutions such as the Central Board of Direct Taxes (CBDT), the electronics ministry’s digital governance app Umang, the Indian Space Research Organisation (ISRO), and several state governments are also clients.