Adtech regulation a priority for Modi govt in third term: MoS Rajeev Chandrasekhar

Credibility of news and platforms are as important as monetisation challenges: Anurag Thakur

HUL: Meet the leaders who have emerged from "The CEO Factory"

Punit Goenka addresses Zee employees; ensures no layoffs due to failed merger

Disney's strategic sale to Viacom18 set to boost market share to 40 percent

The Leader's Edge: Storyboard18 in conversation with leaders, decision makers and disruptors

Nobody’s Perfect Retro Porsche Ad

In Conversation With Raja Rajamannar, Mastercard

Shahid Kapoor And Varun Ganjoo Speaks On PokerBaazi's Campaign

In conversation with IHCL’s Puneet Chhatwal & GroupM’s Kate Scott-Dawkins

Why are brands including e-sports in their sports marketing itinerary?

Storyboard18 x The English Nut: How to pronounce these 10 brand names

Experts' Take On Reinvention Of Ad Campaigns Through Technology

Experts Speak On Key Emerging Trends In Cannes Lions Entries

Leaders of the future have to be outstanding human beings: Nestle MD

In conversation with VMLY&R’s Hari Ramanathan

“My mission is to reignite the romance of the agency and media world,” says Lodestar UM’s Chief Executive Officer, Aditi Mishra. In 2024, Mishra wants to go beyond mere statistics on diversity, equity, and inclusion (DEI) to add richness and depth to the advertising industry. “Retaining our current talents and drawing in new faces to the advertising realm is not just a goal; it's an imperative. In the vibrant nexus of brands and consumer lives, media acts as the crucial bridge, making the engagement of top-tier talent crucial,” she believes. Apart from focusing on talent, Mishra also wants to amplify their partnerships across the business spectrum as a strategic imperative. “Beyond the conventional planning and buying functions, we aim to add substantial value to our clients,” she adds.

Mishra shares the agency’s 2023 report card, her views on trends that will take the spotlight next year, and more.

From a business perspective, what are the key achievements of the agency this year?

This year has been more than a success; it's been a testament to our commitment to innovation, growth, and impactful partnerships.

In the realm of business triumphs, Lodestar UM solidified its status as the transformational partner for ambitious brands, fostering agile, client-centric teams fuelled by data, technology, and collaborative synergy. We clinched the #2 spot in market billings volume and boasted a remarkable 23 percent YoY growth (source: RECMA). Beyond nurturing current connections, we welcomed dynamic additions to our client roster, spanning diverse sectors, such as Protean, Bhima, Arzoo and Hitachi.

This year marked a strategic consolidation, amplifying existing client relationships and propelling their growth to new heights. Our arsenal of tools, including the innovative Demand Forecaster, CEFF (Celebrity Endorsement Fit Framework), and the AI-powered Growth Accelerator became catalysts for crafting highly effective media strategies. The Futurecaster tool emerged as a beacon, identifying burgeoning technologies intersecting with audience behaviours. Teaming up with Dynata and GWI, we conducted a survey across 14 APAC markets, deciphering current, emergent, and potential usage of evolving media and technologies.

Stepping beyond conventional boundaries, we expanded our influence into allied strategic business consultancies, broadening our engagement spectrum. Embracing automation and harnessing the emerging prowess of new technology, we not only elevated our productivity but also fortified our product offerings across teams.

Adding a touch of societal impact to our repertoire, we proudly supported #YouDontSeeMe, a UN Women campaign in collaboration with the Unstereotype Alliance. Tackling the pervasive issue of gender stereotypes in Indian advertising, our media buying support and free media partnerships reached over 10 million individuals, championing gender-positive messages.

What key marketing trends stood out for you in 2023?

In the midst of global economic uncertainties, 2023 revealed India's economic resilience, propelled by robust domestic demand. Fuelled by a growing consumer base, increasing income levels, and the aspirations of the youth, the country experienced a surge in both brand and advertising growth. Notable moments included an incremental ad spend exceeding Rs 10,000 crore (source: MAGNA), driven by digital surges, pre-election government allocations, major sports events, a pandemic-free festive season and blockbuster Bollywood releases.

A significant shift unfolded in India's media landscape as CTV claimed the spotlight. With an anticipated 40-45 million Daily Active Users by 2025, the CTV ecosystem expanded from 25 million the previous year. Notably, Samsung TV users in India dedicated a substantial 88 percent of their TV time to streaming environments during H1 2023. This surge opened up advertising opportunities for smaller brands, leveraging the data collation and targeting capabilities of digital platforms.

Defying expectations, OOH (out of home) and radio experienced a notable revival, propelled by the influence of OTT platforms, FMCG giants, and the automotive sector. The cinema space, against all odds, emerged as a resilient advertising hub, captivating audiences and delivering impactful brand engagements. The resurgence of these traditional mediums underscored their enduring relevance in the ever-evolving media landscape.

What are the key tasks on your to-do list for 2024? 

As we move into 2024, a paramount task is the heightened adoption of artificial intelligence and machine learning, not just for enhancing client solutions but also for an internal evolution in our workflow. The evolving tech landscape presents an opportune moment to leverage the power of AI, transforming the way we engage with clients. This isn't just about streamlining our daily work; it's about fundamentally reshaping our operations, infusing agility into our DNA.

Another pivotal focus centres around talent. My mission on the talent front is to reignite the romance of the agency and media world. Retaining our current talents and drawing in new faces to the advertising realm is not just a goal; it's an imperative. In the vibrant nexus of brands and consumer lives, media acts as the crucial bridge, making the engagement of top-tier talent crucial. We need to go beyond mere statistics on the diversity, equity, and inclusion (DEI) front as well. We have one of the best gender equilibriums already, we also want to bring people from more backgrounds and abilities among our fold adding richness to our overall community.

Amplifying our partnerships across the business spectrum stands as a strategic imperative. Beyond the conventional planning and buying functions, we aim to add substantial value to our clients. Initiatives like the GenZ podcast and Demand Forecaster serve as catalysts in shaping a holistic consumer journey. The mission is clear – make the media the growth driver for our clients. We aspire to transcend traditional roles and become consultants, wielding our specialized knowledge for the benefit of our clients.

In navigating the impending cookieless future, harnessing data would be a critical lever for media growth. The plan involves mining and slicing the available data with our proprietary lens, crafting a distinctive offering that goes beyond conventional approaches. From news insights to proprietary solutions, we aim to harness data strategically, propelling us into a future where data becomes the backbone of our media strategies.

What trends do you foresee shaping the advertising industry in 2024?

Venturing into the future, 2024 ushers in the dominance of Generative AI, heralding a revolution in advertising landscapes. This year will witness marketers embracing AI for personalised campaigns, seamless AR/VR integration, and compelling CGI executions. The integration of AI, ML, and deep learning is set to transform consumer engagement, empowering businesses to decipher behaviour, preferences, and purchase patterns. This paradigm shift fosters an enhanced understanding and segmentation of target markets.

As we step into the upcoming year, the battleground for revenue intensifies in 2024, with tech platforms engaging in a fierce race for supremacy in monetising their services. Despite boasting of the world's highest user bases, platforms actively seek new avenues for revenue generation. Prioritising data protection, user understanding, and augmented advertising offerings, these platforms delve into innovative user monetisation. Subscriptions and digital commerce emerge as focal points, illustrating a strategic evolution in revenue models.

In the unfolding narrative of 2024, sustainability is positioned to take a prominent role. Consumer environmental consciousness propels a preference for brands committed to sustainability, carbon emission reduction, and ethical trade practices. Marketers are tasked with seamlessly weaving eco-friendly messaging into campaigns, showcasing a commitment to environmental responsibility. In alignment with a more inclusive economy and sustainable environment, businesses position sustainability as a core aspect of their overarching business strategy, highlighting a holistic approach to storytelling.

Lodestar UM's CEO wants to bring the romance back into a resurgent ad world

Marketers are increasingly realising the need for comprehensive insights to drive return on investment (RoI). “This holistic approach ensures that the advertising industry moves beyond fragmented metrics, providing a unified perspective to guide strategic decisions in an ever-expanding and complex marketing landscape,” said Vaishali Verma, Chief Executive Officer (CEO), Initiative India, in a conversation with Storyboard18. 

Along with having holistic measurements in place, Verma says, disruptive ideas in content creation will continue to dominate both linear TV and OTT platforms, pushing the boundaries of traditional storytelling. Sustainability will also take centre stage for many brands next year.

Verma also shares the agency’s 2023 report card and her to-do list for 2024. Edited excerpts of the interview: 


From a business perspective, what are the key achievements of the agency this year?


Initiative India experienced significant growth in 2023, driven by both new business ventures and the organic expansion of our existing client base. Notable additions to our client portfolio include ITC Foods, Centaury Mattress, Jos Alukkas, and the strategic entry into the B2B sector with Schneider Electric. For Schneider Electric, we successfully established a global hub in India, handling operations across more than 70 countries.

Our ability to leverage emerging marketing trends in technology, data, and content has provided a competitive advantage to our clients. We have a longstanding partnership with Amazon, which is one of our marquee clients.

Beyond the business metrics, our success is reflected in the high employee retention rate and Net Promoter Score (NPS), affirming that Initiative is not just a workplace but a thriving ecosystem where talent flourishes and innovation takes centre stage. This is complemented by our notable achievement of retaining 95 percent of our client relationships, showcasing our commitment to long-term partnerships.

Additionally, the introduction of Fame & Flow, Initiative's new brand positioning, signifies a natural evolution from our previous philosophy of Cultural Velocity. This innovative approach helps marketers tap into the profound power of media to unite people in culture, fostering brand fame while guiding individuals along their journeys and accelerating customer flow. This model expands the brand and performance debate beyond paid media, enabling clients to navigate the ever-expanding marketing world seamlessly.


What key marketing trends stood out for you in 2023?


The landscape of 2023 was marked by disruptive ideas in content across video, a surge in personalisation, metaverse-first launches, the prominence of live streaming, and a notable commitment to sustainable initiatives by marketers. We witnessed the transformation of digital channels into critical and preferred mediums for customer engagement and conversion. Data-driven insights played a pivotal role, providing nuanced consumer understanding and facilitating deeper engagement. The convergence of technology-led innovation enabled brands to interact with consumers in real time, driving lower-funnel initiatives.


What are the key tasks on your to-do list for 2024?


In 2024, our primary focus will be on comprehensive business growth across all streams. We aim to consolidate existing businesses by ensuring a differentiated product that aligns seamlessly with our Fame & Flow philosophy. As the industry evolves, we position ourselves at the forefront of audience and data strategy, recognising the increasing need for sharper choices with measurable business outcomes. The year ahead promises to be a dynamic one, and we are geared towards scaling new heights while maintaining our commitment to excellence.

What trends do you foresee shaping the advertising industry in 2024?


In 2024, the advertising landscape is poised for transformative shifts, embracing a spectrum of trends that promise to redefine the industry. Disruptive ideas in content creation will continue to dominate both linear TV and OTT platforms, pushing the boundaries of traditional storytelling. This evolution extends to personalised experiences, metaverse-first launches, and the widespread adoption of live streaming, painting a vibrant canvas of diverse engagement opportunities.


A pivotal theme guiding the industry's trajectory is its resounding commitment to sustainability. Brands with a higher purpose will not only navigate the evolving consumer landscape but also foster deeper brand loyalties. As we navigate this sustainable journey, the rise of premiumisation emerges as a balancing act, compelling brands to strike a delicate equilibrium between perceived value and profitability.


Amidst these dynamics, the integration of generative AI into creative processes heralds a new era of efficiency. From product development to talent acquisition, the effectiveness of content creation is set to soar. Marketers, recognising the potential of AI, will seek comprehensive measurement tools to scale these creative endeavours further.


Furthermore, a paradigm shift towards holistic measurement emerges as a key imperative in 2024. Marketers are increasingly realising the need for comprehensive insights to drive return on investment (RoI). This holistic approach ensures that the advertising industry moves beyond fragmented metrics, providing a unified perspective to guide strategic decisions in an ever-expanding and complex marketing landscape. As we step into 2024, these trends collectively shape a future where creativity, sustainability, premiumisation, and holistic measurement converge to redefine the very essence of advertising.

A paradigm shift towards holistic measurement will be imperative in 2024: Initiative India’s Vaishali Verma

“From Mad Men to Math Men, in 2024 the advertising industry will have…a Method to the Madness,” opines Vikram Sakhuja, partner and group CEO, Madison Media and OOH, one of India’s leading independent agencies. According to Sakhuja, in 2023 while AI truly entered the consumer mindspace, the metaverse as a trend petered out. “The dynamics between TV and online video were keenly watched, and it is quite clear that both have a key role to play,” he adds. 

In 2024, he thinks marketers’ expectations will be skewed towards understanding the media mix and getting to the root of understanding the effectiveness of their efforts. From understanding consumer attention to being prepared for a cookie-less world, if at all it rolls out next year, 2024 will keep marketers and their agency partners busy. 

Here’s what more he has to say about 2023’s report card and the year ahead.

From a business point of view, what are the key achievements of the agency this year? 

I’m happy with the business growth momentum we have had this year primarily on the back of our existing clients firing and our OOH business moving from strength to strength by not only winning Maruti, Aditya Birla Capital and BCCI IPL Fan Parks, among others. 

This year we have also seen a lot of interest and growth in creative with our unit Loop growing aggressively. The digital juggernaut continues and our efforts at driving an integrated planning offering has made satisfactory progress. And not the least, we were excited to onboard the world’s pre-eminent digital guru—Rob Norman—into the Madison family as a consultant.

What according to you are the key marketing trends that stood out in 2023? 

While it has been around for a while, AI truly entered the mindspace in 2023 with the advent of ChatGPT and other generative AI engines. This will continue. Equally, metaverse as a trend petered out. The dynamics between TV and online video were keenly watched, and it is quite clear that both have a key role to play. The freeze in the startup economy led to the slowing down of a major growth sector of AdEx and this trend too looks like continuing.

What are the key tasks that you have listed on your to-do list for 2024?

Learning and development of the Madison team to master the integrated marketing ecosystem is a big item on the agenda. We definitely need to upskill to add value to our clients. 

Automation and adoption of new tools to reduce turnaround time, improve insight generation and overall improve our performance in allocation, optimisation and attribution. Being able to harness the power of first-party data. Wearing my industry hat, I would love to be able to bring back the IRS (Indian Readership Survey), help ABC (Audit Bureau of Circulation) get more currency status and bring in cross-media measurement.

What advertising trends will take the spotlight in 2024? 

We will see a more transparent programmatic ecosystem next year. There are a lot of bad practices that have crept into the existing open web programmatic ecosystem. There is a need and desire to address this. The ISA (Indian Society of Advertisers) media charter is a step in the right direction. Another self-correcting mechanism is the long-overdue cookie deprecation (third-party tracking codes). If it happens, it could be a watershed year. 

I see marketers asking for attention over impressions and plain-vanilla views. There has always been a feeling that some impressions have more impact than others. I see that being quantified. And as a result, we will look for equivalence between, say, a TV spot, a print insert, a cinema spot, a music streaming spot, or an online view of an ad on YouTube/OTT or a social media feed. More applications of Gen AI in the marketing world. With a strengthening economy, I expect advertisers to again put faith in long-term brand building over short-term promotional performance marketing.

2024 for the advertising industry will be… 

From Mad Men to Math Men, in 2024 the advertising industry will have…a Method to the Madness.

Read more: <a href="https://www.storyboard18.com/quantum-brief/why-advertising-veteran-rob-norman-is-cautious-about-ai-16313.htm">Why advertising veteran Rob Norman is cautious about AI</a>

Ad industry to see more transparent programmatic ecosystem in 2024: Madison’s Vikram Sakhuja

India has strengthened its position among the world's top advertising revenue markets. As per the 2023 Global End-of-Year Forecast by GroupM, India climbed to number eight from nine last year, in terms of the largest market for ad revenue in the world.

Ashwin Padmanabhan, president- investments, trading and partnerships at GroupM, India talks to Storyboard18 on what led to this growth, newer advertising opportunities on digital, top trends for 2023, expectations from 2024 and more.

Edited excerpts-

India has strengthened its position among the world's top advertising revenue markets. As per the 2023 Global End-of-Year Forecast by GroupM, India climbed to number eight from nine last year, in terms of the largest market for ad revenue in the world. What according to you contributed to this growth?

India’s ascent in global ad revenue rankings is notable for several reasons. As a market, India outpaced countries like Australia and Canada, positioning itself ahead in the race. The growth was predominantly fuelled by the digital sector, complemented by a steady contribution from TV. Although television also demonstrated growth, the digital realm surged at a faster pace, receiving support from both mediums. 

Despite the challenges the overall ad market in India exhibited commendable growth at about 11% in 2023. In markets like Australia and Canada with 70% of ad spends being digital, the lower growth rate of digital has impacted these markets. 
Therefore, India's rise in the rankings is not solely attributed to its growth but is also a consequence of slower growth in other markets, leading to their decline.


The GroupM This Year Next Year 2023 forecast suggested a significant increase in digital's share of AdEx. How has this shift impacted the strategies and priorities of advertisers in India, particularly concerning their allocation of advertising budgets between digital and traditional TV?


The allocation of advertising budgets in India exhibits significant variability based on the advertiser's category. For FMCG brands, a substantial portion, around 60 percent and more, is still directed towards TV advertising. TV's mass reach, especially among the women audience, remains unparalleled. Digital, however, faces challenges in reaching women effectively, posing a constraint unique to the Indian market. The constraint is not mirrored in other parts of the world. General entertainment on TV, particularly, continues to excel in delivering targeted messages to women. 

Even in FMCG, we've observed positive responses on target segments, predominantly women, further emphasising TV's effectiveness. The allocation mix is highly contextual, depending on the specific category and business model. For B2C brands with a strong online presence, the digital allocation is more pronounced, especially in performance-oriented advertising. The growth of digital is driven by brands exploring new channels, particularly in untapped markets where television penetration is limited, such as regional areas and the heartland. As an agency, our role involves advising clients on optimising this mix to achieve the most impactful reach at the lowest cost, tailored to their unique audiences and business goals.


Talking of digital ad space, we have clearly moved on from just Google and Meta. While they continue to dominate the digital space, there are a lot of new entrants. Help us understand a little about these opportunities? 


In the current digital landscape, three major ecosystems dominate: Google, Meta, and Amazon. Each presents a scale in providing solutions and attracting advertisers. In India, the challenge for platforms isn't solely about having audiences but revolves around the uniqueness of their audiences or the insights derived from them. Platforms like payment apps such as Paytm or PhonePe offer distinctive signals about audiences, enabling engagement in ways not possible on other platforms. This shifts the focus from when to reach an audience to the context and unique insights surrounding that interaction. For example, Spotify capitalises on the context of when people listen to music, often through headphones and engaged in various activities. This approach identifies specific times in a person's day when they are receptive and devoid of distractions, enhancing brand engagement. The evolving advertising landscape demands a nuanced understanding of various digital realms like audio, video, and commerce, urging a departure from a broad categorisation of digital. A deeper exploration of each segment is essential for strategic investment and advising clients on effective allocations.


What are the type of brands that would be interested in these advertising marketplaces? 

In our quest for product engagement, our objectives span creating memorable moments, reinforcing messaging from various channels, assisting consumers in decision-making, and facilitating actual purchases, especially for online brands. Collaborating with platforms involves understanding their strengths and aligning them with specific brand objectives. Whether it's brand building, generating leads and conversions, fostering deeper engagement, or enhancing consideration and preference, the platform's strength determines its purpose. For instance, Uber's advertising platform offers unique opportunities during the ride-booking process and the journey itself. Beyond perceiving it as mere advertising real estate, the key lies in leveraging platform insights to target effectively, employing dynamic creatives, and ensuring relevance to the user's context during the ride. This holistic approach transforms each platform into a dynamic space informed by audience insights and platform capabilities, tailored to meet specific brand use cases. This nuanced planning approach is integral to our collaboration with brands.


With the IPL and World Cup behind us, what are the next big IP marketers interested in?

In the upcoming year, our advertising focus again revolves around significant events like the Indian Premier League (IPL), which is anticipated to commence earlier than usual. Both Viacom and Disney, the broadcasters, are proactively engaging potential advertisers. Beyond IPL, the quarter also offers opportunities tied to festivals such as Sankranti and Pongal, allowing advertisers to connect with specific audiences in different states. 


Following IPL, the T20 World Cup in June, though traditionally a low period for advertising, holds promise, especially for online and direct-to-consumer brands. The gaming and online brands categories are expected to invest significantly in the T20 World Cup. Looking ahead to the second half of 2024, a return to regular festive cycles is anticipated, building on the baseline set in 2023. With the stability in consumption patterns, 2023 provides a solid foundation, and we aim for positive growth in advertising expenses from 2023 to 2024, foreseeing a more stable and growth-oriented advertising landscape.


Will the Lok Sabha elections also impact AdEx in 2024?


In 2024, the dynamics of the election season are poised to significantly impact advertising. Political advertising will undoubtedly be a driving force for the news category, attracting substantial investments from brands seeking to target news audiences. Beyond the advertising realm, the elections are expected to energise the people on the ground. The optimism is that the increased spending on advertising and communication during this period will also stimulate consumption.


What are the top trends in the ad space in 2023? What is the next big thing to look out for in 2024?

In 2023, the resurgence of FMCG marked a significant trend, with many clients and brands making a robust return to advertising, even surpassing previous investment levels. This served as a cushion for categories that were notably absent, particularly in the online space. Towards the end of 2023, there was a noticeable comeback from online and internet brands, albeit not at the same spending scale as in 2021 and 2022. These brands, having streamlined their operations, improved cash flows, and established stable business models, are gradually re-entering the advertising landscape. As we step into 2024, it's encouraging to anticipate the reactivation of internet brands, contributing to the active advertiser list, albeit with a different advertising approach than before.

Looking ahead to 2024, specific trends are expected to gain prominence. There will likely be a continued and heightened focus on performance marketing, commerce, and retail media. 

Additionally, leveraging influencers and establishing long-term partnerships with them will be a key area of investment, with efforts directed towards creating structured frameworks for influencer collaborations. While the digital landscape continues to evolve, television advertising is anticipated to maintain stability, with the prospect of growth as we progress through 2024.

In 2023, the resurgence of FMCG marked a significant trend: Ashwin Padmanabhan

As content consumption patterns undergo a transformation in India, marketers are adjusting their ad budgets accordingly. This shift reveals a noticeable trend in the evolution of advertising strategies among Indian advertisers, influenced by the surge in digital AdEx. Not just that, advertisers are reshaping their content formats to align with digital platforms, emphasising targeted reach and measurable ROI.


In an exclusive interview with Storyboard18, R. Venkatasubramanian, managing director of Havas Play and president of Investments at Havas Media, discusses the journey towards achieving the milestone of Rs 1,412.5 billion by 2028, the changing priorities of marketers, new ad real estate, and more.


Edited excerpts 


India's advertising market has seen significant growth when compared to global numbers. What factors do you believe have contributed to this remarkable ascent?

 
India's advertising market has indeed experienced remarkable growth, and several factors have contributed to this ascent. India's steady economic growth has attracted both domestic and international businesses. With a burgeoning market, companies are willing to invest more in advertising to establish their presence and capture market share. Favourable government policies and regulations have encouraged foreign investments and eased market entry for advertisers, fostering a conducive environment for advertising growth.

 
Cultural diversity and diversification of media channels with adoption of the digital revolution has opened up new avenues for advertising. India's passion for cricket and Bollywood has made sports and entertainment marketing a significant avenue for advertisers. The rapid growth of e-commerce players and burgeoning middle class with increased disposable income has created a larger consumer base. E-comm advertisers target this segment with tailored campaigns for products and services, driving the demand for advertising space.

 
Considering the above market expectations, we are looking at reaching the milestone of Rs 1,412.5 billion by 2028, with a CAGR of 11.2 percent during 2023-2028 cycle. The largest market in terms of India is primarily ‘TV & Video advertising’ with a volume of USD 6.05 billion as of 2023 and is expected to grow at a steady rate of ~15-16 percent in the year 2024.

 
In the recent past we have seen a significant increase in digital AdEx. Do you think there is a shift that is influencing the advertising strategies of Indian advertisers? Specifically, how are budgets being allocated between digital and traditional TV in response to this trend?

 
Absolutely, there has been a noticeable shift in advertising strategies among Indian advertisers, largely influenced by the rise of digital AdEx. This shift is evident in how advertising budgets are being reallocated between digital and traditional TV. Advertisers are more focused on an integrated approach, complementing TV with digital strategies to create a more cohesive and effective marketing mix. Advertisers are adapting their content formats to suit digital platforms with more focused on targeted reach and measurable ROI. Advertisers are becoming more flexible with their budgets, often reallocating funds from traditional TV to digital based on campaign performance and audience behaviour.


While traditional TV advertising remains significant due to its wide reach and impact, the trend clearly indicates a growing preference for digital platforms among Indian advertisers. The shift in budget allocation reflects a strategic response to the changing media consumption habits and the effectiveness of digital advertising in engaging target audiences.

 
The digital advertising landscape is evolving beyond the dominance of Google and Meta, with new entrants like e-commerce and even music apps gaining traction. Can you provide insights into emerging opportunities in digital space?

Certainly, the digital advertising landscape is continually evolving, presenting emerging opportunities beyond the dominance of major players like Google and Meta. Few examples of emerging opportunities in the digital space like, e-commerce platforms / streaming platforms, gaming and esports, audio and podcast platforms, native advertising, AR / VR, contextual targeting, interactive and shoppable ads

Surprisingly, we are looking at a power packed 2024, as we have FIH Olympic Qualifiers hosted by India, Volleyball Championships, Marathons, Badminton Championships, Tata IPL, TATA WPL, and all the respective qualifications tournaments of the sporting extravaganza – the Paris 2024 Olympic and Paralympic games coupled with the ICC Men’s T20 World Cup 2024, Moto GP, Formula 1, Tennis Grand Slams, PGA tours.

A perfect example, we can probably think of is - Spotify acquiring the stadium naming rights for FC Barcelona in 2022, which is now called as Spotify Camp Nou.

All of these are powerful marketing opportunities for potential brands who look for engaging and exploring branding opportunities via digital marketing platforms or via association with linear TV partners and/or go ahead with offline investments depending on their needs and wants in the given quarter.


What kinds of brands do you see showing interest in the new advertising marketplace, and how does it offer unique benefits to them?

 
All the way from FMCG to a small home-grown brand are looking at exploring opportunities in these new advertising marketplaces offering a significant no. of opportunities and exposure to the brands to promote their products, services, or a cause in the given timeframe.

The unique benefits these brands derive from the new advertising marketplace includes, Precise targeting, measurable ROI, flexibility and agility, direct engagement with innovation and creativity. Overall, these brands find value in the evolving advertising marketplace due to its ability to offer tailored, measurable, and innovative ways to engage with their target audiences effectively. 

With major sporting events like IPL and the World Cup concluded, what upcoming intellectual properties (IPs) are marketers currently focusing on? Furthermore, beyond cricket, what genre is gaining popularity among advertisers as a key platform for engagement?

 
It has been a powerful 2023 for the sports and entertainment markets overall. The kind of brand integrations we saw during the Women’s World Boxing Championship, the 1st Edition of TATA WPL followed by the TATA IPL and later with the performance of Team India at the Hangzhou 2022 Asian Games and the Asian Para Games winning a combined ‘historic total’ of 2018 medals with brands coming forward to show their support by associating with the Olympic & Paralympic teams respectively was an eye opener for all of us as agencies and brands.


It's literally the end of year 2023 and we still have properties like kabaddi, football, volleyball, music festivals, fashion shows offering the brands the visibility and reach they need to connect with their consumers in their respective TGs.

 
Now with cricket part of the LA 2028 Olympic and Paralympic Games, we don’t have just one single genre that’s gaining popularity, we can easily name multiple properties like athletics, boxing, tennis, shooting, golf, kabaddi, badminton who are leading in different scenarios and giving a tough fight to cricket.

 
Like I said, the year 2024 is again a power packed year for all of us offering a significant growth to the brands and the AdEx industry all together.

 
Political advertising played a significant role in the advertising expenditure of 2023. How do you see political ad spending contributing to the overall adex, and what expectations do you have for political advertising in 2024, especially considering upcoming elections?

 
Yes, Adex will definitely go up substantially due to political advertising in the month of January-March 2024 and the expectation will be 30-40 percent more compared to last year in the particular period.


Looking ahead to 2024 and beyond, what are the prevailing trends in the advertising space, and what do you anticipate being the next significant development or innovation to watch out for in 2024?


As we look ahead to 2024 and beyond, several prevailing trends are likely to shape the advertising space. Few prevailing trends and potential developments to watch out for are personalisation and data privacy, AI and automation, sustainability and purpose-driven marketing, interactive content, dynamic creative optimisation.


The next significant development in 2024 could revolve around further integration of these trends, perhaps a breakthrough innovation that seamlessly combines AI-driven personalisation with immersive experiences in emerging platforms like the metaverse or refined solutions for balancing data privacy and effective targeting. Innovations that enhance the user experience while respecting privacy concerns are likely to stand out as major advancements in the advertising landscape.

AdEx to see 30-40 percent surge with Q1 2024 political advertising boost: R. Venkatasubramanian

Note to readers: Media Mavens is a Storyboard18 series featuring media investment firms and power players - the X-Women and X-Men who make the big calls on how and where to spend advertisers' money. This is a peek into their minds - how they work in a dynamic landscape, the next big trends they’re watching for, insights into what advertisers need today, the disruptors driving change and the factors driving their decisions. Watch this space for sharp and fast insights.


Delhi-based homegrown media agency Alliance Advertising had a good twelve months. The agency onboarded clients like CarDekho, Insurance Dekho, Kaff Appliances, Formula-e, Multani Pharma, Kanodia Group, Kuhl Fans, Coursera, Kei wires, Lava, among many others. According to V Narayanan, CEO of the agency, with content being platform agnostic, media outcomes are critical. “Clients are clearly looking at how media and communication strategies can help drive business outcomes,” he says. The agency is focusing on building first party data partners and client-owned CRM data. Along with deploying artificial intelligence and machine learning as per client requirements.


Narayanan agrees some of the challenges like lack of single source measurement of TV and digital, right talent, deficiencies in credibility and authenticity of digital data need industry level addressal. Yet, media agencies are far more future-ready than ever before.

Edited excerpts.


How has the media planning gambit changed in the recent past?



In a pre-digital era, one would understand the buyer through research and other syndicated studies. The panacea of media planners was to target them efficiently in terms of views. However, with digital being more ubiquitous, consumers place their imprints in the form of cookies, etc., which makes it sharply targeted.

 

Earlier, planning metrics were limited to audience views. However, currently it is a disposable world of posts, views, likes, comments, reviews, tweets, bytes, Reels, shares, add to cart, purchase, downloads, repurchase, etc.

 

There is a heightened need to move the metrics from SOV (Share of Voice to SOE (share of consumer experiences).

 

What is the single biggest change that will change the advertising business?

 

Today’s consumer is much smarter than the traditional journey is built for. The way consumers navigate the journey is also changing and constantly evolving. Digital transition is inevitable with digital ad spends capturing the lion’s share of India’s ad spends and digital eyeballs surpassing traditional media.

 

Some of the key challenges according to me are:

 
Consumers reach getting more f-r-a-g-m-e-n-ted.

Building top of mind awareness for a brand in a fiercely contested market place is a huge challenge to procure in a digital world.

Consumer trust is declining and it is getting more and more difficult to sustain loyalty.


What are the myths around the business of media planning that Alliance is trying to change?

 

There are a few. Let me break it down.

 

Myth: Media has not always been bought on CPRP (cost per rating point) and rates.

 

Truth: While rates are hygiene, we need to view media from a business outcome perspective. Hence, a paradigm shift from CPRP to cost per outcomes. 

 

Myth: Media planning is just making plans and making timely releases.

 

Truth: Media is also all about driving innovations and creating disruptions. When we receive a media planning brief, our teams get back to the client with a complete communication and business outcome plan.

 

Myth: Media planning is all about numbers provided by the industry research sources. 

 

Truth: Apart from the reach numbers, media planning is also about capitalising consumer trends and unearthing unique opportunities and trends.

 

How are you viewing the happenings like people churn, layoffs and funding winter in certain sectors like tech? 

 

Yes, I would say there is a “technocalypse” with big tech companies struggling to drive revenue growth. One would expect a higher inflation resulting in higher relative cost per acquisitions. Clients will start relying on first party data and subsequently own a stream of data like a new age D2C brand.

 

How are you trying to make Alliance a future-ready company?

 

We are agile and tech enabled. We are powered by a ROI outcome mindset. We strongly believe this formula: C (Creative) x D (data) = CE (Consumer Experience). It’s a fact that data, creativity, and measurement being the cornerstones is shaping consumer experiences. Brands need to leverage an unprecedented level of personalization and customisation within the consumer journey, informed by data, infused by the brand purpose.

 

Being an independent agency, we also work cohesively and not in siloes. Future belongs to those brands whose consumer creates, tells, and shares authentic stories about the brand rather than the brand hard selling its own story. We will continue to pivot from the bottom of the funnel performance to top of the funnel approach recalibrating emphasis on performance of media. We are also focused on building on first party data partners and client-owned CRM data. Along with deploying artificial intelligence and machine learning algorithms wherever applicable.

 

Media space is rather mercurial and we need to stay true to your brand. Lead the change rather than the change lead you.

 

From a talent lens, why do you think young people are not too keen on careers in advertising? What should agencies focus on to attract them?

 

Yes, attracting the right talent is definitely an imperative for the agency and the industry as well especially at junior roles. It is this segment, where the perceived role is more profound than the monetary value offered.

 

The industry needs to look at the following to attract better talent:

1. Fostering diversity in roles and developing cross functional talent.

2. Empowering them and giving them the freedom to explore new approaches and encourage new thoughts.

3. Focus on how we build innovation as a process.

4. Leveraging technology to make mundane jobs automated.

5. Constantly celebrate and reward their success achievements.

Media Mavens: 'Media planning is about capitalising consumer trends and unearthing unique opportunities,' says Alliance’s V Narayanan

Note to readers: Media Mavens is a Storyboard18 series featuring media investment firms and power players - the X-Women and X-Men who make the big calls on how and where to spend advertisers' money. This is a peek into their minds - how they work in a dynamic landscape, the next big trends they’re watching for, insights into what advertisers need today, the disruptors driving change and the factors driving their decisions. Watch this space for sharp and fast insights.

After the merger of WPP’s media investment group GroupM agency brands Essence and MediaCom to form EssenceMediacom, the new entity is focussing on providing digital-first planning solutions to clients. In a conversation with Storyboard18, Navin Khemka, CEO at EssenceMediacom South Asia talks about priority areas, big shifts in the media landscape and what skills new age planners require to be effective.

Edited excerpts.

<blockquote>"The success of IPL will depend on whether broadcasters are able to increase the number of advertisers from 100 to 500. This could also fuel AdEx in H1 2023."</blockquote>

What are your immediate priority areas for EssenceMediacom?

With the merger done, we want every single client to have a transformative plan given the changes we are seeing in the media and consumer landscape. India will also play a bigger role in the development of the merged agency globally. This comes from the fact that the country is already the third-fastest growing market globally, only behind the US and the UK. The blend of the team of Essence and Mediacom is completely unique. We have partnered with the aim to ensure that every client team will have an array of specialists, including content planners, content analysts, and data specialists working as one, and that’s a unique combination. We’re working with something called ‘breakthrough planning. This we want to activate across the agency teams and offices with speed.

As the world prepares for a slowdown, how are you preparing as an agency as clients may become cautious when it comes to media spends in India? Do you see a slower AdEx growth for this year?

<blockquote>"Today, it is not about your scale, or your digital expertise, but your ability to holistically understand the complexity that the consumer is experiencing with so many emerging platforms. So, it’s no longer creative-first, but platform-first, and solutions must be platform-agnostic."</blockquote>

Last year was difficult for all of us, including broadcasters and digital partners, because the cost pressures were for real, and the inflationary trend meant a reduction in marketing spends to maintain short-term margins. This obviously had a trickle-down effect on the media. Also, the start-up funding has dried up, which has aggravated the situation. So, it was almost like a double whammy thereby affecting AdEx. However, we saw growth at EssenceMediacom last year. We have been the top-performing market globally. We want to keep adding more categories and India is giving us the opportunity to grow. As a result, we now have a very healthy mix of global and local clients.

This year, January was extremely slow. February-March onwards we are looking at a lot of summer categories, and things have started to look up. Start-ups are still slow right now, however, with the women’s IPL coming up and the men’s IPL starting in April, we will have an advantage. Also, for the first time in two years, the men’s IPL is coming back to the country with all the activations possible on the home ground the interest levels are higher. This is also the first time in the last five years that IPL is going to be sold by two different broadcasters. Both television and digital broadcasters are trying to reset what you could expect from a viewership point-of-view. There is a very interesting fight that is going on right now in the market. It will only help unlock the true potential of the IPL. Now everyone will try to get more advertisers on board and make it possible for local brands to advertise on IPL. The success of IPL will depend on whether broadcasters are able to increase the number of advertisers from 100 to 500. This could also fuel AdEx in H1 2023.

What are the big shifts in the media landscape today both globally and in India?

<blockquote>"The consumer journey is getting increasingly complex and for a planner to succeed they need to keep upskilling and collaborating."</blockquote>

The media landscape is changing rapidly. It represents the third era of advertising, which is neither scaled nor digitised. ‘Era one’ being the time when MediaCom, as an agency, was growing when scale and size were important; while ‘Era two’ was more digital, and this is when Essence was born. Today, it is not about your scale, or your digital expertise, but your ability to holistically understand the complexity that the consumer is experiencing with so many emerging platforms. So, it’s no longer creative-first, but platform-first, and solutions must be platform-agnostic. I would say that the ‘Third era’ of advertising is what gave birth to EssenceMediacom, and we are now equipped to write this journey for our brands.

In a dynamic world of today, what are the key strategies that can help planners/buyers to do their job better?

New era planner needs to be integrated and media agnostic. Media is getting not only complex but sophisticated. The consumer journey is getting increasingly complex and for a planner to succeed they need to keep upskilling and collaborating.

<blockquote>"EssenceMediacom's target is to grow at 30 percent higher pace as compared to India’s AdEx growth."</blockquote>

What are your targets for 2023?

EssenceMediacom target is to grow at 30 percent higher pace as compared to the India’s AdEx growth. In the last three years given the toughest covid conditions, we have managed to grow in India and are confident to achieve our targets. We are also looking to expand to new markets in India in 2023 and increase our footprint.

IPL’s success depends on broadcasters expanding the advertisers pool from 100 to 500: EssenceMediacom’s Navin Khemka

WPP’s media investment group GroupM restructured its agency brands merging Essence and MediaCom to form EssenceMediacom, a new agency that fused the digital and data-driven DNA of Essence with MediaCom’s scaled multichannel audience planning and strategic media expertise. Nick Lawson, the Global CEO of MediaCom now leads this newly formed EssenceMediacom. India was the first market he visited after the merger. Storyboard 18 caught up with Lawson to have a candid conversation about the vision for this new entity, the India business and, with 10000 people and 120 offices around the world, how EssenceMediacom is close to becoming the largest media investment agency globally.

Edited excerpts. 

The first market that you are visiting after the merger is India. What is the goal that you have set out for Navin Khemka, CEO of EssenceMediacom South Asia, in the country?

I genuinely believe that in the next 3-4 years we can probably double in size. We launched as the third biggest agency in India and think the potential for us is exponential. We can also grow in share of what we do for clients as well. The part of the proposition of putting Essence and Mediacom together is that you don’t have to now choose between the traditional media agency and a performance agency. We are giving clients the best of both. So, I didn’t want to create a slightly better version of Mediacom or a slightly better version of Essence. I wanted to create something new. It is called EssenceMediacom. It is a bit of a mouthful. I think we can shorten it to ‘EM’. 

Both brands have a global reputation and we wanted them to be associated together. And we want to really challenge the market, challenge the clients around some of the big questions that they are facing. Questions like ‘how can I get my creative and media to work more closely together’. We got a whole ecosystem which I call ‘new commerce economy’ building up and the clients are struggling to get right messaging on the platforms. With our experience especially with Google as our biggest client across the world, we can also answer some of those questions in some areas.

I also think a lot of clients are struggling with budget. How does my marketing budget really payback on my P&L, how do I justify the money that I spent to my CEOs. I am really more interested in becoming more central to a client’s ‘comms’ strategy.

It took 9 months to merge these two entities. What was the impact on the cultures? How did the cultures mesh together? Many say that the agency cultures were quite different and distinct.

Agencies are based on culture and I am great believer of ‘culture eats strategy for breakfast’. If you haven’t got the right culture, you are never going to be successful. Culture has been the main focal point for me - how to build a common culture between those two agencies. We were both ‘people first’ agencies. Essence called their people ‘Essentials’ and we kept that, whereas Mediacom always said that ‘people first better results’. So now we have joined the two, people are always at the heart of our business. 

EssenceMediacom is a place where people can grow their careers. If you look at my background, I have spent 30 years. I started off as somebody’s assistant in Mediacom in the early 90s and I worked my way up right through the company and I want everybody at EssenceMediacom, if they want that opportunity, then to have it. So the most important thing is that we are going to be ‘growth orientated’. And the I am also great believer in looking at personality types. If you look at Mediacom’s personality I would define as ‘drivers’ and very expressive in nature. We are very goal orientated, we are very competitive on new business. And then I define ‘Essence’s culture as more analytical and amiable. But we are a formidable combo. So kind of complete a fully rounded personality.

Is that working well?

That’s where magic happens, right? It has been an incredible journey. It has been humbling, getting to know the talent across. I know Mediacom inside out. But it has been humbling getting to know the Essence talent. And if you look at the global team that we recently announced, it has been really well balanced between Essence and Mediacom. 

10000 people across 120 offices around the world. That makes you the largest agency under the new GroupM restructuring exercise. What are the goals that you have outlined for global leadership teams and teams from the other markets considering the current economic concerns globally?

We are pretty close to being the largest global agency. But I am not obsessed with size, I think scale is important in media companies for capability reasons. But I think for me now it is really positioning ourselves as crucial to client’s needs. What I want be is the most recommended agency in the world.

What has been the impact on clients post the merger. How are they looking at this new entity?

First, we certainly wouldn’t have gone ahead and done this merger without speaking to some of our key clients. The great thing about Essence and Mediacom is that we are pretty complimentary businesses. We have no major global conflicts. We did have some conflicts in the UK, there we are maintaining two separate offices. There we have got EM and EMx in UK. And we have talked to both set of clients and they are appreciating the fact that we have kept separation in teams. I think we have handled that very well. And we had to defend some clients along the way. And we did a big global defense of PlayStation and it has been very successful.

On that note, what does the new business pipeline look like? Any new businesses acquisitions in India and other markets?

Since I have been here, we have won 3 clients! I don’t know whether Navin just wanted to condense them all to my arrival. Navin has got a fantastic track record over here. I expect India market to become double really in the next 3-4 years. I think we will be super competitive in this market. I also think this is the best example of WPP. We are sitting in the WPP Campus. I think this is the best example in the world of the power of WPP

Three decades for you in advertising. You have seen the agency through all its life stages and the agency has seen you through all of yours. What has been the journey like and how have you seen the agency evolve over the past 30 years?

I can connect the old world with the new world in media agencies and there are very few of us still right now who can do that. When I joined the agency there were media departments within creative agencies. And I have seen the journey of the separation of media, making media really important and pure play. We are going to graduate to being all-rounders of the communications industry. Which is where I think media agencies will end up in the future.

I didn’t join a company with 10000 people, I joined a company of 34 people which was bought by Mediacom in the late 90s. So I have worked for small companies, I have done every job in between.

It has been 20 different jobs, even though essentially I have stayed within the agency. I come back to the point that the only reason that I stayed there was because I was given the opportunity to grow in the company and we were a growing company.

What made you stay for so long?

There hasn’t been a better time to be in media. When I joined in the first place, secretly I wanted to be a copy writer, I am so glad I didn’t. I was not so good at it. Because media has been the most dynamic and exciting place to work in the last 30 years. And more so today if you think about what’s happening in the market. 

Your key advice to brands and marketers going forward?

Think differently, think about how you break through in the new communications economy because you cannot do exactly what you were doing before. Eyeballs are shifting and straight play advertising isn’t going to work in the future. So, you have to start thinking differently about how you go about getting across your messages.

EssenceMediacom global CEO Nick Lawson: We are pretty close to being the largest global media agency

Note to readers: Media agencies have seen a 360-degree change when it comes to measurement metrics, strategies and services offered to the clients. What has also changed drastically is the gender gap. Thanks to the women leaders in the space who are showing the way for more and more media experts to aim for top leadership roles at these agencies. Storyboard18’s special series brings to you an exclusive behind-the-scenes view of the media agencies led by women.

The discourse on gender needs to become irrelevant, says Sonali Malaviya, chief strategy and transformation officer, EssenceMediacom. She explains, “We need to bring it to a common playing field with individual needs. The needs of a man and a woman may be different and that’s okay. We need to normalize that." In a conversation with Storyboard18, Malaviya talks about addressing the gender gap in the industry, work-life integration, the slowdown effect on businesses and marketing budget and more.

Edited excerpts.

You took on a new role as the managing director of Essence in the midst of the pandemic. Tell us about the journey and tell us about the changes that you introduced in the system?

I joined Essence in 2018. I was leading the agency’s Google business in India and Southeast Asia as senior vice president, client services. It was mid 2021 when I took on the role of managing director at Essence. It was an extremely tough time to take on this role and that too remotely because people didn't come back to office until almost five to six months after that. This was at a time when people had gone through a lot of loss and a lot of unhappiness. We had to think about how to connect and engage with people and boost their morale.

It started from building a lot more communication at all levels. We started company meetings, talking about the good work that was happening across offices, sharing work and started to build transparency and an open collaborative culture again. Seeing a lot of people talk to each other and creating as much synergy and as much visual presence as we could in the absence of being in person was actually the next best thing that we could do. Strengthening communication at all levels helped us in giving people a sense of relief and assurance that things were starting to look up.

Then there was a lot more enablement and accountability which allowed for decentralization and easing of roadblocks to let people run at their own pace and be the best versions of themselves. The next thing we did was clearing up structures and that's one of the big things that really helped us move forward with a greater pace. Nobody was fending for themselves because they could actually tap into the experience of the larger organization and yet, do what they did best and then bring the two together seamlessly. 

<blockquote>I am a believer in work life integration. We are what we are but one person and there will be times that life is demanding and demands from one dimension will seep into the other.</blockquote>

The third thing in the same series was continuous skill building and the last thing that I would focus on was the renewed commitment to our culture which has been what has set us apart and been our cornerstone. We brought back our focus on what is really precious to us, which is diversity, equity and inclusion and mentorship. So all of these things together renewed our sense of purpose and helped us build the successes that we've had in the last 18 to 20 months.

As a leader how do you strike that work life balance for yourself and also for the team?

I am a believer in work life integration. We are what we are but one person and there will be times that life is demanding and demands from one dimension will seep into the other. There are times that you will have to over index on work and there are times that your home needs your attention. In my head, it has to be seamless, it has to be integrated. This applies to both men and women. Our line of work has late nights, early mornings and working weekends sometimes. If that is okay, then why is it not okay if it’s the other way round.

I have always tried to say that there will be times that your family needs you. We're not in the business of saving lives that we have to be present at every moment and therefore I believe in that synergy and that integration. That is where the culture of accountability comes in, where you know what you have to do so do it at your own pace.

What are your leadership mantras?

For me leadership is about setting the tone and culture of the organization. It is about embodying what you want others to do. It's about walking the talk. This attitude has really paid really, really dividends for us. My style of leadership is extremely adaptive. I believe in situational leadership, adapt to the situation, to people, to teams and to the need of the hour. It could be anywhere from delegation, to being participative and sometimes even telling people what to do. What's key to me is to be flexible, and adjust to the requirements of the team in the moment that we are. It's impossible in a dynamic world like ours today to actually be a kind of rigid leader. It doesn't work for people. It doesn't work for our clients and it doesn't work for the organization at large.

As someone who has been in the ad business for so long, how do you think that the industry can fix the gender gap especially at senior leadership levels?

At this moment, I think gender gaps are probably less of a problem than then the tone and voice around how genders show up. The most important thing we need to do is to manage unconscious biases. That to me is the most important challenge that we need to fix if we want women and men and actually everyone to play to their strengths and be the best versions of themselves.

<blockquote>As brand marketing starts to take center stage again, shifting the lens firmly towards consumers will ensure much more sustainable and effective outcomes.</blockquote>

The discourse on gender needs to become irrelevant. We need to bring it to a common playing field with individual needs. The needs of a man and a woman may be different and that’s okay. We need to normalize that.

We need flexibility. If it’s normal for a man to come late to work and leave late in the evening because that’s what he needs, it’s also okay for women wanting to leave on time because she has family responsibilities. Like I said that discourse doesn't have to be about the hours, it should be about accountability and what you have to do.

The second thing I think we need to do is to change the narrative. If a man is being assertive or aggressive, it's seen as okay, it is seen as a positive. If the woman is doing the same, she's viewed negatively. And there is a lot when your eyebrows are raised. We have a lot of gender stereotypes in our heads and we need to get rid of them.

The discourse should be more about what the work situation needs and gender shouldn’t have a role to play in that. The other thing that is important for me is flexibility. I think individuals play multiple roles. We are caregivers, we are professionals and we do so many other things. There shouldn’t be any stereotyping in that. If we haven't learned this during the two years of COVID we never will.

Compared to creative agencies, media agencies have more women leaders. Why do you think that's the case?

Firstly, I am glad that the gender equation in creative agencies is changing. With Devika Bulchandani’s appointment as the global chief executive officer of Ogilvy, WPP has made a definitive statement of meritocracy being the way forward. To me, this is so powerful. Even in India, not just media agencies but creative agencies are being run by very capable and competent women leaders, which in my mind is starting to make the question on gender representation more important. Closer home media agencies for the longest time have been about meritocracy and been led by stalwarts who happen to be women. They've raised the aspirations of the next generation to follow their path. I am the product of that inspiration. So regardless of it all, I will re-emphasize that media agencies having women leaders is completely based on merit and capability. The fact that they're women is just happenstance.

<blockquote>At this moment, I think gender gaps are probably less of a problem than the tone and voice around how genders show up. The most important thing we need to do is to manage unconscious biases.</blockquote>

How have the skills required to do the job well changed over the years? What are the key skills required now - at entry and mid-levels?

The role of media agencies in the client ecosystem is evolving very rapidly. I think increasingly the expectation is for agencies to play the role of partners and trusted advisors. This is starting to reflect on the kinds of skills required to do the job. The goal post today is very firmly about driving business outcomes. If you're partnering with clients, then you have to be equally accountable for their business requirements and be catalysts in their success. Now on one hand there is super specialization in areas of functional expertise and on the other hand is what I like to call the conductor of the symphony-someone who strings the proposition together in the service of driving business KPIs, so it is about width, and it is about driving depth.

So what we look for is specialists in their domains and also people with a business mindset. People who are wired to solve for the business. So you have the best of both worlds specialists who are true to the craft and marketers who are true to solving for the business. That is what is guiding how we look for people. Having said that, the composition of today's world is as much of soft skills as it is of hard skills. For us capability without the potential for a cultural fit is a no go. So we look for team players, we look for collaborators, we look for people who have an attitude of succeeding together when we look for our next generation of leaders. Finally, what underpins all of this is the mindset, an innate sense of curiosity, an innate need to make an impact and being excited about the work. So in a nutshell skills are important, but they're not the be all and end all for us.

The cultural fit is as important as is the mindset where the person actually loves what they do. I use this hashtag extensively, which is love where you work, love what you do and love who you work with. So some of these things capture my philosophy towards the next generation of our leaders and the kind of organization we want to build.

Talking of changing business needs, how much are the clients ready to push boundaries both in terms of budget and in terms of innovations?

Now that’s where being experts at our craft really plays up. I'll take a slightly contrarian stance here and look at it from an audience lens rather than a platform lens. Today's reality is driven by consumers and the choices they make. It's no longer enough to just be on any platform and hope that we will succeed. So consumers when they are converted to audiences in media parlance, don't make their choices depending on a platform or a medium, they make it on the basis of the content they want to consume. So ultimately, brands and depending on what their objectives are, need to follow them and communicate meaningfully with them. 

As brand marketing starts to take center stage again, shifting the lens firmly towards consumers will ensure much more sustainable and effective outcomes. When we talk to clients we do not talk about the language of one platform versus the other. It is about the outcomes and if we're going to be equal partners in their success, then making sure that we do justice is not just a responsibility, but it's something they've entrusted us with. So in my head, it's a little bit more about us playing the role of experts that we are and explaining how we need to be a lot more audience centric, and therefore go after whatever touch points or activities that we need to do to get to the ultimate outcome. Our accountability is driving that.

<blockquote>Now more than ever there is the need for the media and business world to come together to completely transform itself to drive business outcomes. A lot more accountability is expected from business partners, a lot more tightening of what we do and what makes an impact is the need of the hour.</blockquote>

A lot of leaders across industries have been sharing their experiences of acquiring new skills in the two years of lockdown. Have you had similar experiences?

Change has only ever been the true constant for me. It's the only thing that keeps me interested, excited. I've been lucky that I've had opportunities to constantly reinvent myself every couple of years. I started off as a traditional planner then a communication strategist followed by being a researcher, marketer, business leader and a catalyst for transformation and across the journey I’ve constantly picked up new skills every day. right. It is really important to be able to move forward with the times and be able to constantly reinvent yourself. It's a journey I embarked on very early in my career, and it's something that keeps me excited, I guess my firm belief towards life in general and work in particular, is reflected in this beautiful quote by HG Wells that says, “Adapt or perish, now as ever, is nature's inexorable imperative”.

Given the current global economic climate, how do you think brands’ media and marketing budget for 2023 will be affected or?

Now more than ever there is the need for the media and business world to come together to completely transform itself to drive business outcomes. A lot more accountability is expected from business partners, a lot more tightening of what we do and what makes an impact is the need of the hour. What we see today is a cascade effect and it was something that was predicted from the middle of last year and the drumroll has become even louder as we got to the end of last year. At GroupM and WPP we’ve been really tightening ourselves to actually become more and more accountable every single day. Driving synergies across functional expertise towards a larger goal is what we believe is the need of the hour. 

Deploying audience data towards maximizing outreach effectiveness and building seamless technology stacks to enable efficiency, supercharged by advanced analytics continually optimizing our efforts is what the media ecosystem can effectively support and enable for clients. We work with a lot of D2C clients, technology clients, startups and FMCG majors and today the resounding cry is to get as effective and as efficient in everything we do. Accountability has never been a greater task as it is today.

Media Mavens: More accountability is expected from business partners today, Sonali Malaviya, chief strategy and transformation officer, EssenceMediacom

Note to readers: Media agencies have seen a 360-degree change when it comes to measurement metrics, strategies and services offered to the clients. What has also changed drastically is the gender gap. Thanks to the women leaders in the space who are showing the way for more and more media experts to aim for top leadership roles at these agencies. Storyboard18’s special series brings to you an exclusive behind-the-scenes view of the media agencies led by women.

Sheryl Sandberg inspires her. “I keep telling myself what Sandberg said. What would I do if I weren't afraid?” Says Priti Murthy, president of GroupM Nexus. A certified coach, coaching mostly women leaders, Murthy feels being one’s most authentic self is of utmost importance. “If one can be authentic and win over fear they can achieve whatever they want to and no one can stop them from doing so,” she says. In a chat with Storyboard18, Murthy talks about her experiences over the years, her leadership mantra, importance of having the mindset to unlearn and learn and more.

Edited excerpts

It’s been over a year that you’ve joined the leadership team at GroupM. Tell us about the journey and the changes that you have introduced in the system?

My journey has been a journey of progress. Before joining OMD, I was with Group M in a different avatar so I wasn’t new to the system but there were changes that had happened in the five years. My role, for instance, didn’t exist before. We set up Nexus and my role here as the President entails bringing the center of excellence, delivery, data and performance together. That’s what Nexus is all about. So that itself was a new ecosystem that I was building. It's more than a year now and we can proudly say that the measurable successes have been in terms of data and tech intervention and automation and robotics and how the whole planning journey has been simplified. On the other hand, there has also been an immense unmeasurable impact on the clients and the agency ecosystem and how we service clients overall. While there are TRRs and all the wins, there are also innumerable impacts and value adds that you can't put a number to.

What are your leadership mantras?

Authenticity is of prime importance to me. I come from a place of a complete people-first approach and that allows me to be authentic. I'm also a certified coach where I coach business leaders. Women leaders to be specific. One of the big reasons I do this is because it helps me bring out my authenticity and help people with that even outside my organization. I want to make sure that I take my learnings and use them to enhance the journey of other women who aspire to be leaders.



<blockquote>The agenda here is simple. I want to pass on the opportunities that I have got during my career to the next generation of leaders.</blockquote>



From an organization perspective, the best way to pave the way for future leaders is by allowing them to grow and not stall them at any point. Quite a number of leaders under me have seen great growth in their career in the past fourteen months that I have been with Group M. The agenda here is simple. I want to pass on the opportunities that I have got during my career to the next generation of leaders.

As someone who has been in the ad business for a long time, how do you think the industry can fix the gender gap?

Advertising has always had women. The industry has seen some great women leaders like Roda Mehta and till date that trend continues to be strong.

Not just advertising, every other business is taking a conscious effort to bring in the right leader without any gender bias. If we talk of GroupM, our leadership executive committee of fifteen comprises six women. So we almost have a 60:40 ratio. The challenge is more at the middle level and the lower level.



<blockquote>Ten years ago it was digital-first. Now it’s data-first thinking. Before digital-first it was TV-first. Before that it was print. However, it has always actually been consumer first.</blockquote>



We have a program called M wizard where we take extra effort to bridge the gender gap and bring in more women at entry and mid-levels.

Moreover, standing where we are today I think the conversation in the boardroom is not about men versus women. I think it's about overall diversity and inclusivity.

Coming to the evolving role of agencies at the moment. How have the skills required to do the job well changed over the years? 

The reinvention of skills for me personally has happened every three to five years. From starting off as a TV -print planner to where I am today, is all because of this conscious decision of upgrading and reinventing my skills.

However, what has helped me most is the fact that the fundamentals of what I learned at the beginning of my career were so strong that it helped me throughout the entire transitioning of marketing communications from traditional to digital to content to technology.

Ten years ago we were talking digital first. But now it’s data-first thinking. Before digital-first it was TV-first. Before that it was print. It keeps changing. However, it has always actually been consumer first.



<blockquote>Some brands are seeing challenges coming from ‘born in the digital commerce ecosystem’ brands. Those brands are also parallelly shifting to brick and mortar spaces. There is a blending taking place.</blockquote>



Today to understand the consumer, you need first party data. 25 years back, it was probably the NRS survey. We have to evolve with every transition keeping in mind the basics of understanding the consumer.

There is a whole bandwidth of transition where I’ve put my hand up to try new things and take up experimentation. It is important to understand that everything will not always be successful but that doesn’t mean you stop trying new processes. The idea is to put the consumer first and then evolve and experiment around it.

How are clients' needs evolving? 

Digital transformation has happened for businesses across industries a long time back. What has changed is that they're now starting to invest more. Some brands are seeing challenges coming from ‘born in the digital commerce ecosystem’ brands. Those brands interestingly are also parallelly shifting to brick and mortar spaces. So there is a blending taking place.

We look at digital from such a narrow lens, but it's actually part of the commerce ecosystem. The consumer today doesn’t pre decide whether to shop offline or online. They walk into a showroom and like something but end up buying the same online and vice versa. So brands are investing more to capture this wide bandwidth of commerce.

Clients no longer come to you for a TV campaign alone or a print or digital campaign only. The demands are end-to-end and mostly what they ask for is integrated solutions. Every business is led by ROI discussions so that is an integral part of the deliverables but what is equally important is to have an end-to-end solution especially designed for the brand and the ecosystem that it exists in.

What are the key skills that you look for in the new generation of media buyers and planners?

As far as skill is concerned you can always put an employee on a training programme but what is more important for me is that I always look for some form of basic communication understanding and the will and the mindset to learn how we approach our clients and consumer marketing. What I look for in my hires is whether they have the mindset to experiment and transform themselves, whether they are open to learning and looking at a challenge from a very different lens rather than working with an attitude of ‘I have done this in the past and will continue to do so’.

Lastly, tell us about the big trends to look out for in 2023?

Today the trends are more towards connected content so connected TV will grow immensely during the year. 

The past five years have been about performance marketing which is all lower funnel but without branding and performance marketing working together, the ROI will not be as impactful. Hence, I see that as one brand and performance discussions pieces together. Lastly, COVID had stalled all the ground lead initiatives, those initiatives will be back with full force.

MEDIA MAVENS

Brand Makers

Lodestar UM's CEO wants to bring the romance back into a resurgent ad world

Quantum Brief

A paradigm shift towards holistic measurement will be imperative in 2024: Initiative India’s Vaishali Verma

Brand Makers

Ad industry to see more transparent programmatic ecosystem in 2024: Madison’s Vikram Sakhuja

Quantum Brief

In 2023, the resurgence of FMCG marked a significant trend: Ashwin Padmanabhan

Quantum Brief

AdEx to see 30-40 percent surge with Q1 2024 political advertising boost: R. Venkatasubramanian

Brand Makers

Media Mavens: 'Media planning is about capitalising consumer trends and unearthing unique opportunities,' says Alliance’s V Narayanan

Brand Makers

IPL’s success depends on broadcasters expanding the advertisers pool from 100 to 500: EssenceMediacom’s Navin Khemka

Brand Makers

EssenceMediacom global CEO Nick Lawson: We are pretty close to being the largest global media agency

Brand Makers

Media Mavens: More accountability is expected from business partners today, Sonali Malaviya, chief strategy and transformation officer, EssenceMediacom

Brand Makers

Media Mavens: GroupM's Priti Murthy says boardrooms are no longer about men vs women, it is about diversity and inclusivity