Every morning Kainaz Karmakar, Harshad Rajadhyaksha and Sukesh Nayak, the three chief creative officers (CCOs) of Ogilvy India, call up Piyush Pandey to discuss work and life. Pandey, who was Ogilvy’s chairman global creative and executive chairman India, has this week transitioned to an advisory position at the legendary creative network, handing over the reins of Ogilvy to the next line of leadership.

Pandey told Storyboard18, “In the last couple of years, all of us understood the need to collaborate. We need each other. Honestly, we look great as a team.”

Under the transition, Ogilvy veteran Hephzibah Pathak will take on the role of executive chairperson of Ogilvy India, and VR Rajesh will move from his current role as Group President of Ogilvy India to chief executive officer (CEO) of the agency. Meanwhile, the three CCOs – Rajadhyaksha, Karmakar and Nayak – and chief strategy officer Prem Narayan will join the Ogilvy Board.

Piyush Pandey and Ogilvy’s Global CEO Devika Bulchandani, discuss the new structure for Ogilvy India and business prospects. 

Listen in.

<div data-youtube="true" data-youtube-id="RfnsCc6DIok" data-youtube-title="Piyush Pandey Steps Down As Ogilvy India Boss: What Will Be The New Structure For Ogilvy India?" class="youTubeVideoPlayer" data-youtube-category="News & Politics"><iframe src="https://www.youtube.com/embed/RfnsCc6DIok" width="100%" height="360"></iframe></div>

Piyush Pandey and Devika Bulchandani on all things new at Ogilvy India

After over four decades at Ogilvy in various creative and leadership roles, Piyush Pandey, chairman global creative and executive chairman of Ogilvy India will move to an advisory role. In this role Pandey will continue to work closely with major clients and the agency’s executive team to ensure that Ogilvy India maintains its leadership position in India.

IPG Mediabrands India CEO Shashi Sinha is considered a pillar of the ad industry. Here’s why

Star Sports reacts to Rediffusion’s allegations of copied concept for Pro Kabaddi League ad

Spotify launches Spotify Audience Network

Spotify launches advertising marketplace Spotify Audience Network

Representational image via Unsplash

New rules on deepfakes would not only regulate the offender but also intermediaries: Experts

Why are Indian brands advertising in NYC's Times Square?

What Herman Melville’s Moby-Dick teaches us about leadership

Advertising is in the position where tobacco was: IPG's Arun Kumar 

Biz Moves: Interactive Avenues, Verve Media, Foxymoron and Grapes

There is an opportunity for building a better agency, not just a different one: Manja's Prajato Guha

Leadership battle in Zee-Sony merger: Will it be Goenka or Singh, given governance & regulatory concerns

Pitch imperfect? Social media posts for pitches evoke mixed responses from ad agencies

Swiggy retains Havas as its media agency: Sources

Throwback: What’s Onida’s ‘Devil Man’ up to nowadays?

Charlies Munger

Why did Godrej Consumer Products set up an in-house ad agency?

How Biki Oberoi floored a rookie brand manager in 45 minutes flat

Virat Kohli and his manager Bunty Sajdeh part ways: Report 

Adobe acquires GenAI firm Rephrase.ai that worked on award-winning Cadbury campaign

Marketing Mocktail: Lessons in building a D2C brand explained

OTT regulation in Broadcasting Services Bill is light touch and not same as others: MIB secretary Apurva Chandra

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

On June 1, 1945, Fritz Sennheiser, a German inventor and entrepreneur, founded the audio equipment manufacturing company that bears his name and went on to become a global brand. Today, Sennheiser has three business units: Pro Audio, Business Communication and Neumann.Berlin. 


In a conversation with Storyboard18, Andreas Sennheiser, the company’s chief executive officer, said, “The first thing is you have to hit a ‘need’. To not get complacent and to not be happy with what we've achieved, we have to keep listening to the customer and at the same time have a creative dissatisfaction with the status quo. So, the achievements of the past should always be seen as just the new standard. From there, we can iterate again.”


Edited excerpts:


<strong>Tell us more about Sennheiser’s India story.</strong>


We started bringing good audio to India in 2007. At the time, it was really hard to understand where the general public was with audio consumption. We found out that listening to music via headphones wasn’t a known principle. 


So, over the last 16 years, I think we've done quite well in developing the taste of enjoying music on the consumer side. For two years, we focused on the pro business only, along with business communication, and then our Neumann products also.


Particularly, in the last one-and-a-half years after the pandemic, we've seen very strong growth. On the live part, everyone wants to enjoy music, festivals, weddings and all kinds of corporate events. But on the business communication side, government, corporate and also higher education facilities are gearing up significantly for hybrid meetings, for remote lectures and also for a digital government.


<strong>Where do you see India in Sennheiser's growth map?</strong>


In the last two years, India has had one of the highest growth levels, with more than 50 percent annual growth.


As far as the general business globally is concerned, we could supply all our customers with products even during the pandemic. So, we were never really out of products.


<strong>From a product lens, what’s the focus?</strong> 


We have several focuses. There’s a general common focus that more and more of the technology that we’re using—it is highly advanced—is hidden behind very simple user interfaces. 


So, we want to make it as simple as possible, come up with seamless integration, plug and play with our installed business like ceiling microphones… This is so that an integrator, a consultant or the end user really doesn’t need to deal a lot with technology but actually can focus on the experience.



<strong>Many global CEOs are surprised by the way Indian consumers have evolved over the last few years. From a price-conscious market, we now are a value-conscious market. So, what are your observations and what is unique about Indian consumers?</strong>


Well, you just gave the right keywords. 


It has evolved from a price sensitive market of buying at the lowest possible level to now buying the highest possible value. So, with that, we are in an excellent position because we love competition. We love the direct comparison of our products with competitive products because usually this is when we win.


That's why value-based buying decisions are very much in our favour, because we provide superior audio quality. 


<strong>Globally, what are the trends in the audio space and do you see the adoption of those trends in India anytime soon?</strong> 


One of the big trends is that high–quality audio is being more and more appreciated. This is particularly when it comes to immersive audio and spatial audio. In the studios, we have more and more Atmos installations with our Neumann speakers. Also, on the playback side, we see a lot of venues now having full arrays of speakers for an immersive experience.


So, the whole appreciation for good audio has significantly increased over the last few years. At the same time, there’s also a strong trend of simplification of workflows. So, we try to focus on making the lives of our end users as simple as possible, particularly because there's also cost pressure on production, music production, news gathering etc. We want to give them the gear that they can operate with the least possible amount of people. 


<strong>What is the brand perception of Sennheiser?</strong> 


Sennheiser has a brand reputation of being extremely reliable, creating remarkable audio experience and being a highly innovative brand. 


The topmost factor is always reliability. In a meeting room, you don’t want to spend 20 minutes getting the system to work. An artist in front of 50,000 people, the only thing he or she can hold is a microphone, and that should not fail.


<strong>In terms of marketing, what are the big plans for India and what are the investments like?</strong> 

Our main investment is in people and education. So, it's people on our end and education on the customer side.

We see that the more there are highly talented technicians, audio engineers and people who know the difference between an okay system and a great system.

During the pandemic, we produced 200 tutorial videos: how to use our microphones, how to set up gear in general, and how to build a studio. A lot of things to just help the audio community do a better job.


<strong>In India, startups have been weaving a very different story in the last few years. As a family-owned company and one of the oldest startups in the audio space, do tell us what it takes to make a successful business and your advice for startups here. </strong>

The first thing is you have to hit a ‘need’. This is not only true in a startup, but also when a company like ours gets older. Now, we’re closer to the 80th year of our existence. To not get complacent and to not be happy with what we've achieved, we have to keep listening to the customer and at the same time have a creative dissatisfaction with the status quo.

So, the achievements of the past should always be seen as just the new standard. From there, we can iterate again. 

<strong>There are a bunch of profitable startups in the audio space here in India. What impresses you about them and are there any lessons that you can pick from them? </strong>

When startups have a platform economy in mind and then scale that up, they can very quickly cover a very broad demand, be it with fintech platforms or be it any other integration.


That is an approach that I find highly attractive because it's not product and gear oriented, but really platform oriented. And this is also a strategy that we're adopting more and more. We are not just selling gear to our customers, but we actually provide the control platform with it to make it as easy as possible. 


That has been a strategy for a couple of years—to have a lot of allies in the industry in order to allow a seamless integration for the end user. So, the platform is really the main focus. And, what we're selling in terms of gear is just an endpoint to the whole platform.

<strong>Has the target audience of Sennheiser evolved over time?</strong> 

Yes and no. Our target audience grows with us.

While there was an entry target audience a decade back that has now matured in age and in income, they are now being lifted to the next level.

I had a chance to meet with music composer duo Salim-Sulaiman. We had a chat about technology particularly, and they stressed upon how they started with simple gear and then moved to higher-grade gear.

Andreas Sennheiser: We have to keep listening to the customer and have a creative dissatisfaction with the status quo

Gen Z consumers are 50 percent more likely to take their friends' recommendation over an influencer or a celebrity when making a purchase decision, revealed a study from Yuvaa – the Indian Gen Z-driven youth media, impact, and research organization.

An Economic Times report states that the findings are based on a report titled 'Not All Gen Z'. The findings are based on responses from over 900 Gen Z participants, spanning over 20 cities across tier I, II, and III cities and towns of the country. Gen Z represents people born between 1997 and 2012 who show distinctive behavior in their lifestyle and shopping habits. At over two billion, Gen Z forms roughly 25 percent of the global population. It makes up for over 35 percent of India's population, according to Yuvaa.

Their estimated spending power is in excess of €235 billion, according to BCG. 

<strong>Influencers provide brand visibility</strong>

Karthik Srinivasan, a communications strategy consultant, believes that we trust the references and recommendations of the people we trust the most within our family or friends circle. However, influencers have a different role to play.

"They have come to usurp the role of mainstream media and advertising to a large extent and have become predictable sources of visibility more than influence. In other words, influencers (along with mainstream media and advertising) are sources of introducing products or services, use-cases, and giving them visibility, but they may not necessarily persuade people to make the purchase. That's where friends and family (known peers, colleagues too) would come into play," he explains.

Srinivasan tells Storyboard18 that influencers are merely shilling a product for a fee and have long stopped pretending to be actual users of a product to offer use-based/experience-based content/information.

"Even if they claim to offer personal experience-based recommendations, if viewers/followers see the disclaimer about paid content, they'd automatically discount that factor and take that recommendation with a pinch of salt," he adds.

Yuvaa's report findings also highlight a few key aspects of a Gen Z consumer who is not only willing to support brands that support social causes but also cares about sustainability. Around 63 percent of Gen Z shoppers surveyed said they prefer brands that support social causes. 

71 percent of Gen Z prioritize brands that are environment-friendly, and 77 percent consider price when buying something, even if it's not sustainable. Gen Zs are split equally between feminist and non-feminist brands, but 60 percent of women prefer them.

<a href="https://www.storyboard18.com/quantum-brief/amazon-vs-myntra-who-will-win-over-more-gen-z-shoppers-in-india-8247.htm">Read more: Amazon vs Myntra: Who will win over more Gen Z shoppers in India?</a>

<strong>E-com platforms chasing Gen Z</strong>

These trends are being closely followed and implemented in product and marketing strategies by e-commerce platforms in India. Storyboard18 reported that there has been intense competition between online retailers to woo the next generation of shoppers, with e-commerce platforms Amazon and Myntra actively investing in the Gen Z cohort.

Flipkart-backed fashion portal Myntra, for instance, announced the launch of FWD, an in-platform experience offering additional brands and styles curated for Gen-Z shoppers.

The move comes days after rival Amazon Fashion introduced the ‘Next Gen Store,’ catering to the unique needs of Gen Z shoppers, who seek to experiment with fashion and have varying preferences in terms of styles, sizes, brands, and fitting.

While Nykaa Fashion has not yet launched a dedicated platform for Gen Z shoppers, it has been onboarding brands that target this cohort. Recently, it added MIXT, which offers streetwear-inspired modern apparel options such as bodysuits, corsets, jumpsuits, jackets, cardigans, and footwear. It brought in Cider, a US-based label, expanding its global offerings to Indian consumers.

Gen Z segment has a distinct aesthetic that impacts their brand choices, which have been driving fashion trends – crop tops, ribbed dresses, chunky sneakers, and baggy jeans.

Unlike previous generations, which were heavily influenced by Bollywood and sports celebrities, Gen Z shoppers are more picky about who they follow. Social media influencers have emerged as a significant force in shaping their purchase decisions.

However, there is a catch. This group only follows influencers or celebrities who ‘walk the talk’ and are more trustworthy.

<strong>Value for sustainability, inclusivity</strong>

Bindiya Bhatt, senior director of category management at Myntra told Storyboard18 that for Gen Z, inclusivity, authenticity, and unconventionalism take centre stage as well.

"By embracing these values and catering to their specific needs, businesses can create more meaningful and impactful experiences that resonate with this important and influential demographic," she said.

Technopak Advisors' Ankur Bisen had a deeper insight, saying Gen Z shoppers are community-driven and seek better products rather than stay loyal to brands.

"...they are definitely seeking better products than brands and they are also looking at the consumption of fashion through communities. For example, there are communities towards gaming, nature, and even limited edition products. The spin-off from this trend could be the 'sneaker culture' in India and the craze to buy limited edition sneakers that are being sold online. These are some micro trends that one needs to notice," he said.

Influencers’ influence waning? GenZ listen to friends over social media influencers

Why PepsiCo India’s Lay's launched gourmet chips

Storyboard18 x Momo Media: Let's Talk - Masculinity in Advertising

“We will have another incremental billion dollars in the next three years for the home-grown billion dollar brand Thums Ups,” says Arnab Roy, vice president and head of marketing, Coca-Cola India and Southwest Asia to Storyboard18’s Shibani Gharat. He also talks about the brand’s new advertising campaign #HarHaathToofan.

<iframe title="Coca Cola's Arnab Roy On Thums Up New Campaign 'Har Haath Toofan' | Storyboard 18 | CNBC-TV18" src="https://www.youtube.com/embed/fXe4to9HL4Q" width="853" height="480" frameborder="0" allowfullscreen="allowfullscreen"></iframe>

Coca-Cola's Arnab Roy on Thums Up’s new ad campaign #HarHaathToofan

GE's Linda Boff on what it takes to reinvent a 130-yr old brand

Chat with IPG's Arun Kumar and Plum's Shankar Prasad and actor Ananya Pandey

Over the past few months, Metaverse has received a lot of attention. Some brands are viewing marketing in the metaverse as an opportunity to reach a larger audience in an engaging manner. Increasingly, automakers are getting onto the metaverse bandwagon to enhance their customer experience.

Mindshare India recently conceptualised and enabled the first ever electric vehicle (EV) launch in the metaverse for Volvo Cars in a space called Volvoverse. This is a first-of-its-kind collaboration across WPP agencies.

Watch to find out how and why they did it. 

<div data-youtube="true" data-youtube-id="KSSNbLIbIHs" data-youtube-title="In Conversation With Amin Lakhani & Amit Jain On Marketing In Metaverse | Storyboard 18" class="youTubeVideoPlayer" data-youtube-category="News & Politics"><iframe src="https://www.youtube.com/embed/KSSNbLIbIHs" width="100%" height="360"></iframe></div>

Meeting Amin Lakhani and Amit Jain in Volvoverse 

<span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span>Sudhir Sitapati joined the homegrown FMCG giant Godrej Consumer Products as MD and CEO last year when the world was beginning to open up in a post-pandemic era. 

In a candid interview with Storyboard18's editor Delshad Irani, Sitapati tells us how he articulated his vision for GCPL and his approach towards marketing and brand building. Sitapati also shares how Godrej is democratising categories, his advice for young marketers and leaders, and what he thinks is the secret to creating brands and businesses that are built to last.<span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span>

<iframe width="885" height="498" src="https://www.youtube.com/embed/-_5ThtcH_6w" title="In Conversation With Sudhir Sitapati On Godrej Consumer Products' Biz Outlook | Storyboard 18" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

In conversation with GCPL's MD & CEO, Sudhir Sitapati

Parikshit Sharma, 19, is an avid Spotify user whose day starts and ends with listening to music, podcast and audio streams on the platform. Sharma is not a premium user and doesn’t mind consuming ads.

“I don’t mind the ads as long as I’m getting my daily dose of music and podcasts,” claims Sharma.

Sharma is a classic consumer case for a wide variety of brands, including categories such as smartphones, confectionery, dating apps to video streaming platforms that are tapping the Gen Z and millennial consumer base (18-35 years) on audio streaming platforms serving smart customised programmatic ads. To be sure, there’s enough data on how well programmatic advertising works on videos and display though audio is slowly yet steadily pacing up as well.

A joint report by EY FICCI on India’s M&amp;E sector published in March states that the share of programmatic advertising increased from 10 percent of total digital spends in 2017 to 42 percent in 2021.The increased prevalence of programmatic guaranteed amongst publishers, as they can guarantee both price and impressions to advertisers. The digital media segment grew 29 percent to reach Rs 303 billion in 2021 and it is expected to grow further at a CAGR of 20 percent over the next three years to touch Rs 537 billion.

“Programmatic advertising is now extending its remit to sectors like audio OTT, DOOH, etc., and we can expect to see several platforms come into being to serve even traditional platforms like radio and regional television in future,” the report notes.

<strong>Headroom for growth</strong>

The usage stats clearly indicate key trends as well. The EY FICCI report states that Indians spent 4.7 hours a day on their phones in 2021, aggregating 700 billion hours of consumption (second highest in the world). Around 197 million people streamed music online in 2021 on a monthly basis. However, India was ranked 20th in terms of consumer spend which in turn means enough headroom for advertisers and agencies to convince consumers for making purchase decisions.

Lalatendu Das, CEO, Performics India, Publicis India-owned performance marketing agency, highlights that while reach of audio advertising has grown to a sizeable number (approximately 200 million in India), the advertising spend on audio as a channel remains muted. “Based on our experience, audio gets less than 10 percent share of advertising spend for most of our clients,” he notes.

Das shares that currently there are two kinds of advertisers that are actively leveraging programmatic audio advertising

- Value seekers: CMP (cost per thousand impressions) on audio advertising remains quite attractive (40-50 percent lower than for video). Hence advertisers who have already attained good reach on traditional web, video, etc., are exploring audio as an alternate channel.

- The second category is when an advertisers wishes to promote niche product and placements – newer products – especially with a short shelf-life (such as an upcoming event, sale).

<strong>Variety of ad formats</strong>

Experts said that audio publishers and streaming platforms offer a variety of ad formats including display, short audio and video ads.

“Shorted audio ads up to 15 seconds on music streaming platforms like Gaana, Saavan, YT have worked for us in the past,” shares Performics India’s Das.

Swedish audio streaming platform Spotify, which entered India in February 2019, offers audio, video, display and proprietary tech which only shows ads when the user is using the screen.

“Our multi-format campaigns drive 40 percent more lift in various brand metrics as compared to just audio ads and that’s what we recommend to our advertiser partners,” says Arjun Kolady, head of sales – Spotify India.

Kolady clarifies that ads on Spotify are served to users based on their state and inputs. “…so if someone’s running using Spotify, they will only be served audio ads because they are not looking at the screen. We have upwards of 90 percent of completion rates across all our formats including audio and video. From the attention point of view, audio has the highest scale and has most moments that one can reach the consumer on but the visual formats drive more action,” he adds.

Mondelez India, for instance, has worked with Spotify. Anil Viswanathan, vice president – marketing, Mondelez India, states that within the company, audio has remained an integral part of the Cadbury Dairy Milk Silk campaigns with the product having a distinctive audio asset (its ad jingle) associated with it.

“In an effort to go where our consumers are present, for this year's Valentine's Day campaign, we zeroed in on music as a genre to leverage, and in association with Spotify, we created playlists that gave couples a chance to reveal secret messages. With personalisation transitioning from good-to-have to must-have, these audio platforms with their deep tech are able to provide personalisation that is very effective,” says Viswanathan.

<strong>Key challenges</strong>

Due to the abundance of free audio options, just three million people purchased music subscriptions in 2021, producing Rs 1.6 billion in revenue. FICCI report estimates that at best the paid subscription industry will reach 7 million paid users by 2024 at a maximum effective rate of Rs 1 per day, generating Rs 2.8 billion in subscription revenue. This means that audio streaming platforms will largely be advertising driven.

“Smartphone users in India will cross 500 mil shortly, and MAU (monthly active users) on some of the leading audio platforms are on the rise. However there are still challenges around tracking, effectiveness measurement and attribution when it comes to audio advertising. The space can unlock newer capabilities if the audio platform providers can innovate to solve these problems,” he concludes.

<strong>Note to readers:</strong> <em>Storyboard18’s new Month In Focus initiative spotlights themes and topics that are pushing marketers to reshape and rethink how brands interact with today’s customers. Our theme for this month is Stacks &amp; Strategies, a martech and adtech spotlight on how decision makers and marketers are advancing the adoption of new technologies and tech-driven strategies in the brand marketing ecosystem. From the defining trends and preparing for a cookiepocalypse to how progressive martech strategies help fast track business and brand growth. Catch this special on Storyboard18.</em>

Watch Listen

Piyush Pandey and Devika Bulchandani on all things new at Ogilvy India

More from Storyboard18

Watch Listen

Bombay is the global Mecca of advertising: GCPL's Sudhir Sitapati

Watch Listen

India's ad spending soars by 15.5 percent! Exclusive with MIB’s Apurva Chandra

Watch Listen

WATCH: The Visionaries - The biggest celebration of the brightest marketing minds in the country

Watch Listen

Dentsu trying to shape the future and not doing what was done in the past: Harsha Razdan

Watch Listen

Can’t stop at one: Emerging models of agency-client partnerships

Watch Listen

Mercedes-Benz’s Santosh Iyer on how the Indian luxury consumer has evolved

Watch Listen

What’s the connection between Washing Powder Nirma, Chopsticks and Mithila Palkar?

Watch Listen

Brand Blitz Quiz: And the winners are...

Watch Listen

Piyush Pandey to join Brand Blitz Quiz’s finale as chief panellist