MediAvataar's News Desk

MediAvataar's News Desk

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Tuesday, 07 August 2018 00:00

The New Value Of Social Data

Modern times call for a modern approach. Discover how social media’s rapid  evolution impacts our everyday lives.

I’m going to make a bold statement: It feels like media agencies are in a battle, standing on the front lines of the media and ad-technology trenches. In fact, it feels like agencies are fighting a war of attrition. I think that, many times, quality and client trust are the casualties.

Both end users and Wall Street have shown dwindling interest—and investment—in key online media companies, including the big players, Facebook and Twitter. And Facebook’s recent underwhelming quarterly earnings report, along with a resulting 20% dip in its stock price, didn’t help matters any.

I’m not trying to declare an industry doomsday. Actually, quite the contrary. Yes, we battle static attitudes and shrinking investments in media. The ad industry, however, is ripe for disruption; it’s prime for a radical, new way of thinking. Havas Media’s new exploration of Meaningful Media is a response to this changing landscape.

We know that cheap impressions have little value and that not all impressions are equal. However, agencies and brands begin to exent impact when meaningfulness is at the center of their media strategy, planning, and buying. As a team, a company, and an industry, our mission is to reshape how we plan and buy media in a way that balances impact, performance, and meaning.

Social media is, obviously, overflowing with meaningful data directly from people. Users who share their thoughts, conversations, and pictures. So social media is naturally positioned to deliver more than its share of meaningful data.

We are on an evolutionary journey. With the recent advancements of super computers and artificial intelligence, we’ve gained the ability to measure previously unavailable metrics, such as brand and conversation alignment. And our evolved approach began with a multi-dimensional measure of success that spans quality, scale, and efficiency metrics.

Listening in on the unique signals received from social-media data, we’ve begun to evaluate the alignment between the POV of the audience, content, and the overall values and ethos of a brand. And with conversation signals from platforms like Twitter, we’ve begun to measure the impact of large tentpole media activations.

We don’t want to be limited to social listening tools that focus solely on conversation scale and sentiment analysis. So we use an approach that emotional drivers that define a conversation’s psychological profile, and how that conversation aligns to the type of conversation the brand hopes people are having.

In this media evolution, the definition of great work has shifted from the cheapest or biggest campaigns, to work that impacts how people think and behave. Not only do we want to help our clients gain more value from the work that we do together, but we also hope to shift thinking in the industry.

 

Written by By Noah King at Havas meaningfulmedia

Eros International PLC (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that following customary approval processes, the sale of a 5% stake in Eros to Reliance Industries Limited (“Reliance”), previously announced on February 20, 2018, has been completed.

Reliance has acquired 3,111,088 newly issued A ordinary shares from Eros which represents 5.0% of Eros’ current issued and outstanding ordinary share capital on a pro forma basis. The purchase price was $15.00 per share, which represents a total cash consideration of $46.6 million.

Goldman Sachs & Co. LLC acted as exclusive financial advisor to Eros International Plc in this transaction.

Investment on the up as global marketers bank on a data dividend

Marketing spend is expected to increase across most markets and industry verticals—technology CMOs are mostly likely to be increasing their budgets; food & beverage and automotive CMOs are most likely to be cutting their budgets

• While short term budgets are generally increasing, securing long-term investment is the biggest challenge facing CMOs in the delivery of their strategy

• Within that context, using data to target real people is the #1 strategic opportunity for CMOs—but a data breach is also the #1 risk

• 60% believe that GDPR will make it harder to build a direct relationship with the consumer. A similar proportion (61%) say that while more data is available, it is harder to extract insight

• Innovation ranks bottom in terms of being identified as key marketing role—putting the ability to meet the demands of the digital economy at risk

A major, global survey of 1,000 CMOs and senior-level marketers across ten countries has revealed that marketing investment is on an upward curve, as marketing’s role as the primary ‘growth antennae’ for organisations is strengthened by the use of data. CMOs are in a unique position to turn consumer insight into the next commercial opportunity and new sources of revenue.

Dentsu Aegis Network’s ‘CMO Survey 2018’, found that six in ten marketers expect marketing budgets to rise in the next twelve months. But it’s budget increases among larger corporates that stand out, with 43% of respondents planning for increases of 5% or more and just one in twenty expecting to see budgets fall. Confidence is highest among technology, automotive and financial services CMOs.
However, the survey also suggests CMOs are facing significant challenges as they attempt to balance the opportunity to build new capabilities and enhance their role, with the risks and challenges driven by data and the digital economy.

Opportunities in data tempered with caution

The evolution of marketing data towards real people, building on digital proxies and broad customer segment data, is identified as the number one strategic opportunity for CMOs over the next 2-3 years, with 80% of CMOs also recognising its importance to effective customer engagement.

However, the findings also reveal a substantial degree of caution. Suffering a data breach is now the leading strategic risk identified, while a high proportion of respondents (60%) believe that data protection legislation such as GDPR will make it harder to build direct relationships with consumers.

Digital commerce shaping how marketers approach partners and suppliers

Investment is expected to rise, but the survey reveals changing priorities, reflecting the increased focus on data as an enabler of growth. Investment in digital media, in-housing of marketing capability and a growing role for specialists are all high on the investment agenda.

Innovation being over-looked?

Just over one-third of CMOs identify “leading disruptive innovation“ as one of their core functional priorities. US CMOs are significantly more focussed on innovation (46%) while CMOs in the UK are well adrift of the international average (25%).

Nigel Morris, Chief Strategy and Innovation Officer at Dentsu Aegis Network said:

“There’s a clear shift, as senior marketers adapt to a digital economy characterised by customer-led demand, near perfect competition and where competitive advantage rests in how well you know your customers. CMO perspectives are moving away from short-term investment in tech, apps and platforms towards what really matters – digital transformation that orientates the whole business around customers.

“Data is central to creating deeper customer relationships and understanding and the most successful marketers have recognised that the key to strategic business growth is in their hands. This has the potential to transform marketing’s role as the architect of a business’s long-term vision.

Conclusions

That the digital economy is disrupting marketing is self-evident. But it is the depth of that disruption that many risk under-estimating. The digital economy is not just about digitising products and services. It is fundamentally changing the economic context in which brands operate— eroding barriers to entry, collapsing information asymmetries, stoking competition and putting the consumer firmly in control.

The transition to this demand-led economy is happening at such pace that many brands are struggling to keep up. This does not mean that brands don’t matter—far from it. They matter now more than ever before. It’s just that the way they will win in the future is very different from today.

Our survey paints a picture of a cadre of CMOs who are not just resilient, but also creative, confident and, in some cases, bullish about the future of marketing. The good news is that the key elements of future-proof marketing are emerging. Creating perfect moments where experience and transaction combine, all in real time and at the behest of the consumer. The bad news is that there remains a number of hurdles to overcome. Not enough CMOs see disruptive innovation as a core element of their role. Data protection regulation is seen as a barrier to building better consumer relationships, rather than a lever that can help engender trust. And securing long term investment remains a critical barrier for CMOs’ plans as they find themselves under pressure to deliver short-term returns.

Future success lies in creating perfect moments that short-cut the traditional marketing funnel. This means constantly realigning business and operating models around changing consumer needs, reinventing marketing as a driver of innovation. It means building new capability and marshalling a wider marketing ecosystem. And it means combining overcoming perceived trade-offs between the short and long term, or the tactical and the strategic.

A complex future demands an integrated marketing machine that works in harmony. Marketing isn’t dead, as some doomsayers have declared. But it will work differently in the future. Understanding how and evolving in response is essential if brands are to win in a digital economy.

Ten questions for CMOs

1.Am I leading disruptive innovation across the business, not just within the marketing function?

2.Do I have the right configuration across the marketing ecosystem to maximise the value of in-house and external capability?

3.Do I have sufficient capability to extract game-changing insight from increasing volumes of consumer data?

4.Are we set up so that every appropriate consumer touchpoint can result in a transaction?

5. Am I using authentic brand purpose as a driver of increased consumer engagement?

6.Am I leading a process of constant business transformation around the consumer?

7.Am I measuring a combination of long-term brand health and short-term business growth?

8. How do I use our consumer data to increase the impact of creative experiences?

9.Am I using media as a tool of strategic planning, in addition to increased sales/reach?

10.How do I decide which emerging digital technologies will drive meaningful consumer engagement?

A new YouGov study reveals around a third of Indians take a vacation every year

Despite the bad exchange rates, people are still looking forward to a holiday. Married people travel more than singles with 39% of them taking a vacation at least once a year compared to singles who mostly travel less than once a year with a limited budget.

The mountain vs. beach dispute is finally settled with 64% of the respondents saying they prefer hills & mountains over beaches. A well planned getaway rejuvenates your senses and helps you become the best version of yourself. According to our survey, almost a quarter (25%) of the respondents prefer adventurous holidays, followed by spiritual trips, romantic breaks and wildlife safaris.

Indians tend to be planned travellers with 80% preferring some kind of plan or itinerary though 40% like some flexibility in the schedule. 63% like to plan their holidays themselves with only 9% preferring the planned tours from global tour operators.

And once there, Indians tend to be really active travellers with 79% seeking to explore all that the destination offers and only 20% wanting to use the holiday to relax or chill out.

Men travel more than women in a year with 28% of them travelling twice a year. While men like to go with a planned itinerary, women like having one too but are willing to explore the place outside the schedule.

Money is an important factor in deciding the location and length of the stay. Most Indians prefer budget holidays within INR 50,000, especially the singles, lasting up to a week.

A sizeable number of married people in this group chose popular tourist destinations over off-beat ones, but 42% singles prefer going for unconventional picks over the usual ones.

Influences driving travel decisions

Close to two-third vacationers are driven by famous sites and history when selecting where to travel next.

Indians love entertainment and there is no surprise that 41% believe the influence of Films & TV and social media inspires them to go on a holiday. No wonder we see countries welcoming Bollywood with open arms.

Europe is by far the most popular holiday destination and preferred continent, closely followed by Asia. One in six Indian travellers voted Switzerland as their ultimate favourite European travel destination, followed by France (42%). However, one-third women travellers fancy a vacation in Italy.

After India, Singapore (46%) is a clear favourite Asian destination for travellers. Malaysia is also a popular choice with 31% holiday lovers wanting to visit the country.

When it comes to the most preferred countries for holiday in North America, U.S.A and Canada are the preferred choices. Although only 2% of travellers want to visit Oceania, most people within this would love to visit Australia.

With the holiday season still on in Europe, maybe it’s time to plan a trip soon.

 

Data collected online by YouGov Omnibus among 1,000 respondents in India in July, 2018 using YouGov’s panel of over 6 million people worldwide. Data is broadly representative of the adult online population in the country.

Sunday, 05 August 2018 00:00

WPP Increases Investments in India

WPP today announced investments in its business in India, in line with its long-term growth objectives in this important market.

As part of this, GroupM, the world’s leading media investment group, will move to full ownership of the mobile marketing agency Madhouse, from its current 50 percent interest. Madhouse has offices in Mumbai, Delhi and Bangalore and its clients include some of India’s leading brands.

Mobile marketing and media consumption is exploding with the growing access to devices, driven by a lower cost of devices and data plans. This acquisition will provide GroupM clients enhanced access to innovative mobile solutions, ad products and targeting technology.

In addition, WPP companies Sudler, Wunderman and Y&R, which now operate as joint venture agencies with Rediffusion, will be developed as wholly-owned agencies, with WPP selling its stakes in the current Rediffusion joint ventures. There will be no change to Wunderman's existing India businesses.

CVL Srinivas, Country Manager for WPP in India, said, “India is a key growth region for us and we have a well-defined road map and vision for what we would like to achieve here. WPP is home to some of the best marketing talent in this country and our plan is to steer our agencies to stay ahead of the curve – in terms of both market and client needs, by providing the best-in-class offerings.”

WPP in India will continue to cater to the market’s growing demand for integrated and innovative marketing solutions, through strengthening its presence in the areas of data, technology, content and creativity.

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