MediAvataar's News Desk
Internet penetration and adoption of digital media in India is growing at an unprecedented rate, which is creating huge opportunities to tap into the unchartered arena of digital space in newer ways.
The ever-evolving digital industry and the advancement of technology opens various opportunities to interact with the audiences. Marketers can now choose innovative ways to reach out to their target audience and cater to the demand to create unforgettable experiences for them.
As of 2018, the Indian advertising market stands at Rs. 61,878 crore ($8.76 billion) and is estimated to grow with a CAGR of 10.62% till 2021 to reach a market size of Rs. 85,250 crore ($12.06 billion).
The digital advertising market size is around Rs. 10,819 crore ($1.3 billion) and the estimated CAGR growth will be 31.96% and the market will expand to Rs. 24,920 crore ($3.52 billion).
Television and print take the largest share of media spends at 70% aggregated followed by digital media at 17%. Digital will contribute 29% of the ad market size by 2021.Digital transformation is being adopted at a substantial scale, which in turn, is increasing the adoption of digital media at a rapid pace.
Currently, BFSI is the biggest spender on digital media with a contribution of 38% of all their marketing budgets. This is followed by consumer durables (36%), e-commerce (34%) and telecom (31%). FMCG spends heavily on the television (63%) and the retail sector spends largely on print (54%) medium of advertising.
The main drivers of the growth of digital media will be voice, vernacular and video. Apart from this, some of the other drivers of digital media growth will be engaging mobile experiences based on augmented reality (AR) and virtual reality (VR).
The advertising expenditure on the digital advertising formats is led by social media (29%) followed by search (25%), display (21%) and video (20%). The BFSI vertical spends the largest share of its digital media budget on search (38%), while FMCG spends the largest share of its digital media budget on video (33%).
Currently, 18% of all digital media is bought programmatically and has grown from 15% last year. The major reason for the growth are technological advancements, improvements in data science & analytics, implementation of algorithm to automate various procedures, better ad fraud detection and improved data policies & regulations. The rapid increase in the penetration of mobile devices and internet has led to 47% of digital media spends on mobile devices and is expected to grow at CAGR of 49% to reach spends share of 67% by 2021.
Machine Learning (ML) and artificial intelligence (AI) will see heavy adoption and implementation in various media in the near future. The main drivers of the growth of digital media will be voice, vernacular and video. Apart from this, some of the other drivers of digital media growth will be engaging mobile experiences based on augmented reality (AR) and virtual reality (VR). In the near future, data-driven decision-making and business strategies will be more transformative and will entail building and merging of different types of business models and its implementation.
Commenting on the report, Ashish Bhasin, Chairman & CEO- South Asia, Dentsu Aegis Network said, “Today, you no longer have to sell ‘digital’ to a client. This is the only medium which gives you a very measurable ROI, and almost an immediate impact. We have about 500 million people on the internet today and in the next three to four years, another 300-400 million people will join in. Concurrently, the next phase of internet users will speak regional languages and as a result, you will probably see a lot more advertising in regional languages on digital in the years to come. Dentsu Aegis Network understands this scope. Consequently, we are over-weight on digital. Of our 3500 people, more than 1600 are in our digital agencies. Nearly 48% of our revenues comes from digital at a time when the market average in India is still 15-17%. As leaders in digital, we recognize the need for an industry level research report which not only covers the market size but also gives a direction towards which this industry is moving. The lack of detailed and accurate Digital Advertising Spends is surprising for a medium that lends itself to measurement. It is to fulfil this gap that all the 8 agencies of the Dentsu Aegis Network i.e. Isobar, iProspect, Merkle Sokrati, WatConsult, Dentsu Webchutney, SVG Media/Columbus, Fractal and Amnet collaborated again for the 3rd edition of our Digital Report that extensively covers Digital trends, spends and insights across all sectors. The report has now become the industry standard for Digital Marketing and this year the report summary will also be available on Alexa.”
A Brain Trust of International Creatives Representing 65 countries from 6 Continents Poised to Select the World’s Best Advertising
New York Festivals International Advertising Awards® announced its world class Grand Jury. To date, NYF’s powerhouse 400+ Grand Jury represents the most diverse brain trust of global creative minds in the advertising industry from 65 countries.
From Argentina to Vietnam, this peer-nominated panel provides a comprehensive view of the advertising world today. This year’s Grand Jury, recruited from top global agencies and the hottest new boutique shops, is comprised of prominent award-winning Chief Creative Officers, Executive Creative Directors, Creative Directors, Art Directors, Copywriters, Executive Producers, and Marketing/PR pro’s all playing a pivotal role in selecting the World’s Best Advertising® winners.
“We’ve assembled a truly international jury with high level talent that spans the globe.” said Susan Glass Ruse, Executive Director of New York Festivals International Advertising Awards. “NYF has always been about recognizing the work and the individuals who create it. Our juries and our competition categories are designed to reflect the diversity of great work and the people that produce it.”
The Grand Jury will be appointed to panels that correspond with our newly revised categories. New panels include Artistry & Craft in Advertising, Collaborations & Partnerships, Social Media & Influencer and Positive World Impact. You can see all the exciting category changes HERE.
“We’re honored to have such an exceptional and eclectic jury judging this year’s work” said Heather Abrams, Associate Executive Director of New York Festivals Advertising Awards. “Not only are we excited to provide our entrants with highly-regarded creatives to honor their work, but we’re delighted for our jury to see some of the fresh and bold ideas that come through in our new categories.”
Using New York Festivals online judging platform, the Grand Jury will review global entries through two rounds of meticulous judging and select the creative work that merits Shortlist and Finalist Status. The Finalist entries will then move on to the medal rounds. NYF’s Grand Jury is also the first line of defense, scrutinizing ads to provide security against possible scam ads.
2019’s trophy winning entries will be determined by the 9th annual Executive Jury, an elite panel of 22+ CCO’s from around the globe. The Executive Jury will gather this April for 5 days in New York City for four rounds of judging across all mediums to select 2019’s winners for First Prize, Second Prize, Third Prize, Grand Awards and Best of Show. The members of the 2019 Executive Jury will be announced soon.
The 2019 competition entry deadline is January 31st
Breaking the pattern of football boot releases through an invite-only app
adidas GLITCH is a new football boot concept and a unique route to market. With a new generation of players to connect with, POSSIBLE set out to disrupt everything.
The answer for launch? A mobile product and experience that was created, designed, and launched by POSSIBLE. The goal was to attract a new audience of street/league players, a cynical inner-city audience that isn’t swayed by celebrity sponsorship and the traditional marketing mix. They’re mobile only, not mobile first, and heavily vested in social media. The GLITCH app was designed to reach young players where they spent most of their time – on their phones, online, on the move.
GLITCH is now live in London, Berlin and Paris. The GLITCH app houses everything in the customer journey from their first interaction with the product, booking and purchasing, to delivery and rewards. The product can ONLY be bought through the app – even today. These boots aren’t available in stores or even online.
At launch in each country, POSSIBLE and adidas deliberately started small and kept it personal. They locked the fitting and purchase functions of the app, making it invite-only. Codes were only available through a small community of influencers and then only available from purchasers of the boots. Our influencers were part of the design of the boots and fed into the concept. Then they led the launch activity, handing out invite codes, uploading content to build community in the app and answering customer questions – online and in the app itself.
GLITCH is now adidas’ second biggest-selling football franchise online behind Predator, a boot that has over two decades’ history and budgets that are well over 10 times those for GLITCH. Achieved without the usual big budgets, big-name online stores, global sales, and without any Premier League football stars, GLITCH turned the industry upside down and created a completely new relationship between brand and consumer.
Gartner Reveals Six Predictions to Guide Marketing Leaders Through Uncertain Times Ahead
Shifting consumer behaviors, mounting regulatory pressures, organizational shifts and disruptive automation combine to pose a real and destabilizing threat to many marketing leaders and their strategies for the years ahead, according to Gartner Inc.
In the report titled, “Predicts 2019: Marketing Seeks a New Equilibrium,” Gartner analysts predict six critical changes that will help guide marketing leaders while navigating this new terrain.
“These are exciting, but uncertain times for CMOs (chief marketing officers) and marketing leaders. From the promise of data and analytics, to the lure of customer experience (CX) and everything in between, marketers have vast opportunities to set themselves apart from the competition, but equal challenges to overcome in order to do so,” said Charles Golvin, senior director and analyst at Gartner. “Finding the right balance to successfully leverage marketing technology and emerging trends will be critical to marketing’s success over the course of the next couple of years.”
Gartner analysts said these predictions will help marketers better understand and prepare for the uncertain times ahead:
By 2022, profitability will replace customer experience as the CMO’s No. 1 strategic priority, reducing investment in marketing-funded CX programs by at least 25 percent.
Brands that put in place user-level control of marketing data will reduce customer churn by 40 percent and increase lifetime value by 25 percent in 2023.
By 2022, content creators will produce more than 30 percent of their digital content with the aid of AI content-generation techniques, increasing productivity and advertising effectiveness but also disrupting the creative process.
By 2023, 60 percent of CMOs will slash the size of their marketing analytics departments by 50 percent because of a failure to realize promised improvements.
By 2023, autonomous marketing systems will issue 55 percent of multichannel marketing messages based on marketer criteria and real-time consumer behavior, resulting in a 25 percent increase in response rates.
By 2023, consumers will watch 20 percent fewer minutes of video advertising per day than they do today. Brands will adapt by embracing short-form video ads.
These predictions grow out of four key forces that are buffeting marketers today:
Behavioral Changes: As voice interfaces continue to improve, consumers are beginning to embrace the convenience. However, concerns about how marketers use this information and where it is all stored continue to mount. Gartner research reveals that 44 percent of consumers would be more willing to use a virtual personal assistant app if they knew that all their personal data would only remain on the device.
Regulatory Pressures: In the wake of consumer advocates shedding light on customer data-powered overreach and missteps, regulatory changes on the use of customer data now threaten to hinder many common marketing practices. The European Union’s General Data Protection Regulation (GDPR) was the first of many more regulations to come.
Organizational Shifts: Marketing leaders are attempting to satiate their appetite for data by hiring new talent that can extract insights from the vast amount of data they have acquired. Meanwhile, while marketing analytics teams continue to inflate, so have investments in CX. Executive scrutiny and expectations in these investment areas is rapidly intensifying.
Disruptive Automation: Now a core functional element of nearly every category of marketing technology, machine intelligence carries the promise of increased efficiency. As automation makes its way into new areas, these changes will have a disruptive impact on what marketers do and how they do it.
Mullen Lintas, today announced the appointment of Vikas Mehta as its CEO. Mullen Lintas is the creative agency of MullenLowe Lintas Group, built on the global network’s philosophy of challenger thinking with offices in Mumbai, Delhi (NCR) and Bengaluru.
He takes on this role from Virat Tandon, who was recently elevated to the position of Group CEO, MullenLowe Lintas Group. Speaking of the choice, Virat says, "Mullen Lintas has very quickly earned the reputation of being a high achieving agency. There couldn’t be a better person than Vikas to lead the agency into its next phase of growth. He brings with him a hunger to build the agency of the future and has the skills needed to do so. His experience as an omni-channel practitioner will give an edge to the solutions that the agency develops. I am sure that under his leadership, Mullen Lintas will only up its challenger game”.
Formed a little over three years ago, Mullen Lintas features amongst the top ten creative agencies in India with some iconic campaigns under its belt. The agency has partnered numerous brands on a client portfolio that includes like Bajaj Auto, Bajaj Corp., Dabur, Fossil, Gionee, Havells, Honda, Modern Foods, Motilal Oswal, Oppo, Pharmeasy, Quikr, SBI Life Insurance, Tata Cliq, Tata Tea, Too Yumm, Viacom 18, Vistara, Vivo and Voonik.
In a career spanning nearly two decades, Vikas has spent over twelve years with the global MullenLowe Group, working in multiple countries across the Asia-Pacific region. Having moved to India in 2013, he has played several roles at MullenLowe Lintas Group including Group CMO, Head of Digital and President – Group Marketing Services. His last assignment was to set up the omni-channel creative agency, PointNine Lintas, which he ran as CEO until its merger with Lowe Lintas, announced last week.
Commenting on the move, Vikas says, “Mullen Lintas has achieved in three years what most agencies would dream of in a decade. Its founding leaders – Amer, Virat and Shriram – have built an agency where the leadership pedigree of Lintas, meets the challenger mindset of MullenLowe Group. It’s a culture of creative excellence, that punches way above its weight. I am delighted at the opportunity to help author the next chapter in the agency’s evolution.”
Speaking on Mehta’s appointment, Amer Jaleel, Group CCO and Chairman, MullenLowe Lintas Group said, “Mullen Lintas is a special agency. Handcrafted over the last 3 years, it needs nurturing and attention of a very different level to take it ahead from here. The agency has been the fastest to make it to the top 10 league in reputation ever and its ambition is to reach the 100-crore club too, faster than any other. In Vikas we found a partner to strengthen our already formidable team. Vikas brings so many colours to this role – he’s been a terrific believer and marketer of our name and fame, he’s shepherded PointNine Lintas back into the fold and he is probably visioning the future better than anyone in the industry. We are supremely fortunate to have him.’
Vikas will operate out of the Mumbai office of Mullen Lintas, and the appointment is effective immediately.