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Digital advertising

Digital advertising to grow to the tune of CAGR 27.7% by 2018

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One of the fastest growing sectors in the country is the media and entertainment arena. It comprises of television, film, and print media advertising, digital and musical among others. Over the past few years, there has been tremendous growth in this segment. Print media advertising and television is reaching a saturation point, although it is far from exhaustion.

The digital media segment is actually one of the rapidly growing segments and it is slowly gaining more ground. The Indian entertainment and media industry has grown by a double digit figure of 11.8 percent overall in 2013. However, gaming and digital advertising has recorded astounding growth rates which are near about 40 percent. A research by KPMG in the past year has stated that digital advertising and media has grown to cover a wider base compared to the previous year. In 2013, digital media advertising notched up 8 percent of the advertising sector, compared to 5 percent in 2012. According to a KPMG-FICCI report, the media and entertainment industry of India enjoys an outreach of 161 million via television and 94,000+ via newspapers. There is however 214 million users of internet in India, of which 130 million people use their cell phones to access the internet. Given these figures, a creative advertising agency has a lot of scope to reach out to a wider audience by tweaking campaigns uniquely to suit the sensibilities of this growing audience.

India’s television advertising pie has been valued at Rs 41,720 crores almost in 2013 and is expect to growth at CAGR (compounded annual growth rate) of 16.2 percent between 2013 and 2018, to amount to Rs 88,500 crores by the end of the period. The estimated size of the Indian advertising market is around USD 5 million, which makes it the 14th largest one in the world, according to the latest issue of Gunn Report. The CAGR of digital advertising is also expected to be around 27.7 percent by the year 2018.

The media and entertainment industry of India shall continue its reliance on digital media. The expanding user base of the internet has the potential to generate vast revenues for the industry. A creative advertising agency must make use of these forecasts for the industry to plan its growth trajectory. From 2013 onwards, telecommunication companies began focusing on data as means of revenue generation. A print media advertising agency and others would have to compete against each other for acquiring digital and social media domains. This certainly spells a bright future for this industry.

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Indian advertising is going global with elan

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India’s advertising industry is in the throes of dominant change in recent times and nowhere is it more visible than television and marketing campaigns themselves. Indian brands are now tapping into international markets and audiences for their products and services. The Micromax advertisement was one of the first campaigns that made use of an international ambassador in the form of global Hollywood celebrity Hugh Jackman and this helped the brand create its own presence and niche in the global market courtesy its tie-up with Jackman and its strategies like free X Men movie content provisions on its smartphones and the release of television commercials and promos for the same.

Other brands like Timex have also roped in ambassadors like fast bowler Brett Lee earlier. Reaching out to international markets is a strategy that has been employed before but only catered to limited markets and Indian consumer sentiment was always kept at the forefront. However, campaigns are now choosing to focus on global perspectives. This is witnessed through concepts like the sharing of happiness promulgated by Coca Cola to the need for every kind of friend which promoted Bharti Telecom.

All successful Indian advertisements have always tapped into unlimited reservoirs of emotion, something that has always worked with the domestic consumer. However, the global shift is visible with the advent of international brand ambassadors or creative and funky ways to get the message across. Brand strategies are changing in accordance with global tastes and consumer behaviour. The changing face of India as a global superpower has a lot to do with this shift in advertising messages and strategies.

Multiple Indian celebrities endorse famed global brands and the trend is being reversed here now. There are advertisements which have hit bulls-eye in a global context as well and this is opening up the floodgates for this new international flavour and feel in Indian advertising. Google Search had huge success with its story of two reunited friends across the Indo-Pak border and Indians lapped it up in spite of Google not being an Indian brand at all. The same strategy is being employed in reverse by Indian brands to create more audiences and newer markets for their products.

In line with this changing trend, advertising agencies are now focusing on getting the message across in innovative ways without turning to emotional triggers as was the call to action theme before!

Media Solution Agency in India

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Billboards are making their presence felt in mainstream advertising

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More and more advertising agencies are choosing to tell their brand stories through billboards which still have no equal when it comes to garnering consumer attention and eyeballs in equal measure! Take the case of the appropriate positioning of movie billboards near places where they were shot, especially those which talk of particular issues related to the areas in question. For top brands, these billboards are all about telling stories and communicating the brand message on a wider canvas to the masses.

As can be seen nowadays, advertisers are making use of big hoardings and billboards to create a commanding presence for products and brands. A whole new process and approach has been born out of the recent restrictions imposed by the Mumbai municipality with regard to conjoining billboards. Billboards have now been confined to specific sizes by the municipality and this rule is being tapped positively for better brand positioning by agencies. Many advertisers are choosing to tell a comprehensive brand story and deliver a message spread throughout two or three billboards placed adjacent to each other. Often, advertisers make use of multiple devices like text and visuals as foils on multiple billboards.

Many brands like Apex Home Appliances, Axe deodorants, Millionaire apparel, Birla Sun Life, Lakme, Poonam Soni’s jewellery brand and many others have made use of hoarding clusters to draw unlimited attention on streets and roadways crowded with billboards and hoardings. Advertisers usually prefer to create a particular hub across multiple hoardings at one particular area, ideally a place where traffic movement is slowed down to the maximum according to industry experts and professionals. Many agencies make use of split billboards nowadays as well where one half conveys the visual message and the other contains the necessary information for the customer.

Outdoor advertising revenues have been hit hard by the global economic depression but experts feel that the sector should bounce back with innovative measures like the ones mentioned above. Alongside, occupancy rates are on the wane for outdoor advertising and this helps advertisers pick up clusters together without any hassles. There are discounts provided on the basis of multiple billboards commissioned owing to the falling rates in today’s times. Billboard advertising is making its presence felt in mainstream strategies of brands and how! There are even brand marketing messages now tailored around them.

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Digital advertising markets are slated to be the next big thing

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Digital advertising is growing at a staggering pace in recent times. The entire industry has been abuzz with the new found relevance and convenience offered by digital platforms. This has caused a steady change in the advertising industry and key players are following suit to jump onto this lucrative bandwagon. As per industry estimates, the market for online advertising in India will cross INR 3, 575 crores and counting by March 2015 and advertising expenditure on mobile and digital platforms is increasing by a whopping 43%! This has set the cat amongst the pigeons in the industry and is supremely indicative of evolved consumer behaviour and preferences.

The overall growth rate of digital advertising is being pegged at 30 percent annually which is staggering by all means. As per industry estimates, the sector was worth around INR 2, 750 crores by March 2014 and this has been seconded by industry reports and statistics published by leading advertising associations and organizations. The biggest contributors to the entire digital advertisement spending pie are display and search which constitute 29 and 38 percent respectively as per reports. This has caused a rethink on strategies usually employed by top advertising and media agencies. Advertising trends are forever in a state of flux, something that is both chaotic and disruptive if not handled right.

Alongside, Search spends came down to about 30 percent soon after for total digital advertising expenditure. Search still provides a whopping INR 825 crores of overall revenue for the market. Alongside, it is being predicted that digital advertising spend will increase on videos, email and mobile advertisements which will eat into Search shares in turn. Social media accounts for about 13% of overall advertising spend digitally and this is growing rapidly to about INR 440 crores in March 2014.

Expenditure on video advertising has grown by a decent 51 percent to touch INR 303 crores while email advertising has now become an INR 88 crore market. This should be growing to the tune of 56% soon and will hold a decent 12% of all digital advertisements put out by brands. The biggest verticals driving the digital advertising boom are e-commerce, FMCG & consumer durables and telecom and this trend is set to continue in the near future.

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Recent trends in the Indian advertising industry and their impact

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Recent trends in the Indian advertising industry and their impact
21st century India has witnessed a gigantic customer revolution. The economy has scaled up to a staggering $2 trillion from a mere $422 billion back in 2001. Per capita incomes are on the rise along with the Gross Domestic Product or GDP. Some consumption segments have managed to hold on to their high billing including mobile phones, subscriptions and also cars. Indian advertising has naturally transformed itself to match the changing needs and demands of the newly emancipated population.

According to advertising experts, the landscape has shifted considerably as compared to the earlier decade and even the last few years. Service oriented sectors have grown as opposed to the slump in the manufacturing and production sector. This has impacted advertising immensely. Services now dominate both the print and television advertising categories and this is one of the biggest trends in the sector in recent times. Television has heralded its dominance over all other media platforms when it comes to advertising. According to industry statistics, television holds the lion’s share of advertising expenditure which is more than 40% while digital media is also rapidly expanding its footprints and will soon move into double digits.

Print media expenditure has gone down considerably and stands at less than the coveted 40% mark as per recent reports and statistics. Television is increasingly being used as a prime advertising platform by nationally acclaimed companies and organizations while print is the marketing weapon of choice for local and regional players. Alongside, advertising has witnessed the interdependence of media platforms where they often work complementary to each other to get the message across. This is another new development which is being tapped by agencies for their campaigns and marketing blueprints.

Soft drink companies still advertise hugely in their bid to outdo each other and this translates into fantastic advertising. Alongside, other duels have emerged between telecommunication companies and mobile phone companies as well. The Samsung and Nokia or Vodafone and Airtel battles are the stuff of modern day advertising legend. The telecom industry has taken up a huge space as far as advertising is concerned. Alongside, FMCG sectors are having a field day when it comes to occupying advertising space and consumer mind spaces. FMCG players are investing heavily in television advertising in recent times while consumer durables sectors are witnessing a quiet exit from the advertising space.

Digital media is slated to be the next big thing in advertising and may soon overtake print as reinforcement to television advertising.

Recent trends in the Indian advertising industry and their impact

What every agency must possess in order to attract big clients

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What every agency must possess in order to attract big clients

Every agency must possess particular attitudes and skills for drawing big business by way of campaigns and projects. Some of these attributes include project management skills, proper goal oriented focus and multi-domain expertise. These attributes are covered extensively below:

Agencies should always possess sound project management skills:
Good project management skills always impress clients exceedingly. Expertise in this area is highly coveted when big ticket companies look for an advertising agency. Sometimes, agencies only concentrate on the design and creative aspects of the job. Companies are left with only an attractive creative template which is a raw deal in itself as execution and implementation aspects remain sorely missing. A clear message and philosophy should be working behind each and every activity of an advertising agency. Agencies should be able to work in collaboration with their clients on a regular basis and delve deep into company vision, mission, objectives and goals while working on campaigns.

The agency should have excellent communication skills and a seasoned team taking care of projects. Client handling is a skill which goes a long way towards keeping relationships fruitful and productive at all times. An agency should be able to draw up a specific timeline with regard to project delivery and the resources required for the same. Campaign management and coordination with the parent company require experienced professionals with a tireless commitment towards success of the same.

Agencies should focus on results that are measurable:
Advertising agencies should endeavor to provide proper benchmarks, metrics, figures, analytics, statistics and objectives with regard to the results of their campaigns and the responses to the same. A proper agency partner will always look to measure and quantify each step in the brand building process.

This helps both companies and agencies stay on track with regard to chalking out the best course of action at all junctures of the project in question. Big ticket clients always look for proper statistics and objectives underlined in reference to the same. Vague representations of targets and results will drive companies away from any agency. This is something that agencies must inculcate into their professional methodologies to earn big business.

Agencies should possess thorough understanding of multiple media platforms:
All good agencies should be able to delineate the expectations and strategies for each separate domain. There should be in-house team leaders and experts for each division, namely television, radio, magazines, newspapers, the Internet and hoardings or billboards.

What every agency must possess in order to attract big clients

 

Importance of online promotion for your business

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Importance of online promotion for your business
Promoting one’s business is one of the main aspects of increasing revenue and volume of sales. Large companies invest a lot of money in the promotion of their brands and products through media such as television, print ad campaigns, radio announcements and online methods. Of all the mass media available today, online promotions seem to be most effective as practically everybody in the age bracket of 6 to 60 accesses the internet today. Moreover, there are various methods through which promotions for a particular product can be done.

If you have a business and are thinking of signing up for a promotion campaign online, don’t hesitate to do so. There are a number of media of promotion that you can capture if you choose to promote your products on the internet. For example, you can capture the attention of people through vlogs and video clippings published on YouTube; grab the opportunity of word of mouth by putting up lucrative deals and products on Facebook, Twitter, Google+, Instagram and much more. Analysts estimate that more than Facebook and Twitter, the medium of promotion in the coming 2-3 years would be Instagram, Google+ and Pinterest. Blogging is also a good way of promoting one’s own products by showcasing their features the way you want your audience to perceive your brand.

You can also optimize your website with search engine optimization techniques through the introduction of keywords and meaningful articles which would attract the attention of people to your field. Many companies publish articles, video seminars and whitepapers online in order to generate interest among people. Promoting your business online would prove to be more effective than signing up for a radio or television campaign. A lot of people have given up listening to the radio or watching television but they have not given up on surfing the internet.

You can always offload the job of promoting your products online to a professional ad agency that would know exactly how to brand your products. The highlights of your goods along with the aspects that are most people friendly would be put forth through ad campaigns released by professional agencies. It would bring in results faster than you doing the promotion all by yourself.

Importance of online promotion for your business

How to go about building your brand?

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Among thousands of products and services available in your domain, standing out may be a daunting task. Getting your own band of loyal followers may not only take time but also a lot of effort. It is no wonder that companies spend thousands of dollars in promoting their brands from time to time and maintaining their public image. The goodwill of a company is very important in bringing in new customers and also retaining the old ones. For example, whenever an Apple product is launched in the market, there is a mad dash to pre-book the item. This has been possible solely because of the brand image that Apple has built for itself.

Building a brand image depends a lot on understanding your customer and audience. Developing a product that a large number of people would require and identify with is the biggest challenge in brand building. Once you have overcome that hurdle, you need to come up with the features or points that would appear most salient to a potential customer. Bringing forth those salient features is a part of brand building. After promoting your products extensively in the market, you need to work towards retaining your customers by offering good aftersales support and service. From time to time, you need to gather feedback from your customers about what they feel about your product, what they think should be introduced or eliminated from your product or what more should you do in order to retain your customers. You would have to then alter and rework your goods according to public consensus.

Therefore, brand building is not only about advertising your products but also building a relationship that would last a lifetime. Having faith in your own goods is the biggest part of selling them. If you seem unsure of your products or services, then your consumers would take the hint and stay away from your products. Be sure of what you are offering and convince people about it. In reaching out to people, promotions would play a key role. Handing over the job of promoting your products to a professional advertising agency would do you a lot of good as they would know exactly how to package your product in order to make it look appealing to a large number of people.

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