At the 16th edition of exchange4media Conclave 2016 in Mumbai, Umang Bedi, Managing Director, India & South Asia, Facebook spoke on the topic ‘Digital disruption is just the beginning’. He shared some great insights about the new age digital media.
The first trend highlighted by Bedi was that new-age start-ups come in at the bottom of the pyramid, but then they innovate so fast that their products become so high quality, that ultimately they become the leader. It is because of brands like Ola and Uber that General Motors had to invest $500 million in Lyft (provides self driving cars with ride sharing service) – this is exactly what disruptive innovation is all about. “Slowly we are seeing that the largest companies by market cap like the oil barons are getting replaced with the kids from the Silicon Valley. So the lessons leant by me here is stay humble and be super paranoid about why you exist,” he said.
Bedi elaborated, “We are now living in a mobile era and some of the fun facts about it are there are more mobile phones in the world than toilets or toothbrushes. According to a data, 80 per cent of all the online content will be digital video by 2020. As of now, 87 per cent of Indians watch videos at least once a week. Live videos are getting to be more raw and disruptive.” He broke down how many of us have experienced the Internet ever since the time it came in the country - (text- photos- videos- Virtual/Augmented reality (VR/AR). Consumers are therefore, going to enjoy brands all through VR now. The Holy Grail is to build advertising that is personalised, relevant and meaningful.
He further cited, “On mobile, we look for byte size information, communication is usually immediate, expressive and immersive. Disruptors combine emotions and technology to build a brand. They create to convert, personalise creativity, break silos, experiment and learn. Use of captivating elements and great visuals are done to create an early identity. Therefore, great advertising always starts with a great creative.”
The e4m Conclave is presented by Dainik Jagran and powered by Zee Entertainment.