Day 1of Festival of Media opened with Charlie Crowe, CEO, C-Squared Communications, sharing his views on role of media agencies during his opening remarks. Global media agencies are on a crossroad as they have to work as partners in brand building. They also have to save the industry from commoditization from procurement departments and further getting rid from the spiral of cost.
He also shared the changes they have made in the 5th year of the Festival of Media. The notable change is the first time introducing Media Accelerator Programme ( MAP) in the festival. The idea behind this programme is to provide ultimate elevator pitch presentations from those emerging businesses shortlisted in the programme and to select from the vote of audiences the Media Hot company for 2011.There were eleven entries shortlisted this year .Interestingly all were mainly focused on digital and mobile media. The final winner will be announced at the Gala dinner tomorrow.
The central message from both the Key note speakers ( Ben Mezrich, Author , Accidental Billionaires: The Founding of Facebook) and (JY Park, Chairman & Artist , JYP Entertainment) is Localization of global content. In nutshell local for local content. Park elaborates “In today’s era we have enough resources and a healthy balance between technology and finance to create our own cultural focus content .Global content should have local stars.”
This year there are 800 entries from 50 countries , 175 entries shortlisted for the Festival. Final awards to be announced tomorrow at the Grand Award Ceremony.
Summarising day one
Technologies are meaningful only with consumer engagement; All set for day two
Most sessions of the day were focused on technologies related to Digital , Social , Mobile and Application ( Apps) related space. Some of the interesting facts shared during the sessions were really thought provoking.
- Apple is the most valued brand globally with 800 % growth in last 5 yrs.
- US has almost 100% mobile penetration
- Explosion in APPs 22 Billion APPs by 2013.
According to Neil Mohan, (VP Display Advertising Products) with 15 million websites created each month the online space is unlikely to become a less convoluted space to navigate.
The closing session of the day was a new measurement in media and marketing space. The evolution of Neuroscientist or Neuro marketing . “It is primarily the science of unconscious emotional engagement and understand WHY behind WHY ?” as narrated by Dr Carl Marci. Engagement is attention to something that emotionally impacts you. Simply – Impact + Attention = Engagement. Inner scope’s Carl Marchi admitted that the emotional has as much of a say as the scientific as “the brain is hardwired for social engagement”. He also advocates that brain is a context machine and it requires a context for any engagement.
Adding to the same thought Gerhard Louw , (Head of International media management , Deutsche Telekom) Brand positioning is like relationship involve real people / customers to get real results. 68% of Festival of Media delegates believe that engagement represents more of an art than a science. Surely art is using the science.
There is a very famous quote from one of marketing pioneer: “Demographics don’t buy products individual buy products. We may share same age group and gender but our interests and engagements can be different.”
Some Interesting line up for day two : Peter Blackshaw, Global Head of Digital & Social media , Nestle, Michael Donnelly , Group Director , The Coca- Cola Company, Mike Cooper , CEO PHD, Greg Books , Head of content and Strategy C- Squared communications.
(Amit Tiwari is General Manager, Country Head Media at Philips India.)
Guest Article: Philips’ Amit Tiwari @ Festival of Media