Guest Column: Key takeaways from 'Festival of Media Global 2015 in Rome' by Amit Tiwari
Amit Tiwari, Director, Indian Subcontinent-Brand, Communication and Digital, Philips India, shares his experience and views on ‘Festival of Media Global 2015’ that was held in Rome last week.
Rome is an ancient city in Europe with a rich history going back more than two and half thousand years. It is the capital of Italy, the center of many Greek mythologies and birthplace of the far-reaching Roman Empire. On 12 May 2015, as the sun set by the beautiful city of Rome, curtains came down on the three-day knowledge sharing marathon for media professionals from around the world.
The city was host to the ‘Festival of Media Global 2015’ in Rome, a three day conference and exhibition where brands, advertisers, agencies and media owners from top global companies arrived under a single roof to share industry trends and future roadmap for media.
As much fascination as the participants had for the rich history of the ancient city, they were even more fascinated with the outcome of the three-day knowledge sharing sessions and tracks, by top global media gurus & executives.
Some of the key highlights from Festival of Media Global 2015 are:
1. Media agencies are increasingly seen as marketing partners by brands as decisions are mostly derived from communications and data provided by the media. The importance of these communications in marketing has even replaced the traditional 4Ps of marketing with 4Ts, which stands for transparency, technology, trust and talent. So, does this mean media planning is dead? The answer to this is both yes and no.
2. The changing dynamics of how brands interact with consumers and how consumers perceive messages have forced us to reboot, rethink and transform our actions as a media solution provider. It has become imperative to provide direction as part of media agency strategy obtained from data recommendations in order to bridge the gap between the real and digital world. This has led to programmatic becoming the heart of all campaigns that are data driven today. It is the future of marketing towards which all future investments and marketing budgets will be channeled.
3. Programmatic stands for technology and technology is without a doubt will spearhead all future marketing efforts due to its focused targeting, direct approach and laser precision marketing based on metrics backed by technology. The realization of this shift in trend towards technology is global, to the extent that many CTOs and technology companies are associating with media organizations to deliver the required value needed in this front. This has also transformed designations of media professionals at many levels. The traditional media planning, strategizing, buying and selling are not the only functions of media, instead, media companies are expected to provide creative media solutions. Media agencies are the new creative agencies today.
4. Another important outcome of the conference was the realisation that marketing focus should move away from category and towards culture. Traditionally, marketing communications are based on a product category not how the local target market will culturally respond to it. For example, in the southern part of India, clean shaving is not important to men and is not part of daily regime. Therefore, a cultural perspective is the key to marketing than just category based.
Roadmap for Media Agencies:
The media today has entered a complex landscape which has been continuously evolving with time. Consumers have access to a lot of content through multiple devices with too many distractions. There are way too many creative messaging that bombards consumers with marketing content, often wrong messages to the wrong audience. It becomes really important for media agencies to exactly know how to move swiftly and effectively in such environment. In order to standout and succeed tomorrow, the media companies need to keep in mind the following facts or call them parameters to succeed:
- TV continues to dominate to be the largest and widest medium for global advertisers
- Media as a traditional distribution medium has moved to digital to a great extent
- Outdoor billboards have also increasingly moved towards digital
- TV as a medium remains the last of all other mediums to enter programmatic
To sum it up, programmatic is the future and all media companies should take note. The media agencies will more even greater role into the marketing decisions of brands. They will be required to become more creative and leverage data driven communications. TV will continue to remain relevant and dominant of all mediums for advertisers. However, it will eventually be measured through programmatic as well to justify ROI.
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