Indian media advertising market, as per Pitch Madison Media Advertising Outlook 2013, exhibited the lowest growth (5.2 per cent) of the decade in 2012. The performance of all the verticals except digital and print was slow and displayed various new trends that have altered the demographics of the industry all together.
Experiment: The last 10 years saw ad spends grow from strength to strength. While ad spends grew double in the first five years, the next five years did not see as much growth affecting the industry. Such a scenario shows that it is time now advertisers take to a new approach and look at new grounds with an appetite to experiment, said Sam Balsara, Chairman and MD, Madison World, as he revealed the figures for PMMAO 2013.
Exposure with experience: Balsara said that doing more of the same will now be even less effective. Ad spends will double in the next five years and thus, multimedia and synergy of message is very important. The next point that he highlighted for advertisers, was that exposure will need to be augmented with experience. Consumers need to experience the brand before buying it.
Focus on digital: Print plus television lost 10 per cent of its share to digital. Radio, cinema and outdoor also lost almost a combined 10 per cent to digital. Balsara stated that advertisers need to keep these figures in mind and make digital a part of the mainstream media plan and under the same roof.
While digital continues to grow substantially it will not be at the cost of print or digital. Balsara highlighted that television digitisation could lead to an increase in advertising rate. CPT will gain more importance and inter media currency will take a shape.
Value impact: The last and the most important implication that Balsara put forward was that the industry will have to value the importance of impact. Advertisers need to look at not only advertising but also entertaining and educating the consumers.
Pitch Madison Media Advertising Outlook 2013 was presented by ABP News.