After 10 years in the business, Vibgyor Brand Services has adopted new corporate identity and business philosophy that seeks to ‘Involve and Excite’. This new philosophy is based on the input-output principle – to get involved in a brand to create excitement around it.
Elaborating on the new identity, Ankur Kalra, Founder and CEO, Vibgyor told exchange4media, “It has taken more than four months for us to put all the aspects together. From our study we found out that while we have established our perception as a leading player in the activation space, one of the key elements that was missing was ‘playfulness’ and this is the need that has been fulfilled in our current identity.”
The brand activation industry is estimated to be anywhere between Rs 5,000 and Rs 6,000 crore, growing at 15-20 per cent per year. Vibgyor claims to have clocked a growth rate of 25 per cent last year. While refraining from giving Vibgyor’s share in the total brand activation industry, Kalra said, “We can confidently say that we are counted amongst the top five agencies in the country in this field.”
The activation industry thrives on innovation, a strong connect with consumers, measurable results and conversions, and convergence of mediums. He said that spends had grown phenomenally in brand activation over the years and with each passing year there has been an increase of around 20 per cent in the budget.
However, despite the healthy growth rate, the brand activation industry faces several challenges. According to Kalra, these challenges include lack of a tool for measurement such as TAM or RAM to clearly define the success or failure of activation campaigns. Another deterrent is the complicated and lengthy process for securing government permissions to undertake activations in market places / cinema halls / public parks, etc., which forces clients to opt for only malls, which have become extremely high priced. Finding and retaining trained and motivated manpower is also a challenge for this industry.
Kalra remains upbeat about the activation industry’s growth prospects. He said, “The mix between ATL and BTL has been gradually tilting towards our favour over the last decade and this trend is expected to continue in the next few years as well. Marketers have realised that brand activation is one of the most effective ways to reach out to their TG and create conversions and recall. One of the key differences that has happened over the last 10 years is that earlier we were perceived only as logistics experts and asked to execute campaigns designed by the brand or their agency, however, today we are seen as partners to the brand, briefed about the marketing objectives and are expected to come up with innovative solutions in order to achieve them.”
Vibgyor has recently added new clients to its rooster that include brands such as Flipkart.com, ICI Paints (Akzo Nobel), Grohe, Maruti Suzuki, Penguin Books, and KFC, among others.
Speaking on the road ahead, Kalra said, “We believe that we are at a very exciting phase of our journey and hope to achieve an aggressive growth rate from here on. We would be coming out with a new concept in experiential marketing within the next few months, which we feel could be the game changer in this field. We also plan to make certain key appointments at senior levels in Delhi and Mumbai shortly.”