While mediums like television and print have seen cost cutting in terms of lay-offs and salary cuts, and radio has also gone slow on hiring with no increments this year, digital players, too, have been impacted by the slowdown. exchange4media finds out how this sector is coping with the slowdown effects. The story here is not as anxious as in the other mediums, with not just high growths, but also a relatively high rate of new recruitments.
mKhoj, a mobile advertising marketplace, now has an employee strength of nearly 70. While the company has not slowed down its hiring, it has had to resort to handing out no increments this year, nevertheless the company has provided bonus to some of its employees.
Online vertical ad network Networkplay.in is very optimistic about both the organisation and the digital industry. Networkplay.in, which currently has around 20 employees in its fold, claims to be aggressively hiring new people and is cash positive.
Naveen Tewari, CEO and Founder of mKhoj, said, “There is certainly a lot of positive aspects to the current economic slowdown, for example, marketers or the company itself has become far more accountable for the ad spend they do, and when these advertisers become more accountable, they tend to move towards a medium which is measurable and thus, digital medium becomes more superior when it comes to measurability or accountability, with a lot of insight, analytics, etc.”
“Our revenue is growing and we are still hiring a lot of people. For us, this is still the best period to show us the value of the medium, so we have become more aggressive than what we were otherwise. As far as mobile is concerned, brands come in because we provide accountability, and mobile provides a reach that no other medium can or may find it difficult to provide, along with a lot of interactivity, and this is becoming clearer to brands and advertisers,” he added.
According to Rammohan Sundaram, Founder and Managing Director, NetworkPlay.in, “You got to have to work with what you have and ensure that it is innovative for advertisers. Digital will play an important role in this entire slowdown scenario. Above all, this medium provides a lot of innovative ways of reaching out to your consumers. In fact, we are on a roll and we are going to surpass all the target numbers that we have set before us.”
The need of the hour is to innovate and reach out to a relevant audience in minimum time, which the ROI-based digital medium already boasts of providing.