Media, advertising and journalism institute Futuristix Media Communication Centre (FMCC), and Cross Border Media (CBM) had organised a conference on ‘Monetising your new media platforms’ in the Capital on November 29. The daylong conference was attended by stalwarts from various industries who had direct or indirect association with digital media.
The conference kickstarted with a keynote from Jason Pontin, Editor-in-Chief and Publisher of ‘Technology Review’, which is produced by Massachusetts Institute of Technology (MIT). Speaking on ‘New media technology and the media’, Pontin pointed that with the introduction of new media that enabled direct marketing, the advertising platform had been diversified into mobile advertising through SMS, Internet advertising, and other technology services.
Dilip Venkatraman, Director-Marketing, CNN-IBN, then had a tête-à-tête with Pontin, where they discussed about vernacular media and social networking sites. Talking about his India experience, Pontin said, “This is the 12th year I am in this country and I am happy to see a change in the entrepreneurial skills and innovative ideas, as the country is being identified as world players. India has enormous capital venture and government support today.”
Pontin said that vernacular newspapers were the tip of the emerging new media iceberg, as the vernacular culture would be explored extensively by mobile technology to reach a wider audience. He added that people were strategically using social networking sites to advertise products as the sites provided privacy, non-intrusion and direct marketing. “Because people visit these sites about 20 to 30 times a day to get socially connected, this acts as a good opportunity to advertise your product, although this is eating into print advertisements and classified sections.”
The next session on successful media strategy had speakers discuss on ‘Vision for distributing content on the Web and other digital platforms, and successful strategies employed for monetisation’. The session was moderated by Mohit Hira, Director, Times Internet Ltd, and the speakers were Rahul Gupta, MD and CEO, LeagueOne Marketing Services Ltd; Anurag Batra, MD and Editor-in-Chief, exchange4media Group; and Pradeep Gupta, Chairman, Cyber Media. The speakers were of the opinion that although a person spent at least an hour on the Internet, it was essential that cross media be used.
Talking on contextual marketing, Batra said that advertisers were surely making use of the digital platform to promote their products, but strategies were needed to successfully monetise the emerging platform.
According to Gupta, “The consumer will not pay for the commodity if he is not able to touch and feel what he is consuming through the Internet. In such a situation, our strategy should be ‘CINH’ – the consumer should be made ‘curious’ enough to indulge in trying the product; we measure his ‘impulse’ so that it converts into his ‘needs’, and finally ends up in being his ‘habit’. For this, it is very important to educate consumers to make them loyal to the brand.”