exchange4media’s digital marketing awards, the Indian Digital Marketing Awards (IDMA) 2016, will be held on June 17 at St Regis, Mumbai.
The objective of IDMA is to recognize, celebrate and encourage the work being done in the ever-growing advertising and marketing communications domain in the digital media space, specifically, internet, mobile, gaming, social media and the blogosphere.
Digital marketing is a vibrant and growing ecosystem in India. According to eMarketer, by 2019, more than a quarter of ad spending in India will be digital. A report released by Group M earlier this year also says that ad spending in India will grow at 15.5 per cent this year, mainly on the back of strong investments in digital marketing, which will account for 12.7 per cent of all ad spending in 2016, up from 9.9 per cent in 2015.
New concepts like Internet of Things (IoT), virtual reality, augmented reality etc., will further drive this digital explosion and provide brands with new ways of carrying out campaigns.
We spoke to members of the IDMA 2016 jury, both online and main, to get their thoughts on what IoT means in the Indian context.
“IoT is expected to connect 28 billion “things” to the internet by 2020 globally and over 2.7 billion is predicted to be India’s share. Considering the importance of this phenomenon, IoT already has a prominent position in the ‘Digital India’ program, vision is to create IoT industry of $15 billion by 2020 in India,” opined IDMA Jury Member, Jack Uppal, Vice President (Marketing and Customer Experience) at GM India.
Suparna Mitra, CMO at Titan Industries, also agreed that having connected devices will open up new avenues for marketers and brands. “IOT will only increase digital marketing as many new media or moments will get introduced in the consumer's life. Imagine a digital refrigerator or a car dashboard being a media vehicle,” she told us.
Suveer Bajaj, Co-founder at FoxyMoron, who was part of the online jury, pointed out that concepts like IoT will increase the data points that marketers collect and hence advertising and marketing will be a lot more targeted and a lot more defined. “Accuracy will improve and therefore frequency may decrease. But the result will be the increase in marketing RoI, which will make advertising and marketing a whole lot more efficient than it is today,” he said.
However, another jury member, Lakshmi Goyal, Head of Brand & Marketing at Standard Chartered India, also cautions that it still remains to be seen whether IoT will attract regulations.
“The IoT is opening up new screens, methods and data for advertising, but how much is the consumer willing or ready to consume is something that only time will tell. However, as marketers we need to be ready to engage with the consumer on a platform where it will be convenient and relevant to them,” said Goyal.