We want to build a strong creative culture. Delhi is the headquarter of opportunities, while Mumbai is the headquarter of execution of big ideas. To build the perfect balance between the two by syncing the talent pool in Mumbai to opportunities in Delhi is also going to be key focus for us.
Mobile is going to be huge. We will be putting tremendous effort in creating innovative products based on consumer insights. At CES 2013, Marissa has announced ad product offering, mobile products, and two new digital magazines. She also mentioned that there will be a huge thrust in our communication products such as Yahoo Mail. These are all global offerings. We are all set for phenomenal growth.
Everything that I see suggests that brands operating in India are aware that a large part of their audience spends most of their time online today and are trying to engage with them. The only thing that may be holding back some brands is the amount of money they are willing to spend on social media engagement and activation as compared to digital advertising. But Indian marketeers are smart – they operate in a tough environment and are perhaps the fastest movers in the world.
The news channels (in India) are very lively and sensational, but don’t have the depth of coverage, something like what the BBC would offer. It’s also interesting to ask people in India how interested they are in international news. Do they want to have a broader knowledge about what’s happening in the world? Indian news channels don’t spend time looking at happenings outside India.
We started with the ‘3C’ approach, where the first ‘C’ represented creation of new product and additional capacities… The second ‘C’ represents connect with the masses. We went into an aggressive expansion mode not only in the urban areas, but also in the rural areas… The third ‘C’ is communication. We translated our global slogan, ‘The power of dreams’, into ‘Sach kar denge sapne’. The tone and manner of communication in the print ads was regionalised not only in terms of language, but also in terms of the look-and-feel.
Last year, the contribution of digital to overall SMG revenues in India was in excess of 40 per cent, we have made a huge amount of push on the revenue and capability front. We have invested substantially both on search, both organic and paid. Some of the investments of the network are beginning to pay off.
My feeling is that once the general elections are over in 2014, whichever way people decide, there will be a bit of a peak in the economy and marketing plans for all clients, there will be a promise of five years of stability. Our focus area will be to capitalise on the renewed surge of energy in the product and services market.
Nike as a brand does associate with several sports stars, but it’s only to build aspiration and by associating with them, the brand becomes known for excellence common among these players. We believe in innovation and inspiration, both are key virtues shared by Nike and sporting excellence.
Approximately 10 million consumer homes are consuming content electronically; despite this, the imaging part is still very traditional. There is a need for printers to be smart as well. In fact, almost 30 per cent of our printer market can move to cloud printing since consumers are now storing their vital information on online services.
Our body language has changed, India has really benefitted from being a signed up member of a network, we can see that in the P&L, in the types and calibre of people that we are hiring. We can see that in the work we are doing now, and it is only a year right now, we are planting the right seeds now for a longer term play.
You still see resentment among some TV news channels that the internet has come and wrecked their business model. Print in some parts of Europe and America is having a very tough time coming to terms with the internet. Mobile consumption has seen a rapid uptake, however, advertising monies have been quite slow to move to mobile.
I think marketing needs to be meaningful. We are spending a very important and considerable amount here in India, but it needs to be meaningful, which means it needs to be in line with what you want to achieve with your marketing strategy, because you can also spend a lot of dollars and yet that could be useless... The driving factor for Rado in the past 55 years and in the coming 55 years was and will be innovation. The day we stop innovating, we will probably kill the brand.
Roughly 20 per cent of our revenues globally come from digital, which didn’t exist just three years ago. It’s not just about digital – that is the whole engagement play, which is why we now call ourselves an ‘engagement agency’, because so much of what we are doing now is really strategic content. Most of our clients have woken to the fact that they already produce such an incredible amount of content that they factor to become publishers. The serious dollar now is in helping companies to effectively become publishers of their own material across multiple platforms and engaging with the audiences directly.
Our strategy has been to provide and communicate enhanced value equation to the consumer. As long as I can touch the consumer’s heart and say I am providing you far better value than any other brand, my growth is happening. Our marketing strategy is to constantly bring out products and concepts that enhance value by giving good quality products at a value pricing methodology.
While we are seeing strong growth in urban areas, we are also seeing very strong growth in semi-urban and rural areas. As more and more of India gets electrified, clearly there are lot more opportunities for lighting going forward... Currently, our share in the LED space exceeds 46 per cent.
Clients expect the team to concentrate on their job, which is to sell more products. If you want your agency to be interested in your sales, you have to pay your agency to be interested in the sales, which is why with Tata Motors we get paid commensurate with how many sales they get. We follow the pay-for-performance model, linking compensation directly to client growth. It’s a simple rule that we follow and I think this is how the clients should behave. The client should not pay by commission or fees, but they should pay by sales.
Great interpretation of good data is also specialised artistry at real cost. The industry is in danger of pricing itself out of creativity if its benchmark is only cost – the advertising world of the future is badly in need of ‘Ideas’, which will not only come from crowdsourcing. And in this department, as we’ve seen through the history of business, a truly passionate start-up can give any WPP/ Publicis Onmicom a run for their money, scoring as creative maverick business people.
We are making big strides in analytics. We are going beyond our competition and using analytics to understand the most efficient channels and the most effective vehicles. We are going beyond that to see how we can evaluate from a quantitative perspective content opportunities for certain genres of television and certain insights around our audiences that we can leverage back into our target insights so we can literally feel becoming better at targeting by knowing what’s working.