Content creation to be made easier with ICM for media: Abhisekh Kumar, Happiest Minds
The IT company's content solution has shown great results in research & analysis sector according to their Associate Director
With technology running miles ahead in every space, IT company Happiest Minds, based out of Bengaluru, have built a solution to help make content creation easier with Innovative Content Monetization (ICM.) More details about this product, its benefits and offerings were given by Abhisekh Kumar, Associate Director – Digital Transformation & Enterprise Solutions, Happiest Minds.
What is ICM?
Happiest Minds Innovative Content Monetization (ICM) powered by mCaaS can be the answer to a critical business problem. ICM powered by cognitive computing and AI, tracks and tags data flowing in and out of multichannel sources within an enterprise such as web portals, socials networks and cloud applications and helps in orchestrating the content. It enables the enterprise to gather Intel on data flow volumes and get insight on the consumers for more content recommendations, guided sales and current market demands. It is a platform for interactive Content consumption based on personalized needs.
How will this product help a media firm?
We help in engaging and getting leads on consumers who are willing to buy original digital content by enriching and curating content through brokering various kinds of relevant and contextual content across different sources – public or private, based on personalized needs, providing value and thereby driving premium pricing. Once engaged and hooked to the summarized content, the audience will be willing to move to higher price point items such as online reports, subscription or membership. Content producing firms like research companies should be able to leverage their subject matter expertise and thought leadership through efficient content monetization.
In simple terms, we help in monetising an article written 20 years ago. Right now, I might take about 48 hours to write an article of about four pages. But with the help of ICM, I can do the same in about 10 hours. This solution will help in adding relevant video, image, graph, text from a report in the archives which is relevant for this report.
What sort of association do you have with the OTT players and other digital platforms?
We help in customizing the advertisements according to the viewer of the site. We observe the consumer’s online behaviour and then using our algorithms and technology, place relevant ads on their site.
Is this being done by other digital and adtech players? Is ICM your only differentiator here?
We have seen the ICM being a very unique solution in the research and analysis industries. There are players in this space but we haven’t witnessed someone who can provide truly personalised advertisements. They have been personalising the content. If I click on a Motorola phone advertisement then it isn’t necessary that I will be shown a Motorola phone advertisement the next day when I pull out the news. That is a wide space now. I think we are very well positioned even in that area.
Which sector has been using this product to a large extent compared to the others?
The biggest success rate for this has been research & analysis firms. This has helped them increase customers by 12 per cent, revenue by 20 per cent, sales by 30 per cent, 15 per cent increase in renewal of customers, increase cross sell & up sell by 10 per cent and 20 per cent aided sell monetization of core content. The next big wave we are anticipating is with the media and the publication houses.
What are your plans ahead with this solution?
As we speak right now, the product is being revamped. We are bringing collaborative content creation on this platform. This solution will act as a one stop shop for anything and everything a content creating platform should do like content creation, editing, co-editing, reviewing and publishing and to the point where it goes till the consumer. Apart from this, we also plan to make this product usable in event management as well.
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