Big brands need to spend 70% of total budget on TV: Shivam Puri
Shivam Puri, CEO, Cipla Health, says TV ads give brands a ‘Bang for the Buck’
The e4m-TV First Conference 2020 had an illustrative keynote session by Shivam Puri, CEO at Cipla Health, on how “TV Ads are giving brands a Bang for the Buck”. Puri kick started his session by saying, “Return on marketing investment is like a footnote”.
According to Puri, “Marketing budget is not the best use of money for companies.” There are multiple level costings that are involved which includes peoples and resources, promotions and distribution and the A&P money. The CEO reminded that return on marketing investments is a must.
He defined business objectives as needs to deliver “physical reach” and “mental reach”. Profitably and marketers’ objective is to deliver “mental reach” profitably.
Puri said that “the most reliable driver of volume growth is penetration” and communication actually needs to work with low-frequency shoppers as these customers are the business growth drivers.
Hence, the most important task for media is to deliver maximum unduplicated reach at the lowest cost. “Big brands need to spend 70% of their total budget on TV and if Amazon is doing it already, it’s a good thing,” said the CEO.
Puri further said the amount of emotional content available on television is huge. “Almost 60% consumers say most emotional advertising happens on TV.” Speaking about millennials, he added, “When it comes to millennials, one third eyeballs still belong to TV. The watch hours are still 3 to 4 hours.”
He concluded his session by throwing light on the fact that TV continues to be at the centre of the aggressive journey going forward.
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