ISA CEO Conference: Industry experts talk about new growth avenues in interconnected world
OTT and streaming tech firms disrupting traditional media & entertainment models, says session moderator Abraham Alapatt - President, Group Head-Marketing, Thomas Cook & ISA Executive Council Member
The second edition of the ISA CEO Conference saw a panel discussion on New Risks, New Rewards - New Avenues for Growth and Value Creation in an Interconnected World.
The session was moderated by Abraham Alapatt - President and Group Head-Marketing, Thomas Cook and ISA Executive Council Member. The panel members were Prasun Basu - President South Asia, Nielsen Holdings; Sandeep Bhushan - Director and Head Global Marketing Solutions India, Facebook; Sameer Singh - CEO South Asia, Group M; and Virginia Sharma - Director, Marketing Solutions, LinkedIn.
In the introductory speech, Alapatt said: “There are two contrasting sides to understand this interconnected world. According to a study, in 1958 S&P corporations listed had an average stay of 61 years on the list. By 1980, numbers declined to 25 years. In 2011, the average tenure dropped to 18 years and they say at the current churn rate, about 50 per cent of S&P 500 companies will be replaced by 2027.”
“Research also shows that since 2000, 52 per cent companies of Fortune 500 have either gone bankrupt, been acquired or seized to exist as a result of disruption. The coalition of physical and digital world has affected every dimension of the society, enterprise and individuals. Communities on the social platform are disrupting traditional marketing models. OTT and streaming tech companies are disrupting traditional media and entertainment models,” Alapatt added.
Speaking about the business operations in a B2B context, Virginia Sharma said, “The biggest change I am seeing as risk and opportunity is around the sales and marketing alignment in a B2B organisation. When I started my career, relationship selling was pre-dominantly the main way the seller would get business.”
“The world of a sales person has completely changed. So what may have made them successful in the past doesn’t work anymore.”
On internet players, Sandeep Bhushan said: “In the Facebook family of applications, we connect two-and-half billion people as we speak. If we take the whole set of internet eco-system players - all the way from WhatsApp to e-commerce players - the scale is tremendous. It blurs the boundary between countries and societies. Therefore, we draw an arch on something we call communities and that is an absolute game changer.”
Prasun Basu talked about the aspiration among consumers. “The risks and rewards are not different. Calling out the key ones, the first thing is the concept of a knowledgeable consumer, that’s a risk and reward. The consumer today knows a lot more than he or she knew 5 years back. Because of the amount of information they have, there is a huge aspiration that consumers have today.
Sharing more insights on the topic, Sameer Singh said: “The world has got fractured between online and offline media consumption. There is new requirement challenge and opportunity that is coming up which is doing online-realtime-omni-channel analytics.”
“Today, it is not about the data owner, it is all about who can make sense of data,” Singh added.
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