MAM
Digital the silver lining amid dark ad clouds
MUMBAI: As the industry braces itself for the impending slowdown, there might actually be a sector that is preparing to manage an increased workflow. Digital marketing is expected to maintain its pace or even speed up this year as advertisers look to scale back spends on expensive mediums like print and hoardings.
Experts say there will be no major deviation from Mindshare‘s early year forecast that digital would grow at 30 per cent in 2012, in the same rate as the earlier year.
Maxus, part of WPP group, agrees that digital will not see any specific slowdown this year. “It should grow at 30-31 per cent from the first part of the year trends,” says Maxus South Asia head of digital Unny Radhakrishnan.
In fact, insurance companies like HDFC are looking at increasing their digital spends this year.
Says HDFC Life EVP marketing and direct channels Sanjay Tripathy, “I only see the spends going up because the
whole media pie has been asymmetric all this while. If you look at the reach frequency formula and compare it to TV, print, radio and then digital, you will agree with me. There are more people spending time on digital in comparison to other traditional media touchpoints. I only see the digital percentage increasing in the overall pie.”
With India‘s economy slowing and the bottom line of companies coming under pressure, advertising spends are bound to become increasingly result oriented. This is where digital scores over its media counterparts as it allows for more targeted marketing and better measurable RoI.
Says Brandlogist CEO Saurabh Parmar, “Digital offers clients an ease in measuring RoI and helps target a wider demographic. What is more important is that digital offers an economic advertising to the small and medium-sized businesses that aspire to advertise among the masses but do not have the budgets of TV and print.”
As consumers tighten up their purse strings, they would want to carry out detailed research as well before they arrive at a purchase making decision. The Internet is becoming the research tool of choice for several consumers, offering brands the opportunity to become more visible and interactive.
In the wake of such trends, Parmar feels that the percentage of ad spends dedicated to digital will see a spurt to 11 per cent in 2012, up from 3-5 per cent last year.
While building brands take a backseat in times of slowdown, it is an exercise that can‘t also be neglected.
Admits Mindshare principal partner Jai Lala, “Digital, specifically social media, offers brands a platform to interact with its customers.
This serves a two-pronged benefit of getting feedback and enhancing the brand image by being responsive and interactive. This is one of the main reasons why digital is growing so rapidly.”
Also Read:
Ad Slowdown Looms
Signals are for a mild ad slowdown: Mindshare‘s Lala
Slowdown to impact outdoor advertising
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
