MAM
What agencies need to do for their clients
GOA: Often clients are in a quandary when it comes to partnering with an agency. A session at Goafest 2016 organized by AAAI and the Advertising Club attempted to shed light on some of the factors that a client needed to look at when it came to a business partnership with an advertising agency. The Industry Conclave presented by Discovery Channel discussed the key elements that needed to be focused on when it came to what clients as well as agencies needed to do.
The topic of the day was ‘3 things the agency can do better’ with the speakers discussing client agency partnerships while highlighting some of the possible avenues where such partnerships could be strengthened by the agency.
Setting the tone for the discussion was Mondelez India MD Chandramouli Venkatesan who spoke about what agencies could do to make strong partnerships. Underlining four factors that were important for a better client-agency relationship, Venkatesan said that they included providing complementary strengths in addition to shared purpose and passion, trust and friendship. Inspired by the partnership between the famous duo Jay and Veeru in the Bollywood blockbuster Sholay, Venkatesan said, “It takes effort to create a partnership like Jay and Veeru. A partnership is a two way street. You get back exactly what you put in it”.
He further discussed the three key things that agencies could do for better partnerships. Outlining the importance of generating trust in this two way process was the main focus point which was the bedrock for honest and open communication. “Trust enables cutting-edge work. Trust is actually what enables the brave decision making you so often want to make,” he further added.
Citing examples of the risks that were taken by his company with three of its clients’ ads, namely, Cadbury Gorilla, Bournvita Taiyyari and Cadbury Dairy Milk Silk, Venkatesan said that his company believed that risks could be taken when there was trust in the relationship. The three main aspects required to earn trust were mainly through better decision making while keeping the client interest in mind; by being commercially responsible; and by not compromising on integrity.
To win the talent battle, agencies had to disrupt their talent model and must attract the best talent. “Ideas are temporary, talent is permanent. Talent gives rise to new ideas. One of the most important things is to build brand stewardship. It’s about quality and longevity of talent”, he said. “Ideas can work great, but not build stewardship.”
Another important thing that he stressed on was to build strong processes. Preparing for a strategic alignment at multiple levels, building project management capability and a strong team management was what the agencies need to invest in. “Process is a dreaded term in the agency world. Process is an enabler of creativity. Great partnerships always deliver outstanding results” concluded Venkatesan.
While on the other hand, United Breweries Ltd SVP marketing Samar Singh Sheikhawat pointed out that the agency as well as the client needed to know the business. A major part of understanding the client, according to Sheikhawat, was understanding the consumer. “With multiple realities in India, we ourselves don’t understand the entire world as it changes every now and then. Different countries have different business problems and hence different solutions. We have to know our consumers”, asserted Sheikhawat.
With the evolving medium of delivering messages, there was an observable explosion of content leading to multiplication of content and hence amplification of platforms to give out multiple content. Citing the example of how Kingfisher Buzz was launched he said, “With 99 per cent of males drinking beer, we noted that we have to also deliver something to the female population. The biggest challenge that we face is that our product does not deliver to a majority of the population”.
Agreeing with the key points mentioned by Venkatesan, he further added that the agencies need to have creative solutions to the common problems faced by the clients.
With key notes from FMCG and brewery companies, the next speaker on the row enlightened the audience about what an automobile client looked for in an agency. To maintain the status of the favourite hello and the hardest goodbye between the client and the agency, Volkswagen AG head of connections panning, media and international communications Oliver Maletz summed it up succinctly by saying that the agency should be the one entity that the client calls first and hangs up on last. He said, “Agencies need to focus more on thinking harder before becoming true business partners. They should know our business better than us”.
With competitive analysis, industry analysis, suability benchmarks and situational assessment, an agency could identify opportunities and reach a successful goal. “There are more opportunities now than what we had in the past. I think the agencies should be open to take risks”, he added.
He further advised that an agency should not innovate just for the sake of being innovative. It should deliver meaningful value to a meaningful number of people. With agencies approaching clients through a ‘selling’ perspective, Maletz pointed out that the agencies should stop selling their ideas, capabilities, companies, inventories, etc., to the clients. “Start helping us to sell our products and build a better brand. Be our business partner and stop selling yourself”, he added further. He concluded by saying, “Everything will follow with a good business partner”.
The evening of the Industrial Conclave wrapped up with a short panel discussion where the audience was encouraged to pose their questions to the experts via the Goafest 2016 app which had been specially designed to facilitate the best digital experience for the attendees of the festival.
If you are actively investing to grow your money month after month, you already understand the value of planning ahead. SIPs, long-term portfolios, retirement planning and goal-based investing all point to one thing. You are building a future with intent.
What often gets missed in this process is one foundational question. How well is the income that funds all these plans protected?
Term life insurance fits naturally into this stage of financial planning. It does not compete with investments. It supports them by protecting the income that makes long-term growth possible.
Why Income Protection Is a Core Part of Financial Planning
Every financial plan begins with income. Before money is invested or saved, it is earned.
Over time, this income is allocated across multiple needs:
● monthly household expenses
● EMIs and long-term loans
● savings and emergency funds
● investments aimed at future goals
As responsibilities increase, financial planning becomes layered. Each layer assumes income continuity. Term life insurance exists to ensure that this structure does not become fragile due to overdependence on a single income source.
It adds stability to plans already in motion rather than introducing a new objective.
What does term life insurance do?
Term life insurance provides a fixed payout to your nominee if you pass away during the policy term. The purpose of this payout is practical and clearly defined.
It is intended to:
● replace lost income for a defined period
● help manage outstanding liabilities
● support ongoing household and goal-based expenses
There is no investment or savings component. This keeps the product focused and cost-efficient, allowing individuals to opt for meaningful coverage without diverting funds meant for growth-oriented investments.
Why Term Life Insurance Complements Investing?
Investments and insurance play different roles in a financial plan.
Investments are designed to:
● grow wealth over time
● compound with consistency
● be adjusted as goals and risk appetite change
Term life insurance is designed to:
● provide financial continuity
● protect existing plans from disruption
● remain stable once put in place
Keeping these roles separate improves clarity. Investments are allowed to perform without being forced to double up as protection, while insurance quietly supports the overall structure.
Who Should Consider Term Life Insurance?
Term life insurance becomes relevant when financial planning extends beyond individual needs. This typically includes:
a) Working professionals
When income supports shared expenses or long-term plans, protection becomes essential.
b) Individuals with long-term liabilities
Home loans, education loans and other EMIs often extend over decades. Term insurance ensures these obligations remain manageable.
c) Parents planning future milestones
Education, healthcare and lifestyle goals require continuity over many years.
d) Early planners with rising incomes
Starting earlier allows coverage to align smoothly with career progression and evolving responsibilities.
How Much Coverage Should Be Considered?
Coverage should be guided by financial reality rather than affordability alone.
A well-rounded evaluation typically considers:
● number of years income needs to be replaced
● existing and future liabilities
● long-term goals already planned
● inflation and rising living costs
Many insurance companies offer options starting from 50 lakhs, 1 crore term insurance and higher. It allows individuals to choose coverage based on their income, liabilities and future plans.
How Term Life Insurance Fits Into a Long-Term Plan
Once set up, term life insurance does not demand frequent attention.
It does not require active monitoring, market tracking or performance reviews. Its role is structural rather than dynamic.
By ensuring financial continuity, it allows families to:
● stay aligned with long-term plans
● avoid rushed financial decisions
● focus on execution rather than damage control
When aligned correctly, term insurance strengthens the foundation on which investments, savings and retirement plans are built.
Choose the Right Insurance Partner
Once the need, coverage amount and role of term life insurance are clear, the final and most important step is choosing the right partner.
This decision should be based on:
● clarity and transparency in policy terms
● a strong claim settlement track record
● consistency in servicing and communication
● the ability to support long-term financial planning rather than just selling a product
Term life insurance is a long-term commitment. The partner you choose today will be the one your family relies on years down the line.
When protection is aligned with purpose and backed by a dependable insurer, term life insurance becomes a quiet but powerful part of a well-built financial plan.
