04 May 2024 | B W BUSINESSWORLD | 51 exist a decade ago. We did not have marketing managers or programmatic media managers. AI will create many jobs and perhaps even more in markets such as India where we are managing the systems. It will equip our GDCs with more insights and capabilities than it has done in the past. What role do partnerships play in WPP’s strategy, in the AI context? Partnerships are crucial, especially in technology adoption. Collaborating with tech giants such as Amazon, Microsoft and Google allows us to leverage their significant AI investments. WPP Open, for example, is powered by our own proprietary Al products, WPP Brains - each is trained on a variety of data sources and Large Language Models to optimise the entire marketing process, and our first Brand Brain was built on Amazon Web Services in fact. This collaboration accelerates our product development and innovation processes, enabling us to offer cutting-edge solutions to our clients. Our focus on people plus technology, underpinned by strategic and creative judgment, ensures that our AI applications are both innovative and ethically sound. Looking ahead, what are your expectations for WPP in 2024, especially considering the potential economic conditions? We are optimistic about 2024. The post-Covid recovery has been robust, particularly in India, and we expect this momentum to continue. Our focus will remain on deepening our AI capabilities, enhancing creative output, and ensuring operational efficiency. These pillars will support our financial goals and reinforce our market leadership. [email protected]; @NFWarsia WPP today stands as a more cohesive, creative and technology-driven organisation. This structural simplicity has also enhanced our operational efficacy
52 | B W BUSINESSWORLD | 04 May 2024 COVER STORY Q&A As India’s advertising industry continues to evolve, WPP is at the forefront of innovation and growth. In this interview with BW Businessworld’s Noor Fathima Warsia, WPP’s Country Manager for India, CVL SRINIVAS, shares insights into the company’s strategy, the importance of technology and creativity, fostering a collaborative culture and its commitment to social impact and sustainability WPP CREATIVITY + TECH + INNOVATION As the Country Manager of WPP in India, please tell us more about how WPP’s global strategy aligns with India. WPP’s strategy is about providing our clients with world-class services, focusing on technology, creativity and data. In India, we have adapted this strategy to suit local market conditions while maintaining alignment with our global objectives. We have evolved significantly and there are a couple of areas where we are contributing back to the global organisation in terms of best practices. I would especially call out the work we are doing in the key areas of artificial intelligence (AI) and creativity. Our Tech Experience Centre is an exciting initiative where we’re doing fantastic work, integrating AI into creative processes. significant growth driver for WPP. The GDCs are no longer siloed; they are integrated into our new agency model, providing comprehensive support to our clients globally. Let’s talk about growth in India. What are your expectations for the market in the coming year? We are expecting decent organic growth in India. Even this year, the AdEx is projected to grow doubledigit, thanks to a mix of government and private sector initiatives. Additionally, we have several big-ticket events lined up in the year, which should boost growth. The focus “WE ARE COMMITTED TO DRIVING POSITIVE CHANGE” Could you elaborate on what WPP hopes to achieve with the Tech Experience Centre? Our Tech Experience Centre allows us to combine the power of technology and creativity, enabling us to create innovative solutions for businesses. We are exploring how AI can enhance the creative process, whether through content generation, data analysis or customer engagement. It’s a fascinating area, and we are proud of the work we are doing here. You also discussed WPP’s Global Delivery Centres (GDCs). How do they contribute to WPP’s growth strategy in India? The GDCs play a critical role in WPP’s transformation and simplification efforts. We are scaling them up to add more value, with India as a key player in this process. Our IT support structure is being set up in Chennai and we have a large commercial back office supporting our global operations. This makes India a on GDCs and AI in our operations will also drive expansion. While the startup ecosystem has slowed, traditional sectors such as CPG, auto and offline retail are rebounding, leading to a more balanced ad spend. Given the dichotomy between high growth and slower growth rates in certain sectors in India – tech and startups slowed down for example, where do you see growth coming from in the Indian market, and your role as WPP in this context? We have seen a rebound in the market after the pandemic, but we are now stabilising to more realistic growth numbers. Despite this, India remains one of the fastest-growing large markets, which is true for the advertising sector as well. As I menin association with
04 May 2024 | B W BUSINESSWORLD | 53 tell us more about WPP’s initiatives in this area? Our Chief People Officer, Shilpa Chitre and Chief Culture Officer, Apurva Bapna, are leading the charge in supporting our agency teams. We emphasise HR policies and culturebuilding initiatives, fostering collaboration across the market. We invest heavily in learning, development and training to ensure our people are equipped for the future. Additionally, we run several communities that promote a collaborative spirit. Social impact and sustainability are also key areas for WPP. What initiatives have you undertaken to drive positive change? This is integral to our growth strategy. In India, we have established a foundation that supports over 15,000 schoolchildren, providing vocational education skills. WPP is also on the board of a coalition driving sustainability in corporate India, working alongside major companies such as Hindustan Unilever and State Bank of India. As one of the founder members of the Unstereotype Alliance, we are collaborating with the Advertising Standards Council of India to bring a more balanced code of advertising to the market. There appears to be much happening that is keeping you busy. Any final thoughts on your plans for the year ahead? We remain committed to providing our clients with exceptional services, fostering a collaborative culture and driving positive change in the Indian market. tioned, the slowdown in some sectors is balanced by growth in others, and the General Election also positively impact ad spend. Our role is to provide stability and growth through our diversified portfolio and strong agency brands. Speaking of agency brands, how does WPP balance its holding company structure with individual agency brands? WPP has a robust portfolio of agency brands. While we have simplified the structure, we respect each agency’s identity, the leadership there, the culture and the work they do for marketers. As a holding company, our job is to ensure that clients and our people benefit from WPP’s collective power, regardless of the agency they work with. We have five central focus areas in India: client-centricity, leveraging technology, data and creativity; nurturing our people and culture; scaling up our GDC practice and embracing social impact and sustainability. It is great to hear about your focus on people and culture. Could you We invest heavily in learning, development and training to ensure our people are equipped for the future
54 | B W BUSINESSWORLD | 04 May 2024 COVER STORY WPP/GROUPM Q&A CREATIVITY + TECH + INNOVATION Modern marketing is seeing unprecedented opportunities, which in turn have augmented its ability to find new sources of growth within a business. The GroupM CEO for the South Asia region, Prasanth Kumar aka PK, says that the only downside is “there just isn’t enough time” in this interview with Noor Fathima Warsia PK, let’s begin with GroupM’s contribution to WPP’s overall revenue in India. How well would you say you are doing? Without getting into the numbers, we continue to be a stronger contributor to WPP. We also have a responsibility in this context. We have always explored growth areas, and a significant amount of learning has happened through the years. While we may be good in a few aspects, we are in a position where we integrate well with other WPP companies. We are not just seeing linear growth but diversified growth, which is very important to us. So, I would say we are in a very good position. In the last few years, GroupM, much like WPP, has undergone a streamlining process. Where have the chips fallen, as you see now, among your re-imagined media agency brands? GroupM is home to the top three media agency brands in India -- Mindshare, Wavemaker and EssenceMediaCom. mSix&Partners and Motivator have their niches, and they are doing very well in that. The agencies compete with each other on various parameters and it is a great place to be in because the closer you observe, the clearer you see the distinction between them. It is not just about the client portfolio and the mix or the approach to customisation and work, but it is a cultural difference. All GroupM agencies have the hunger to improve themselves and each has grown. The way they are built also allows more flexibility for our clients. This strategy will continue without losing focus on clients and businesses. We have a very good cadre of work, which I see as a good sign. In fact, many large marketers have come up with some very interesting solutions as well. How are you seeing marketing evolve as a function in these tech-first times? Marketers have unprecedented opportunities today. They are focusing on value versus volume, finding new consumer cohorts and creating strategies for multiple market penetration in different forms. Marketing is playing a much larger role in the ability to find new growth sources within a business. Whether it is finding new consumers, customer retention, creating sub-categories, identifying white spaces or developing consumer habits, there is a wider scope to do more. Tech is playing a role but we are also seeing other areas open up. For example, events. Events have picked up in a big way in India. We are seeing global formats coming into play. Sports have opened up beyond cricket, and the Olympics is coming up, fuelling more opportunities for fresh marketing solutions. GroupM This Year Next Year report had some positive forecasts, though the numbers are not as aggressive as they were in 2021-22. We saw very good growth in 2021 and early 2022 in comparison to the preceding years. Part of the reason for that was startups and the tech sector had picked up. Conventional companies too were doing well. Today, the market is adapting to newer challenges, but there are many gains as well. “We Are Living In The Most Exciting Times” in association with
04 May 2024 | B W BUSINESSWORLD | 55 influencer marketing and the like. Small and medium-sized businesses & enterprises (SMBs/SMEs) have picked up. We saw 11.3 per cent growth in 2023 and we are seeing a 10.2 per cent growth in 2024, which is a realistic scenario. But these are very exciting times. I have not seen this kind of energy ever. There is much to imagine and so many opportunities to find radical solutions. Modern marketing has never witnessed this kind of multitiered, multi-faceted growth story. On another note, we have not seen GroupM do much in acquisitions of late. Any plans for this year? Acquisitions cannot be done for acquisition’s sake. We have to critically look at how it can add value to what we do, what we bring to our clients, and also how we add value to the acquired company. I am sure you will hear more about that when the time is right. What are some areas of focus for you in the year ahead? We intend to grow our diversified services with data, commerce, influencer and content. Our focus on clients will remain paramount. We want to do fantastic work, getting more value for our existing clients. And we want to keep the thrust on winning new businesses as well. We will focus on the SMBs/SMEs space as well. Leaders need to do more in the market. To stitch all of this, it is important to grow our people. We are upgrading their skills, adding new skills and finding diverse skill sets with a wider source of talent pool. As tech enhances and we adapt to AI, our tools become better. When that happens, it is inherent in our nature to do more with that and improve further. AI is an important space, where we are testing and learning continuously. We are in a very exciting phase, where 24 hours is simply not enough. Digital, for example, has become a much larger world with commerce, influencer marketing, video and content developing in a big way. The supply and format grew, and so did the demand. There has been a recovery in TV, print and other media too. TV is growing at a higher percentage than last year. The momentum in each medium has continued especially with Connected TV, Digital OOH, online radio solutions and the like kicking in. By the second half of 2022, we had begun to see startups and tech sectors feel the pressure. At present, while the challenges continue, the growth source comes from some conventional startups due to the rise in commerce, Marketers have unprecedented opportunities today. They are focusing on value versus volume, finding new consumer cohorts and creating strategies for multiple market penetration in different forms
56 | B W BUSINESSWORLD | 04 May 2024 COVER STORY WPP/OGILVY SPOTLIGHT CREATIVITY + TECH + INNOVATION outdoor innovation for Brooke Bond Taj Mahal Tea, the agency exemplifies the seamless integration of creativity and technology. With the rise of generative AI, Pathak sees both challenges and opportunities. “Generative AI will bring down perspiration, but I think it will also create space for inspiration”, she stresses. Pathak believes that while AI can be a valuable tool for efficiency and ideation, it is the human imagination that remains the most crucial currency. “Technology will always be an enabler and a support of the human mind but without human imagination, it will homogenise the creative process”, she notes. The WPP Advantage As part of the WPP network, Ogilvy India benefits from the holding company and has fostered a collaborative and symbiotic relationship. Pathak speaks highly of this partnership stating, “We don’t hesitate when we need to leverage anything at WPP. When we want to leverage our WPP spread of capabilities, they’ve got a widespread of offerings.” Looking Ahead As Ogilvy India sets its sights on 2024, Pathak emphasises scaling transformative offerings, fortifying the content force, and fostering innovation. Talent management remains a crucial pillar for Pathak’s growth vision. She shares, “The next level of bench strength is critical. We’re going to have a systemic way of doing that and attracting the best across functions to future-proof the company.” Echoing David Ogilvy, she underscores the need for innovation and resourcefulness, emphasising, “Nothing is simple, nothing is linear. We’ve got to hustle to make the impossible happen.” “It’s a big and an exciting responsibility to steer brand Ogilvy in India in these times when the communication world is changing so rapidly” Making The Impossible, Possible Ogilvy India’s first woman Executive Chairperson, HEPHZIBAH PATHAK vouches for creativity being the oxygen for growth, with tech adding value to it By Reema Bhaduri L AST y e a r, Ogilvy India onboarded Hephzibah Pathak as its new Executive Chairperson, making her the first woman to hold this position in the agency’s 95- year history. Captain Of Change Reflecting on her new role, Pathak likened it to a transition from vice-captain to captain. “It’s a big responsibility, but also an exciting challenge because of the opportunity to steer brand Ogilvy in India in these times when the communication world is changing so rapidly - we too are changing, innovating, transforming and scaling to build an edge in the new world.” Mastering Creativity And Technology The dual focus on creativity and technology is a fundamental tenet of Ogilvy. Highlighting creativity as a core pillar, Pathak asserts, “You can have all the capabilities but without creativity, it means nothing. Our innovation happens at the intersection of creativity and capability.” However, she also stresses, “We need to evolve the way we solve and leverage creative technology and data to create distinctive experiences that are insightful, imaginative and impactful.” From the SRK-led Mondelez campaign for Cadbury to the award-winning ‘Megh Malhar’ in association with
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58 | B W BUSINESSWORLD | 04 May 2024 COVER STORY WPP/VML SPOTLIGHT CREATIVITY + TECH + INNOVATION experience and commerce come together, it’s a full journey”, she stresses. The consolidation of Wunderman Thompson and VMLY&R into VML has presented both challenges and opportunities. Baruah acknowledges the complexities of merging two distinct entities but sees it as a marriage of complementary strengths. “With this unification, we are creating a strong entity that completes the picture for both the entities”, she explains. Growth Strategy From a revenue standpoint, Baruah highlights, “Every business needs growth. For VML, it is simplicity at scale.” The philosophy entails a seamless workflow where teams collaborate under a singular leadership, ensuring a cohesive and efficient execution. With this, VML aims to facilitate retail conversion and enhance customer experiences to scale their businesses according to their needs. Amidst the integration, VML is harnessing technology to empower creativity and drive innovation, leveraging WPP’s expertise in generative AI. “The play of AI and generative AI with creativity is the way VML and WPP are looking at it is how to empower creativity”, she notes. Focus Areas For 2024 As VML charts its course for the future, Baruah delineates her vision for 2024, anchored in client-centricity, talent development and technological innovation. “The idea is at every touch point in the customer journey and to go to businesses with a full suite of solutions”, she states. The focus is on enhancing creative solutions, infusing technology and developing new capabilities, from personalised content to automated workflows. “The second would be attracting good and new talent that works with these new set of capabilities”, Baruah adds. Simplicity At Scale BABITA BARUAH, CEO of VML India prioritises a unified culture, fostering collaboration and innovation through leadership-driven initiatives & technology By Reema Bhaduri BORN on January 1, 2024, the journey of VML’s transformation began with the unification of two legacy entities - Wunderman Thompson and VMLY&R. The metamorphosis of VML goes beyond a mere rebranding. It’s a strategic alignment, bridging the realms of brand experience, customer engagement and a commerce company, all rolled into one. A Unified Vision Returning to India after three years, Babita Baruah finds herself at the helm of a new era for VML as the Chief Executive Officer. Reflecting on her homecoming, she remarks, “India is home and WPP has been home. Things have changed a lot in business with a focus on creativity, technology and I see so much focus on digital and connection to growth.” Baruah highlights that the marketing journey today extends far beyond traditional campaigns. It encompasses the entire customer lifecycle, from brand awareness to conversion. “When brand experience, customer “When brand experience, customer experience and commerce come together, it’s a full journey” in association with
#BWBestCFO In association with 7th edition RECOGNISING FINANCIAL BRILLIANCE 7th Edition May 10, 2024 The Imperial, New Delhi REGISTER NOW DR ANNURAG BATRA Chairman & Editor-in-Chief BW Businessworld Founder, exchange4media SANJAY UPADHYAY Director (Finance) & Group CFO Deepak Nitrite SUPARNA BANERJEE BHATTACHARYYA CFO Schneider Electric Infrastructure VINAY DHAWAN Director & Group CFO Innovis Telecom Services SAMEER MADAN Director Finance Agilent Technologies UPMA GOEL Chief Finance Oficer Piramal Enterprises VIKAS RALHAN CFO Loconav India PREETI CHHEDA CFO K Raheja Corp Investment Managers MAHENDRA LODHA CFO Bloomsbury India BHARAT AGRAWAL Director Finance Diversey EMINENT SPEAKERS For Registration: Akash Pandey | +91 7898908944 [email protected] Aditi Rawat | +91 9873431912 [email protected] For Speaking Opportunity: Reeti Gupta | +91 98996 10630 [email protected] For Community Collaboration: Talees Rizvi | +91 93106 34007 [email protected] For Sponsorship: Aparna Sengupta | [email protected] | +91 9958000128 Anjeet Trivedi | [email protected] | +91 9818122217 CS Rajaraman | [email protected] | +91 9342262859 Deepak Bhatt | [email protected] | +91 9429423232 Kiran Dedhia | [email protected] | +91 9833399009 Rajeev Chauhan | [email protected] | +91 9811820301 Ravi Khatri | [email protected] | +91 9891315715 Sajjad Mohammad | [email protected] | +91 9911855935 Shruti Arora | [email protected] | +91 79826 28913 Somyajit Sengupta | [email protected] | +91 9818247444 Faizuz Ahamed | [email protected] | +91 98206 68333 Santosh B Singh | [email protected] | +91 9820129879
60 | B W BUSINESSWORLD | 04 May 2024 COVER STORY WPP/LANDOR Q&A CREATIVITY + TECH + INNOVATION ing strategies? We prioritise maintaining existing brand equity while incorporating fresh elements to stay relevant. Utilising tools like the Sacred Brand Assets Evaluator, we identify key brand elements to retain and evolve. Our goal is to preserve heritage while shedding outdated elements and injecting energy and relevance into the brand. How do emerging technologies shape the future of brand experiences and how does Landor integrate them? I think emerging technologies are very important, but we must be careful. They can be new toys. We shouldn’t just use them for the sake of it because we want an AR intervention or a VR intervention. I think the goal is to truly understand the consumer journey or the customer journey. It is to imagine how to engage them, to create immersive experiences, to emotionally connect in meaningful ways. “It’s No Longer Just About What Brands Say But How They Are Experienced” As a leader in branding and design globally, Landor, a division of WPP stands at the forefront of crafting captivating brand identities and experiences that resonate with audiences worldwide. With over 23 years of experience in the industry, Lulu Raghavan, Vice President - APAC & Managing Director - India at Landor sheds light on the transformative journey that the company has undertaken and the future of branding By Reema Bhaduri How have you witnessed the evolution of brands in your tenure at Landor? Brands have changed dramatically. One of the biggest shifts is the move towards experiential branding. It’s no longer just about what a brand says, but how it’s experienced. The digital landscape has completely changed how we approach branding and design in terms of keeping pace with consumers. In this digital-first world, things aren’t static anymore, the logos today itself are dynamic, always in motion. How was 2023 for Landor amidst economic challenges and what are your focus areas for 2024? 2023 was a fantastic year for us and we grew by 30 per cent. In 2024, we want to go deeper with fewer clients. We want to deliver more expansive creativity to move consumers emotionally. Secondly, there will be a lot more focus on the WPP integration. It’s been a very useful growth strategy for us. We want to leverage AI for efficiency and to scale creativity at a tremendous level. Unleashing the possibilities of AI in our business will also be a huge focus. Nonetheless, scaling India is on the charts since we had a great year. In the Landor network, we serve our Indian clients who are in India as well as those going global and the global clients who have India strategies. How does Landor navigate preserving brand heritage while fostering innovation in its brand- “2023 was a fantastic year for us and we grew by 30 per cent. In 2024, we want to deliver more expansive creativity to move consumers emotionally” in association with
04 May 2024 | B W BUSINESSWORLD | 61 COVER STORY WPP/GREY SPOTLIGHT CREATIVITY + TECH + INNOVATION ture where mainline and digital teams work synergistically, Grey has expanded its integrated mandates, providing clients with holistic solutions tailored to the evolving market landscape.“Clients now seek agencies that combine the strategic prowess of traditional advertising with the agility of digital execution. This convergence will remain our guiding principle moving forward”, she adds. Innovation In Advertising Shetty emphasises the role of technology, particularly AI in shaping the future of communication. She asserts, “AI can enhance our research capabilities and optimise certain tasks, but true creativity stems from human experiences and emotions. Our focus remains on leveraging technology as an enabler while preserving the essence of creative storytelling.” While AI offers opportunities for data-driven insights and automation, Shetty reaffirms the irreplaceable role of human creativity in crafting impactful campaigns. Diversity And Inclusion Grey places a strong emphasis on diversity and inclusion, both internally and in its campaigns. “Diversity isn’t just about doing the right thing; it’s essential for accurately representing the society we serve,” remarks Shetty. “Every aspect of our operations, from hiring practices to language use, reflects our commitment to inclusivity.” Moreover, Grey fosters an inclusive environment where open dialogue and awareness-building initiatives promote diversity as a core value. Emerging Trends “As an agency, we live and breathe trends,” says Shetty. The agency remains vigilant in identifying and integrating emerging trends into its practices. Shetty explains, “From weekly trend analysis sessions to a culture of constant experimentation, we’re always exploring new avenues for innovation and growth.” “Diversity isn’t just about doing the right thing; it’s essential for accurately representing the society we serve” Resilience, Innovation, Inclusion ANUSHA SHETTY, Chairperson and Group CEO of Grey highlights AI’s potential in communication, balancing it with human creativity to maintain the essence of storytelling By Reema Bhaduri A DAPTING t o change is not just a necessity but a core principle for survival and growth in the business of advertising and marketing. Reflecting on the past year, Grey showcases resilience amidst adversity. Despite facing growth challenges and a perceived slowdown in the industry, Grey remained steadfast in its commitment to delivering excellence. Anusha Shetty, Chairperson and Group CEO of Grey attributes this resilience to the strategic acquisition of Autumn in 2018. The acquisition laid the foundation for an integrated talent framework, bridging the gap between traditional and digital expertise within the agency. “In times of slowdown, clients don’t halt demand generation; they simply pivot towards more cost-effective mediums. Our integrated talent pool enabled us to adapt seamlessly, offering clients innovative solutions while optimising costs”, explains Shetty. Embracing Integrated Growth Shetty underscores Grey’s focus on nurturing integrated talent and driving growth through cross-disciplinary collaboration in 2024. “We foresee continued momentum in nurturing talent and driving integrated mandates,” states Shetty. By fostering a culin association with
62 | B W BUSINESSWORLD | 04 May 2024 IN DEPTH CREATIVITY + TECH + INNOVATION CHANGE AGENTS: MARKET EXPANSION Photograph by Rawpixel Brands in India are doubling down on how to identify and create new markets to continue their growth and expansion, a process easier said than done By Neha Kalra Creating New Markets: A Growth Imperative
04 May 2024 | B W BUSINESSWORLD | 63 S EVERAL factors, including identifying potential markets, reviewing challenges and lessons learned, personalisation, premiumisation, localisation, cultural adaptation and ROI, help shape a company’s marketing strategy and determine the decisions brands make to establish their presence. Impending Markets When entering new markets, brands must consider various factors, such as target audience, cultural nuances and product-market fit, as Titan Watches does through rigorous research. “This is built from both qualitative and quantitative data on the lifestyle preferences of our target audience, surrogates for discretionary spending, competitive presence and performance, and retail markers of affluence, premiumisation and consumption,” says Ranjani Krishnaswamy, the CMO of Titan Company’s Mainline Analog Watches. Titan conducts experiments such as consumer events, trunk shows, and partner meetings to gauge the rate of adoption and trial of new products in existing markets or new markets. “The expansion of our jewellery business outside India and our differential approach in the UAE, Singapore and the USA is a fitting example. Each market has its own unique set of must-wins, and our mix is devised, based on the needs of the market. In India, we are seeing a shift towards premium ownership. In the analog watches category, discerning consumers are gravitating towards automatic watches.” Another India-born brand, Bisleri, started its global footprint in the Middle East last year. “We see the UAE as a great opportunity, with a majority of the water consumption happening through packaged drinking water. The presence of a large Indian diaspora is also an advantage. Consumers know Bisleri as a trustworthy brand,” says Tushar Malhotra, Director of Sales & Marketing, Bisleri. “Our ambition is to further grow in the UAE and expand our footprint in other GCC markets that share similar characteristics in terms of demographic construct and consumer behaviour,” adds Malhotra. To identify and prioritise potential new markets for product launches, Pooja Baid, Chief Marketing Officer, Versuni India Home Solutions India, follows a six-step system. “We start by conducting market research to assess factors such as market size, growth potential, competition, regulatory environment, cultural considerations and consumer preferences.” The second step is to analyse data on demographics, economic indicators and industry trends. Thirdly, the brand uses market segmentation to target specific customer segments. The fourth stage would be to prioritise markets based on factors like market attractiveness, accessibility and strategic fit with the product offering and company objectives. The brand, fifthly, considers factors such as market stability, ease of market entry and potential for long-term growth. Lastly, it creates a ranking system or matrix to compare and prioritise markets effectively. Distribution strategy is key for penetration into urban and rural markets, and Ferrero has an aggressive Route-to-Market plan that has direct coverage of towns. Taking into consideration India’s tropical conditions, the packaging, route to market, and infrastructure for the trade ensure that Ferrero delivers freshness and quality products at the endpoint of consumption. At Good Glamm Group, identifying and prioritising new markets for product launches involves a data-driven approach that incorporates market insights and keeps up with the latest skincare and makeup trends. Sukhleen Aneja, CEO, Good Brands Co., Good Glamm Group, says, “In the case “In the case of the introduction of the MyGlamm Super Seruminfused makeup range, catering to multifaceted ‘Super Women’, we leverage our extensive consumer database to identify regions with untapped potential, such as Tier II and III cities in India” SUKHLEEN ANEJA, CEO, Good Brands Co, Good Glamm Group
64 | B W BUSINESSWORLD | 04 May 2024 CREATIVITY + TECH + INNOVATION of the introduction of the MyGlamm Super Serum-infused makeup range, catering to multifaceted ‘Super Women’, we leverage our extensive consumer database to identify regions with untapped potential, such as Tier II and III cities in India. As we expand internationally into markets such as the United States, the Middle East, and Southeast Asia, we focus on regions that share our brand values and have a high demand for premium beauty products. Our goal is to grow our portfolio brands by 200 percent over the next three years, cementing our position as a global leader in the beauty industry.” Challenges and Learnings In today’s dynamic world, businesses must strike a balance between market consistency and adapting their brand to local contexts. Understanding the nuances of each market and tailorpose a challenge due to the fragmented retail structure. “ For the trade, we use small, prepacked display units. We also saw an opportunity in ‘everyday gifting’ for birthdays, anniversaries, and other smaller events. Indian consumers love Ferrero Rocher, and to cater to the trade, we deployed Visicooler, which will help in maintaining the integrity of this delicate product. Using spreads is a habit in India, and we used the same consumer behaviour in our communication for Nutella,” he says. Setting foot into new markets utilising a strategic approach, Pooja Baid, Chief Marketing Officer, Versuni India Home Solutions India, underlines that she first analyses market trends, cultural nuances and regulatory frameworks unique to each region. “Then, I customise products or services to meet local preferences and compliance standards. Building strong partnerships with local businesses and leveraging technology for efficient operations are key strategies. Continuous market research and customer feedback help in adapting strategies swiftly. Lastly, I focus on talent acquisition and training to ensure a skilled workforce, capable of navigating diverse market landscapes. Flexibility, adaptability, and a customer-centric mindset are the cornerstones of my expansion strategy.” Her biggest learning with expansion across new markets has been to start by knowing that what works in one market might or might not work in another. “We see UAE as a great opportunity with a majority of the water consumption happening through packaged drinking water. The presence of a large Indian diaspora is also an advantage - consumers know Bisleri as a trustworthy brand” TUSHAR MALHOTRA, Director of Sales & Marketing, Bisleri ing branding elements to reflect local values promotes greater brand loyalty. Maintaining consistency reinforces a unified image and core values, but adapting to local circumstances is also critical. Zoher Kapuswala, Marketing Head (Ferrero Rocher, Nutella, and Tic Tac), Ferrero India, outlines, “We are a global company with unique and mega brands. The biggest challenge is being relevant to local consumers. India and the other Southeast Asian markets also “We are a global company with unique and mega brands. The biggest challenge it to be relevant to the local consumers. India and the other South East markets also pose a challenge of the fragmented retail structure” ZOHER KAPUSWALA, Marketing Head (Ferrero Rocher, Nutella & Tic Tac), Ferrero India IN DEPTH CHANGE AGENTS: MARKET EXPANSION
66 | B W BUSINESSWORLD | 04 May 2024 stand out. “Our portfolio of brands is strategically designed to cater to the diverse needs of individuals across different stages of life, incorporating personalisation, premiumisation, localisation, and adaptation to cultural differences in our product offerings and marketing strategies,” she adds. Mapping Success and ROI The level of success and ROI that brands can achieve is a major factor in determining what they choose to do (and what they do not do). Like most brands do, Krishnaswamy points out that Titan measures the effectiveness and Return on Investment (ROI) of its market expansion efforts by studying several key metrics. “Firstly, we track the gain in market share across catchment areas, towns, states and the country. This helps us understand our penetration and growth in new markets. Monitoring the percentage of repeat customers and the Net Promoter Score helps us evaluate customer satisfaction and loyalty. These serve as crucial indicators of brand awareness and overall success. Furthermore, we analyse stock turns, portfolio mix and return on advertising spend to build a holistic evaluation of our merchandise and marketing campaigns.” Central to Good Brands Co’s strategy is its content-commerce model, which enables direct engagement with customers on its DTC platforms. Aneja adds, “We gauge the effectiveness of our market expansion initiatives by tracking key metrics such as the acquisition of new customers, transacted customers, and loyalty programme members.” She gives the example of their dotcom platform, where they have over 15 million transacted customers and 25 million loyalty programme members, which contribute significantly to their revenue. Hence, there needs to be a tailor-made approach during expansion. Aneja talks about employing an approach rooted in resilience, adaptability and innovation. She says, “One of our key strategies involves leveraging our content-commerce strategy, which integrates our in-house assets such as Good Media Co. and Good Creator Co. This approach allows us to effectively reach and engage with our target audience while minimising customer acquisition costs (CAC) and optimising our customer acquisition model. By maintaining a focus on innovation and customer-centricity, we have successfully overcome obstacles and ensured the continued success of our brands in new markets.” Ready To Adapt The rise in purchasing power among Indian consumers has resulted in changes in product and brand sales, with personalised and localised approaches that take cultural nuances into account. Ferrero focuses on aesthetic packaging and product identity, such as Ferrero Rocher’s distinctive round shape and golden wrapping resembling a golden laddoo, which appeal to consumers beyond metropolitan areas. The use of gold, which is considered auspicious and associated with prosperity, is also used to premiumise the range. Ferrero uses the characterisation of its packaging during all the local festivals like Diwali, Holi and Valentine’s Day to be more relevant to the Indian consumer. Kapuswala further says, “The brand capitalises on seasonal events and topical days like World Chocolate Day to increase customer engagement and sales. During celebrations, we leverage our product selections as perfect gift options, thereby capitalising on’moment marketing’. Moreover, we understand the impact endorsers and influencers have on our target audience, thereby amplifying its reach. In the coming months, we look forward to leveraging our endorsers and social media influencers during various relevant occasions.” Adding to what Kapuswala already stressed, Baid mentions that emphasising premium features, craftsmanship, sustainability or exclusivity to differentiate your brand from competitors is a way to make one’s brand “This is built from both qualitative and quantitative data on the lifestyle preferences of our target audience, surrogates for discretionary spending, competitive presence and performance, and retail markers of affluence, premiumisation and consumption” RANJANI KRISHNASWAMY, CMO - Mainline Analog Watches, Titan Company IN DEPTH CHANGE AGENTS: MARKET EXPANSION CREATIVITY + TECH + INNOVATION
#IAmExceptional SCAN TO NOMINATE NOMINATIONS CLOSING SOON NOMINATE NOW AWARD CEREMONY AND MANAGEMENT LEADERSHIP & STRATEGY SUMMIT 30 APRIL 2024 fifffflffiflffffffiffifflff fifffflffifflflffiflflflflflfffflffiffl ffi ffl ffffl fi ffl fl flflflflflfl ffl ffl ffffl fifffflffi ffi ffffl AWARDS ffifflflffiflflflflflfl ffiffl ffl ffffl EXCEPTIONAL MANAGERS LEADERSHIP & STRATEGY SUMMIT 2024 MANAGEMENT EMINENT SPEAKERS IRANI S ROY CHRO, Signify India Subcontinent Signify Innovations India PALLAVI PODDAR CHRO Fenesta Windows DEO KUMAR PANDEY Country People Director (Head of HR), Knauf India PALABATLA VENKATESH Vice President Human Resources Avineon India SRINIVAS REDDY P SVP & Head of Human Resources Pristyn Care VIKRAM JIT SINGH Head HR - South Asia Li & Fung SHIKHA GUPTA CHRO Luminous Power Technologies VIEKAS K KHOKHA CHRO Sharda Motor Industries ABHAY KAPOOR Head – HR & Administration Suzuki Motor Gujarat RAJ KAMAL SINGHAL Director & COO Hitachi Systems India POONAM BHARTI ED & CHRO Shriram Pistons & Rings SHALEEN MANIK CHRO Transsion India (itel, Tecno & Infinix Mobiles) PRASHANT KHULLAR CHRO Ecom Express DEEPTI MEHTA CHRO Interface Microsystems ASEEM NATH TRIPATHI CHRO Multiplier Brand Solutions LOKESH SHARMA CHRO National Commodities Management Services SULBHA RAI Chief People Officer RenewBuy PRAVEEN PUROHIT Dy Group CHRO Vedanta Group PRIYANKA GULATI Partner Human Capital Consulting Grant Thornton Bharat SUNNY VERMA Group Head - L & OD JBM Group MONIKA GARG Associate Director Global HR Operations Support Fresenius Medical Care DR. ANNURAG BATRA Chairman & Editor-in-Chief BW Businessworld & Founder, exchange4media
68 | B W BUSINESSWORLD | 04 May 2024 IN DEPTH Marketers have understood the need to take an authentic green approach in communication and innovation in sustainability to grow their brands and businesses By Neha Kalra CREATIVITY + TECH + INNOVATION Breaking Through The Greenwashing Clutter SUSTAINABILITY is a contentious issue today due to the discrepancy between rhetoric and action. With Gen Z prioritising ecological preservation, brands must take significant steps to establish themselves as sustainable. BW Marketing World talks to marketing experts on their approach to green communication, innovation in sustainability and adhering to clean-green policies. Sustainable All The Way Today’s consumers, in particular Gen Z’s, value sustainability greatly and prefer a brand with a purpose. There is an inherent curiosity to gather information on the brands they consume and their impact on the environment. Sustainability making its place in the marketing and communication plans of brands was inevitable. Tushar Malhotra, Director, Sales & Marketing, Bisleri, is proud that the brand has sustainability at its heart. “Through the implementation of the 3R Framework, or the Reduce, Recycle and Reuse model, which fosters a circular economy, we have recycled more than 65,000 metric tonnes of plastic last year… Through our sustainability initiatives, we have managed to reduce 208.83 million kg of CO2 emissions last year,” he says. Ranjani Krishnaswamy, Chief Marketing Officer of Mainline Analog Watches- Titan Company Limited, points out that the brand’s view on sustainability involves environmental, social and governance aspects. “Our corporate office, ‘Integrity’, which is a part of our brand persona, is a certified LEED Platinum building by the US Green Building Council. It was built with sustainable materials to reduce carbon footprint. As a first-of-its-kind corporate office, it serves as a testament to our dedication to sustainability and our planet as a whole,” he says. According to Pooja Baid, Chief Marketing Officer, Versuni India Home Solutions, Philips Domestic Appliances India, Versuni educates consumers about sustainable living practices through blog posts, social media campaigns and interactive workshops. Zoher Kapuswala, Marketing Head, Ferrero India (Ferrero Rocher, Nutella, and Tic Tac), says, “By 2030, Ferrero is committed to making all of its packaging reusable, recyclable or compostable... We recently changed the Kinder Joy plastic spoon to paper, saving 1,400 tonnes CHANGE AGENTS: SUSTAINABILITY
04 May 2024 | B W BUSINESSWORLD | 69 metics. Sukhleen Aneja, CEO, Good Brands Co., Good Glamm Group says, “We prioritise ingredients that are safe, environmentally friendly and ethically sourced.” Sustainability and Marketing Kapuswala reveals that Ferrero has a ‘Sustainability to Trade’ practice, where they educate their retailers on sustainability practices, who in turn educate their customers. Titan’s ‘Dua Ka Sona’ and its Gold exchange programme are more consumer facing and participatory in nature. Krishnaswamy emphasises that last year, Helios, the watch store, presented a unique outlook on Valentine’s Day with its campaign, #LoveEarth. Good Brands Co’s marketing efforts go beyond just promoting its products. The brand strives to engage and enlighten consumers about its environmental and social significance. Versuni leverages digital platforms such as social media, email newsletters and blogs to share information about sustainability practices. Actions are Louder Than Words Many brands focus on sustainability in packaging, leading to questions about its authenticity. However, some brands, like Bisleri, Titan, Ferrero, Good Brands Co, and Versuni are committed to sustainability in various ways. Bisleri’s “Bottles for Change” programme educates 8,00,000 people on recycling. Last year, the brand successfully restored a reservoir in the Kyagar region of Tegar Village in Nubra Valley, Leh. Titan focuses on energy, water, waste minimisation and resource optimisation, with initiatives like Gold Exchange and Titan Kanya. Good Brands Co’s Sirona promotes eco-friendly menstrual cups, reducing waste. Versuni prioritises consistent sustainability efforts over big bang initiatives. These brands demonstrate authentic commitment to sustainability. of plastic. The newly-designed recyclable Ferrero Rocher pack contains 40 per cent less plastic.” Sustainability In Innovation Titan is in the process of creating sustainable concepts for its products and innovation processes. “We have launched solar-powered analog watches under Titan watches, used recycled material in our Fastrack Revibe watches, and launched vegan sarees in Taneira. .. We have also sought to offset our our carbon footprint by taking up large-scale tree plantationss through the creationtion of Miyawaki forests in Hosur and the plantationtion of trees in public areas,” says Krishnaswamy. The Bisleri ‘Bench of Dreams’ project is an innovative programme wherein the brand will be installing more than 1,000 benches made of recycled plastic in community areas across the country. Versun prioritises eco-friendly materials, energy-efficient technologies and waste reduction strategies during product ideation and design phases. MyGlamm has positioned itself as a leader in clean beauty products, catering to the growing demand for natural cosSustainability became an unavoidable component of brands’ marketing and communication strategies Photograph by Francescoscatena
70 | B W BUSINESSWORLD | 04 May 2024 By Soumya Sehgal CREATIVITY + TECH + INNOVATION AS INDISPENSABLE as India is for the global economy, it is also a high-priority market for the global advertising industry. Eileen Kiernan, the global CEO of IPG Mediabrands, has often emphasised on India being a compelling country for them, primarily for its people, the work it delivers to local and overseas brands, the scale of growth, and its technology and digital capabilities. He has also expressed how India is their number two talent business in the world, standing strong as the seventh largest contributor in terms of revenue. Upping The Tech And Digital Ante IPG Mediabrands India works on its long-term successes through its high-end digital and technological efforts, deeply rooted in creativity and innovation. Some of its initiatives in the past few years, like the launch of Kinesso, reflect IPG’s broader strategy to streamline operations and enhance efficiency by consolidating three major brands—Kinesso, Reprise and Matterkind—under the Kinesso banner. While aiming to leverage the significant trends in the media landscape, Kinesso intends to harness the power of technology and data to create a more streamlined approach to client services. With the role of data analytics becoming more crucial than ever, IPG’s acquisition of Acxiom in 2018, valued at $2.3 billion, is another testament to its strong focus on data-led solutions, helping companies navigate the complexity of creating personalised brand experiences across every consumer touchpoint. On acquisition- and datadriven strategies transforming the way brands engage with their audiences, IPG Mediabrands India CEO, Shashi Sinha, says, “IPG has acquired one of the largest companies in this space globally, Acxiom. And a lot of their products and practices are in Innovative Tech Widens Horizon For Creativity IPG Mediabrands India is at the helm of digital transformations today, closely working on brands and partnerships that, in turn, are yielding exceptional business for them "IPG acquired Acxiom, one of the largest companies in the data analytics space, and much of their products and practices are in play in India through us" SHASHI SINHA, CEO, IPG Mediabrands India IN FOCUS IPG MEDIABRANDS
04 May 2024 | B W BUSINESSWORLD | 71 Power Play In 2024 As the ecosystem adapts to a digital-first approach, the agency partners are keeping pace with both operational design and brand solutions. This is reflected in an improved understanding of multiple digital opportunities to achieve the brand goals, along with partnerships and measurement approaches to evaluate results. While 2023 was a decent year for IPG Mediabrands India, the focus in 2024 will be on consolidation and innovation, according to the senior leadership. With emerging technologies driving consumer changes, the goal for them is to harness growth through new opportunities as well as strengthen current media client roster successes that include accounts such as Protean, the Indian National Congress and General Mills. Even on the creative side of the business, McCann, Lintas and FCB will continue to let their work speak louder for brands such as Air India, Ikea, Mondelez, HP, TVS Motor Company and the most recent being the Bharatiya Janata Party (BJP). The accolades and applause showered in the past year signal bright days for the overall group and an impactful 2024. "Our work is deeply rooted in audience and brand backward thinking. Hence, media choices reflect the changing media consumption for a particular audience by market and category" VAISHALI VERMA, CEO, Initiative India play in India through us.” IPG & FCB Group’s acquisition of a majority stake in Kinnect in 2023 is another feather to its coveted cap, heralding a new era of unparalleled digital capabilities. Under the rebranded name of ‘FCBKinnect’, more than 1200 seasoned advertising and marketing experts provide all-encompassing solutions across the entire media spectrum. At the Indian level, IPG Mediabrands is building a centre of excellence in Pune to better serve brands from around the globe, housing about 3,000 experts in three years that will proffer analytical solutions to them. Mastering Media For IPG Mediabrands, media responsibility is at the forefront of everything they do. Sinha finds the company’s strength in Interactive Avenues, the largest digital advertising company. “It is different from other key agency groups since it is end-toend – from media, search, content, programmatic, ecommerce – you name it and we do it. It offers a full range of digital services, works closely with media agencies and unlike others, has a large client base of its own,” he mentions. Ever since the acquisition of Interactive Avenues in 2013, it has grown tenfold. The reason is that two of the founders continue to lead the company despite the earnout being over long ago, informs Sinha. Going strong for the company is Initiative, with India CEO Vaishali Verma emphasising audience and brand-focused work, tailoring media choices to evolving consumption patterns. Specialised units focus on forecasting future trends. Meanwhile, LodestarUM, led by India CEO Aditi Mishra, prioritises balancing brand heritage and innovation, crafting solutions for client success. IPG Mediabrands India believes in the power of one and brings a strong strategic focus to streamline multiple touchpoint brand solutions as a single story. "The focus at our end is always client-first. Being in the service industry, our solutions are crafted to drive client success and what we structure or innovate is always to drive growth for the client" ADITI MISHRA, CEO, Lodestar India
72 | B W BUSINESSWORLD | 04 May 2024 CREATIVITY + TECH + INNOVATION PUBLICIS GROUPE India has batted a thousand in the past two years, crediting key leadership appointments, winning new businesses, growth in client roster, industry awards and recognitions. Despite clear headwinds in 2023, it saw another year of strong double-digit growth on the back of tailwinds in 2022 and provided fruitful solutions to brands such as P&G Digital Media, Ikea, Audi, AU Bank, ABI and Mondelez Production, among others. The company also saw expansion in its existing key accounts, such as Nestlé, Hero, HDFC Bank, Airtel, Haleon, PepsiCo and Axis Bank, whose presence, power and profits continued to speak loudest. The sharpening of Groupe’s services across commerce, creative tech, performance marketing, content, production, experiential and shopper marketing saw a good uptake of its services and drove business results for most of the brands. “We again invested very heavily in L&D with sharp attention to specialist capabilities for the connected world. Our focus remains on client-centricity and being future-ready. Through the right components of data, technology and automation, we are bringing in scalable solutions for clients. Last but not least, we are embracing the AI-fication of our operations,” informs Publicis Groupe South Asia CEO, Anupriya Acharya. Technology Tales One of Publicis’ global updates revealed that it is putting AI at its core, to become the industry’s first intelligent system. Through three strategic bets—putting data and technology at the centre with the acquisition of Sapient and Epsilon, implementing a country model and building a single operational backbone—it shifted from a holding company to a platform. Concretely, Publicis infused a layer of AI across its platform organisation to connect its enterprise knowledge under one entity: CoreAI. At India level, to ensure a company-wide culture of innovation, the Groupe introduced ‘Hack To The Future’, an initiative that tapped into cutting-edge creativity, fostered innovation and explored new ideas, all with a focus on artificial intelligence. Speaking on the role of emerging technologies, like AI and VR, Acharya feels that a lot of these technologies are here to stay and will impact knowledge workers the most. She also believes that while it is an advantage, a lot depends on how one harnesses it. “So, apart from doing some very interesting solutions like Say It With Oreo, PepsiCo Smart Farms, Airtel 5G launch and Nissan’s innovative AI-powered Roar campaign, where we have used Gen AI to solve business problems, we are also looking to disrupt ourselves through technology,” Acharya emphasises. Beefing Up Brand Experiences For any brand to sweep the board today, it has become imperative for them and their agency partners to create an unforgettable brand experience that tells compelling stories, resonates with audiences and showcases brand values, perDriven By Creativity, Powered By AI Publicis Groupe India finds strength in its strong capabilities, where its recent wins, acquisitions, business numbers, brand success stories and industry honours avow its true power in the ecosystem By Soumya Sehgal IN FOCUS PUBLICIS GROUPE
04 May 2024 | B W BUSINESSWORLD | 73 sonality and purpose. With the role of brand experience becoming more important than ever, an inert effort to deliver positive experiences, facilitate deeper connections, inspire audiences and ultimately deliver results, has become the top priority. With this, the pressing issue of balancing a brand’s heritage and innovating for the future in its branding strategies has emerged as an essential focus area. To battle this, Acharya explains, “There is no one-size-fits-all. The important thing for brands is to establish enduring relationships with consumers across the passage of time and in an ever-changing environment. Our strategies are specific to the brand, the cultural context and the task at hand. And we invest heavily in acquiring and training our talent in this craft.” Acharya emphasises cohesive brand experiences across touchpoints. The Power of One model leverages data, research and technology for consistent, relevant consumer messaging. Looking Ahead In 2024, Publicis Groupe India will continue to build on its strong foundation of future-facing capabilities and invest further in areas that can benefit brands in their growth agenda. Capabilities like performance marketing, ecommerce, agile personalised content, micro-marketing, etc. will stand central to its focus. Further, with India standing strong in its growth potential and being a top priority for global brands, Publicis Groupe India aims to work closely with them and partner in their growth journeys. “We are happy to see more and more clients selecting us for their mandates. We are outperforming our industry peers and recently, Spotify globally entrusted its media business to us. Across our agencies, we have won Reckitt, SBI, Birla Opus, etc. in Q1 2024. We are also on the verge of announcing a whale win in the health and hygiene category,” claims Acharya. “We again invested very heavily in L&D with sharp attention to specialist capabilities for the connected world. Our focus remains on clientcentricity and being future-ready. Through the right components of data, technology, and automation, we are bringing in scalable solutions for clients. Last but not least, we are embracing the AI-fication of our operations” ANUPRIYA ACHARYA, South Asia CEO, Publicis Groupe
74 | B W BUSINESSWORLD | 04 May 2024 SPOTLIGHT CREATIVITY CREATIVITY + TECH + INNOVATION representation, Leo Burnett aims to create impactful work via inclusive storytelling. Data: The New Star In the era of data-driven marketing, he praises the transformative power of insights extracted from data analytics. “Data is the new insight,” he proclaims, enabling agencies to gain deeper insights into consumer behaviour and market trends. From addressing issues like female hygiene in schools with ‘Whisper’ to empowering female farmers for ‘Lays’, data serves as the guiding light for the company’s creative efforts. Describing the relationship between data and creativity, Das asserts, “Data is the best thing that could happen to us now. It is the best friend a creative can have.” Tech Elevates Experiences The convergence of technology and creativity exhibits a new frontier in advertising, one where immersive experiences and personalised interactions have the utmost importance. “Technology augments, but it cannot replace human interaction,” he asserts, highlighting the need for a balanced approach to utilising technology to foster human experiences.Das embraces the potential of generative AI and immersive technologies stating, “Generative AI is giving us a great platform to do things that we were never able to do before. It helps to move us faster, smarter and having more fun with it; saving us time from not spending time with a lot of wrong things.” Looking ahead to 2024, Das emphasises the significance of balancing top-line growth with bottom-line profitability. “For us, it’s about marrying top-line creativity with bottom-line results,” he affirms. By focusing on delivering exceptional brand-building solutions for clients while ensuring profitability, Leo Burnett aims to drive tangible business results. “Technology augments, but it cannot replace human interaction” RAJDEEPAK DAS, CCO, Publicis Groupe, South Asia and Chairman, Leo Burnett, South Asia The Indian Creative Renaissance RAJDEEPAK DAS, Publicis Groupe’s CCO for South Asia and Leo Burnett’s South Asia Chairman, sees data as creativity’s indispensable ally By Reema Bhaduri T HE CREATIVE industry has always been at the forefront of making impactful changes that improve people’s lives. It has empowered brands to reach consumers in a way that leaves a long-lasting impression on their minds. Resonating along the same lines, Rajdeepak Das, CCO, Publicis Groupe, South Asia and Chairman, Leo Burnett, South Asia, says, “The creative industry is going to impact billion people’s lives for good. And it’s not just storytelling, we have so much potential to unleash with so many different weapons.” A Mindset, Not Just A Slogan Reflecting on the past year, Das acknowledges Leo Burnett’s foresight in identifying emerging sectors. “We visualised in advance that while some markets were going down, other sectors were coming up and we got into inviting those plans to capitalise on the growth opportunities,” he remarks, highlighting the importance of proactive planning in navigating market fluctuations. Addressing the need for diversity and inclusion within the creative process, Das asserts, “It’s the mindset that we need to acquire and we need to live by every single day without using it as a big brand slogan.” Through collaboration and diverse
PRESENTED BY fifffflffiflffifflflfffl fifffflffifl fffffl The of NURTURING LIVES, INSPIRING HAPPINESS U N D E R fifffflffiflffl fifffflffiflfflff SUMMIT & AWARDS ffffflff ffffflff flffi ASSOCIATE PARTNER EVENT PARTNERS Dr. Kiran Bedi IPS ( Redt) Former Lieutenant Governor of Puducherry Founder, India Vision Foundation & Navjyoti India Foundation Claudia Ciesla Nutritionist, Lifestyle Coach, Author & Founder, Claudia’s Concept Chef Suvir Saran Culinary Director, Bastian Hospitality Group, Owner, American Masala & Author Chef Saransh Goila Co-Founder, Goila Butter Chicken & Author Dr Annurag Batra Chairman & Editor-in-Chief, BW Businessworld & Founder, exchange4media Samir Soni Actor, Director & Author Ayesha Billimoria Athlete, Athletics coach, Founder - Athletics Lab & Project Fitgirl Ashdin Doctor Habit Coach Bhavesh Bhimanathani Vedic Philosophy Educator Yasmin Karachiwala Founder & Director, YKBI (Yasmin Karachiwala Body Image) Celebrity Master Pilates Instructor Sidhharrth S Kumaar Founder, NumroVani Harun Robert aka Rob Multi-disciplinary Visual Artist & Designer Shibani Kashyap Singer, Composer & Live Performer Devdutt Pattanaik Culture Expert Shonali Sabherwal Macrobiotic Nutritionist, Chef, Author Kunal Vijayakar YouTuber, Food Writer, TV Personality & Co Founder, Khaane Mein Kya Hai Santanu Hazarika Art Maverick and Visual Artist Sameer Malkani Director & Co Founder, FBAI 15th May 2024 St. Regis, Mumbai
76 | B W BUSINESSWORLD | 04 May 2024 COVER INTERVIEW Omnicom, counted among the largest holding companies in the world, is upping its India game with a re-energised strategy that aims to bring the strength of the collective and of its individual brands. The company’s global CEO, John Wren speaks with Noor Fathima Warsia about the 2024 outlook and India plans in this exclusive interview. Excerpts: CREATIVITY + TECH + INNOVATION I had the chance to speak with some of your Omnicom India colleagues and the general sentiment is about cautious optimism. How are you seeing the year ahead for the industry? The market sentiment is cautious, and that, as far as I know, is not because people are afraid but because they want flexibility. I think historically, the smartest marketers know that they have to continue to push the brand. Because if they stop, they will be investing much more to just get back to where they were and someone might have displaced them already. For us, we call it as we see it. The business is in great shape. There is always something to do, the portfolio has never been in better form in the last decade. We are the legitimate first mover in the Generative AI (artificial intelligence) space with what we have done with Amazon, Microsoft, Google and the like. Everyone claims to have been engaged and invested in AI but what was being done was not nearly as advanced as the version we are working with. We are already seeing Gen AI’s impact on the world and our industry and in the next cou- “We are dedicated to accelerating our India plans” OMNICOM
04 May 2024 | B W BUSINESSWORLD | 77 we have not shown up before, which is as Omnicom and not individual brands. This commitment was never there before but this will go into accelerating our plans for India. Can you please elaborate on what you mean by ‘campus’? How do you see this augmenting Omnicom’s overall performance? Today, we have over 4,000 people in India in Global Centers of Excellence in four major cities (Bangalore, Hyderabad, Chennai and Gurgaon) supporting our clients around the world. Our teams support services offered by all our practice areas from media to precision marketing, creative services, PR to health. We are rapidly scaling and expect to triple these capabilities over the next 18 to 36 months. Our India operations are helping our company transform from within, improving our client offerings and providing operating efficiencies. The Global Centers of Excellence will be further strengthened this year through newly-built, state-of-the-art office locations that will provide bestin-class environments for our talent. At present, only IPG and Omnicom in India do not have a company-level head. Have you considered appointing an Omnicom Country Head/ CEO in India at any point? With the formation of OAS India and with the leadership teams we have in place in media, PR and our Centers of Excellence in India, we are extremely well positioned in the market. Tell our readers more about what is next for you, and any lessons that are shaping your decisions... As a rule, I live in the present and the future, I do not dwell on anything that has already happened. I am pushing tomorrow’s agenda and India is a vitally important growth engine for Omnicom. ple of years, there will be very clear winners and laggards in this space. Many holding companies are right now investing in AI. Especially given the pace of change, how much do you think the first-mover advantage that you have with Omni, and now Omni 3.0, works? It is true that it does not take long before others catch up, but the difference is that Omni was born in our system, and is an underlying part of our media, creative, PR, digital and ecommerce business; it is not a foreign entity. It is nearly six years old and over 40,000 people are provisioned with Omni. We are prepared to invest whatever it takes to make the ‘knowledge’ workers more productive because they can get their hands on the data they need, in the form they need, so they can generate great ideas and execute them brilliantly. It also helps eliminate waste, which saves client’s money and makes our people happy.All the major investments we are making with Omni 3.0, which is Omnicom’s operating platform, are in line with this. Let’s talk about India. Many changes have happened in the last year such as Omnicom Advertising Services (OAS). What was the objective behind that? OAS India will be able to offer the best creative capabilities and talent for our clients from across the group. It will attract, retain and develop the best talent in India. It will bring together integrated services tailored to client needs and foster greater collaboration across teams. It will also drive more innovation and develop new and better offerings and solutions. Finally, it will accelerate our growth and operating efficiency. Are India operations delivering in line with your expectations? India is the largest emerging market and is more friendly and positive from a business standpoint to make investments. We changed our strategy for India last year with greater collaboration between our media and advertising functions. The plan is to put this on steroids and empower people to reach out to Indian businesses and present the depth of the capabilities that we have. We are also building delivery systems that will service globally.When we purchased Mudra, the Mudra Institute of Communications, Ahmedabad (MICA), also came into our fold. MICA, and generally, learning & talent development, is part of our heritage but we have ignored claiming credit for that. This is something we are correcting. Many of our competitors and even our colleagues have been educated in MICA. In India, we have also invested in campuses that give us a presence in a few key cities, in a way that MICA, and generally, learning & talent development, is part of our heritage but we have ignored claiming credit for that
78 | B W BUSINESSWORLD | 04 May 2024 IN FOCUS Info graphics by Rahul Roy OMNICOM MEDIA GROUP CREATIVITY + TECH + INNOVATION KARTIK SHARMA, CEO of Omnicom Media Group (OMG) India, couldn’t be happier with the agency’s impressive double-digit billings growth in the previous fiscal year (2023-24). According to Tofler, OMG India’s operating revenue range is Rs 100-500 crore for the fiscal year ending March 31, 2023. Its EBITDA increased by 34.77 per cent from the previous year. At the same time, its book net worth increased by 33.77 per cent. A Year of Momentum Despite the agency’s achievements, Sharma believes there is still room for improvement and opportunities for growth in the upcoming year. “I would say it was a year of momentum for us from an overall perspective, and which was extremely satisfying.” Firstly, the agency continues to invest heavily in its marketing platform, Omni and reap the benefits of that. “Omni helps us to work on our global philosophy of Agency as a Platform. It is our data orchestration system - that brings together clients, agencies and all partners together onto one platform,” says Sharma. Secondly, Sharma is thrilled about ‘Talent Always Wins’ KARTIK SHARMA, CEO, Omnicom Media Group India says that the coming year will bring growth, albeit with a hint of caution due to global economic uncertainties. Despite this, the company remains committed to its 2024 growth plans and areas of focus By Neha Kalra
04 May 2024 | B W BUSINESSWORLD | 79 lem, the team developed The Happy Bag, a unique and innovative school bag crafted from upcycled materials sourced from McDonald’s billboards, signage and displays. The initiative’s outcome was highly successful, with 10,000 upcycled school bags distributed to children between the ages of 5 and 18. Focus Areas For 2024 Sharma emphasised that OMG India remains committed to prioritising client needs and investing in both skills and leadership training for its team members. While the agency already has a strong content practice in place, Sharma reiterates that it wants to build on its recently launched sports practice as India is growing as a sporting nation. Sharma appears cautiously optimistic about 2024. “Sentiments drive many businesses. So, I would say the sentiment towards India is positive, but also cautious. Impending, ongoing and more wars are likely to occur. The geopolitical situation is mixed. There are worries about job security, among other things. India does not face some of these issues. We should keep investing in what we are doing and we should all be fine,” he adds. the new business wins, including prestigious clients such as Chanel, Jaguar Land Rover, Sugar Cosmetics, McDonald’s India North and East, Oppo, Royal Enfield, Brillon (formerly S.C. Johnson), Grupo Bimbo, Sandisk, Mehta Multispecialty, Groww and Scapia Technology. Additionally, the agency successfully retained the HSBC and Nivea India accounts. Thirdly, OMG India prioritises investing significantly in its people and their success. Sharma says, “We believe that talent always wins.” The agency continues to invest in training and from a leadership perspective too, it takes up one-on-one coaching for senior leaders and has programmes around empathetic listening. Along with keeping them engaged through various programmes, outside of training, we also look at doing things around developing mental health.” The Not-So-Ominous Omni One of OMG India’s biggest announcements last year was the launch of Omni, a cutting-edge data and marketing orchestration platform. “It improves efficiency and effectiveness by creating an environment where you can leverage the same data across workflow, insights, planning, activation, reporting, attribution and optimisation,” says Sharma. Omni’s robust infrastructure allows brands to enhance investments with next-gen APIs, working with external and native assets. This enables agencies like OMD, PHD and Hearts & Science to deliver more impactful consumer and client experiences. The 2022 Forrester Wave: Global Media Management Services report highlighted OMG’s innovation in its Omni portal, featuring customised workflows, audience data integrations, Google partnerships and unified media and e-commerce strategies. Shining Through Cracks Quoting the instances of two of its clients, Škoda Auto India and McDonald’s, Sharma sheds light on the work done by OMG India that made a difference. In the rural Kolavadai, Maharashtra, residents faced significant challenges due to lack of connectivity, impacting their access to essential services such as education, healthcare and overall quality of life. To address this issue, PHD India devised a unique solution in collaboration with Škoda, the Public Welfare Department and Keshav Sita Trust. Škoda encouraged customers to collect single-use plastic during their travels and drop it off at Škoda dealerships. The collected plastic waste was then recycled into construction bricks, which were used to improve infrastructure in India’s rural areas, including Kolavadai. The campaign transformed 2.5 tonnes of discarded plastic into a vital 2.5 km road in Kolavadai district, marking a significant step in this story of environmental transformation. In an effort to address the plastic waste issue, OMD collaborated with McDonald’s, targeting a less-recognised source of plastic pollution: billboard vinyl. To tackle this probOne of OMG India’s biggest announcements last year was the launch of Omni, a cutting-edge data and marketing orchestration platform
80 | B W BUSINESSWORLD | 04 May 2024 CREATIVITY + TECH + INNOVATION MARKED by weighty acquisitions, thick business numbers, key account wins and expanded roles, 2023 was a pivotal year for Havas India. While Rana Barua’s elevation to Group CEO of Southeast Asia and North Asia signalled the network’s robust growth plan, it continues to swell in its capacity by refining its product offerings, prioritising brand studies and positioning itself as a reliable communications network in the country. Housing 21 agencies and specialised divisions under it currently, the uniqueness of Havas’ integrated village model has helped the network cement strong relationships and maintain stabilised growth. Establishing A Solid Fundament The network spent the last six years vitalising its product and becoming the centre of excellence. With an average growth of 30 per cent year-on-year, it is now progressing towards becoming the centre of performance. “Over the last six years, we have diligently strengthened our advertising network in India. Now, our focus shifts towards maximising our product’s performance through significant business wins, securing prestigious global and local awards and driving growth through seamless integration,” says Rana Barua, Group CEO, Havas India, SEA, North Asia (Japan and South Korea). To further this, Havas India has instituted ‘Creative and Strategy Councils’ in the country. These councils collaborate closely with Havas India’s leadership teams, ensuring the delivery of results both in terms of growth and work. “We are strategically positioning ourselves as the hub of performance and this shift underscores our commitment to excellence and sets the stage for continued success in the competitive landscape,” adds Barua. New Trends The Havas India ecosystem has grown on the back of incisive thought leadership that maps future trends and helps brands exhibit greater presence and profits through new-age solutions. Over the years, the network has introduced agencies and expertise using a data-driven approach that uncovers actionable insights across the media, creative, and health sectors. The network not only tracks current trends but also has a deep insight into future shifts in consumer behaviour, exemplified by reports such as Meaningful Brands, X Index, Prosumer Report, and Hi-Cricket. To substantiate, Havas India’s recent launch of the ‘Citizen Brands’ report helped them identify market gaps, future trends and client expectations. Crediting this report, they grew from three to 21 agencies and diversified their services. Innovation, Design, Tech Innovation is the name of the game in a space as dynamic as advertising. Spurring things on are the myriad tech advancements that seemingly mutate and evolve overnight. Over the years, Havas India has built an arsenal of expertise that complements rather than competes against each other. Since last year, it has added noFrom Pivot To Profit Havas India has been making news and only for the right reasons. The network reported key elevations, acquisitions and collaborations in the past years, buttressing its overall business goals and numbers By Soumya Sehgal The Havas India ecosystem has grown on the back of incisive thought leadership that maps future trends and helps brands exhibit greater presence and profits through new-age solutions. Over the years, the network has introduced agencies and expertise using a data-driven approach that uncovers actionable insights across the media, creative, and health sectors. IN FOCUS HAVAS
04 May 2024 | B W BUSINESSWORLD | 81 pany, Nestle, Tata Cliq, among others. On the technology side, ‘Test-LearnOptimise’ is their core belief. To facilitate measurement, learning, and scaling, the network aims to conduct experiments and thought leadership initiatives throughout the year to better understand what strategies work best for the brands. This approach also enhances accountability for the marketing funds they invest on behalf of these brands. Havas is also embracing AI in partnership with Adobe to improve their content workflows, where its agencies can harness Adobe’s generative AI for more efficient content creation and delivery, ensuring personalised customer experiences. Havas India’s global footmark indicates the prudence and farsightedness of its leadership team, making it one of the top 10 markets in the Havas global ecosystem. The next few years for Havas India look equally promising, with plenty of collaborations on the cards. table industry leaders like PivotRoots (integrated digital) and PR Pundit (public relations) to Havas India, along with global launches of highly specialised communications expertise like Havas Play (sports, entertainment and content), Havas People (employer branding and talent communications), and Prose on Pixels (content-at-scale). They also entered into strategic collaborations with influencer tech stack KlugKlug and sports marketing firm, Gameplan. When Barua took charge of Havas India in 2018, his mandate was clear - to build the Havas India ecosystem and strengthen the product by identifying crucial opportunities in the market. To enhance its design capabilities, Havas acquired Think Design (2018) and Conran Design Group Mumbai (2021), which made its design offering incredibly strong, servicing brands such as The Coca-Cola Com- "Over the last six years, we have diligently strengthened our advertising network in India. Now, our focus shifts towards maximising our product's performance through significant business wins, securing prestigious global and local awards and driving growth through seamless integration" RANA BARUA, Group CEO, Havas India, SEA, North Asia (Japan and South Korea)
82 | B W BUSINESSWORLD | 04 May 2024 CREATIVITY + TECH + INNOVATION T HE year 2023 was marked by shifts and challenges in the marketing and advertising industry. In a reflection on the challenges and triumphs, Harsha Razdan, CEO of dentsu South Asia underscores the resilience demonstrated by the company, navigating diverse sectoral growth patterns amidst a year marked by trials and opportunities. At the helm of the organisation, Razdan recollects on the turbulent yet transformative year. Highlighting the role of stabilising the agency emotionally, he remarks, “My job was to stabilise dentsu and at the same time, give confidence to the clients that the ship is under control and we are looking to propel it forward with larger pace.” Aggressive Positioning The company went through a mixed performance throughout the year, with an initial momentum followed by a slowdown in the latter half of 2023. Despite these challenges, dentsu entered 2024 with renewed vigour. Central to dentsu’s strategy for 2024 is its aggressive positioning at the intersection of marketing, technology and consulting. On the resilience and strategic foresight of the company, he asserts, “We are well on our track and looking forward with super affordability.” Citing client acquisitions, Razdan exudes confidence in dentsu’s forward momentum. dentsu is calling out two big levers for its positioning, one being a business-to-business-to-society (B2B2S) firm, focussing on societal impact and the second being a people-centred transformation company. Power Of Data Embracing the transformative power of data and analytics, dentsu redefined its marketing strategies, transcending traditional paradigms. “Data and analytics help us gauge and look at the direction that we’re moving in and finetune our approach. With a fragmenting media landscape and shortening of consumer attention spans, data is helping us ensure on what the client is asking us”, Razdan explains. Addressing the age-old dichotomy between data-driven insights and creative storytelling, Razdan elucidated on the symbiotic relationship between the two noting, “It’s like a virtual circle, which is the way I see creative and data A Renewed Vigour & Vision With a recharged mindset, dentsu South Asia advocates collaboration among creative agencies, brands, AI and tech for the best output under CEO Harsha Razdan’s leadership By Reema Bhaduri I n the realm of media evolution and digital transformation, Anita Kotwani, CEO Media, South Asia at dentsu highlights India’s advancement over other developing nations, underlining the role of digital progress in shaping consumer trends. Kotwani emphasises the significant shift in consumer behaviour, with digital platforms taking the lead in reshaping the media landscape. Underlining the symbiotic relationship between media and evolving consumer behaviours, Kotwani remarks, “The mobile-first screen is becoming the calling card for most consumers.” She stresses the future of media, driven by personalised content and technological integration to boost consumer engagement and ROI. Looking ahead, Kotwani outlines dentsu’s focus on expanding services into gaming, branded content, influencer marketing, tech-led retail solutions, sports and partnerships. “We aim to go beyond media and creating creative,” she concludes, affirming the organisation’s commitment to innovation and integration. BULLISH ON AI ANITA KOTWANI, CEO Media, South Asia at dentsu on why media companies are focussing on AI IN FOCUS DENTSU
04 May 2024 | B W BUSINESSWORLD | 83 er, I believe that AI is here for us to play”, he adds. In light of the increasing importance of customer experience, Razdan sheds light on the role of technology in creating seamless interactions. “The consumer journey is complex, much more complex than before”, he asserts. He emphasises the need for agencies to embrace AI and leverage data to personalise interactions and adapt to evolving consumer preferences. “It is best that we evolve ourselves as a company and leverage AI and become the next generation kid in town”, Razdan notes. Relations In The Age Of Gen AI Reflecting on the evolving dynamics between brands and agencies with the advent of Gen AI, Razdan believes, “The more agencies adopt AI and use it as a way to become smarter in strategy, implementation, giving feedback and tuning the strategy.” He dismisses the notions of adversarial relationships, instead advocating for collaboration and adaptation to technological advancements. “It’s about all of us coming together - creative agencies, brands, AI in the data and tech - to provide the best output for our clients and consumers,” Razdan concludes. playing out.” From a team perspective, he states, “The creative team wants us to rely on the data as an information source which can process to understand the strategy that one can adopt to make the brand whereas from a tech perspective, we get into implementation and when it comes to implementation, it is multiple media in which you want multiple ways to engage with customers and customising their experiences.” Embracing AI Delving into the realm of emerging technologies such as Artificial Intelligence (AI), Augmented Reality (AR) and Virtual Reality (VR), Razdan affirms, “AI and the new tech areas coming around are more to help us become better”. He underscores their role in improving efficiency, customising storytelling and delivering impactful solutions to clients. “With the power of tech and creativity togeth- “My job was to stabilise dentsu and at the same time, give confidence to the clients that the ship is under control and we are looking to propel it forward with larger pace” HARSHA RAZDAN, CEO, dentsu South Asia
84 | B W BUSINESSWORLD | 04 May 2024 IN FOCUS MADISON CREATIVITY + TECH + INNOVATION Shaping Tomorrow’s Marketing Today A look at how India’s largest independent agency is holding its own in a space dominated by global names By Neha Kalra “If I look at India’s AdEx, we are 40 per cent digital. Madison is also 40 per cent digital. On the Indian AdEx, if you take the top 50 advertisers they spend 60 per cent of their advertising budget on TV. So you could say we are over-indexed on TV” SAM BALSARA, Chairman, Madison MADISON was established i n 1 9 8 8 and has since expanded its presence into the creative, media, PR and sports sectors with Sam Balsara serving as Chairman and Lara Balsara Vajifdar as Executive Director. For almost a decade, Vikram Sakhuja has been leading Madison Media & OOH as Group CEO. By 2023-2024, the company had grown to support nearly 500 clients and employ a staff of 1,300, with 650 dedicated to digital services. In an interview with BW Marketing World, Madison’s leadership emphasised the company’s position as one of India’s top independent agency networks.
04 May 2024 | B W BUSINESSWORLD | 85 Lara describes the new branding as “minimal, yet powerful; modern, yet timeless; sharp, yet approachable.” “Some of the words we want the new identity to reflect are sharp, bold, confident, modern, minimalist and futuristic. And this is how we want all Madisonites to think,” she adds. 2023: The Best Year Sam mentions 2023 as their best year since Covid. “We have been looking at all media holistically and selecting the media mix that is best suited to the brand’s needs. We have also prioritised skill development for our employees. Both will continue. In line with the environment, our digital billings in terms of percentage to total billings and absolute terms have been growing.” Indian Media Metrics Evolution Sakhuja values his fortunate position as head of Industry Tech Communications for IRS Print, BARC TV, and ABC Digital, given his research and media background. “There are effective governance mechanisms and leadership in place to encourage participation from industry stakeholders such as advertisers, media owners, and agencies. There is a lack of consistency in Digital Comes A Calling Regarding digital efforts, Sam states that India’s AdEx is currently at 40 per cent digital, and Madison mirrors this figure. He acknowledges that the top 50 advertisers in India allocate 60 per cent of their ad budget to TV, indicating that Madison is over-indexed in TV advertising. “Madison Creative has evolved into Madison Loop, which has proven to be successful,” says Sam. Lara says that 40 per cent of Madison’s revenue is generated from digital sources, and 47 of the agency’s employees work in digital services. “Several automation initiatives are underway and Madison has recruited from prestigious IIMs this year. Instead of cost-cutting, the company is investing in its future.” Sam emphasises the importance of staying informed about new technologies, including AR and VR, stating that Madison keeps a close watch on the market and uses AI-enabled digital tools. However, he stresses the need to maintain a balance and avoid discarding valuable resources. Vikram Sakhuja, recognised for his digital focus, says that Madison Media adapts its approach based on consumer behaviour. He says, “I follow the consumer and find the appropriate use for each medium. In Madison, we don’t chase every shiny object. For example, we experimented with Metaverse but have yet to unlock its true value. AI, on the other hand, can help us target and optimise more effectively, as well as drive better attribution, which is ultimately the holy grail of media planning.” New Logo: Futuristic Madison recently updated its logo after more than 30 years. The new identity captures the group’s evolution and growth over time, as well as its future vision; it also maintains some of the core values of client focus and integrity. Lara, who became Executive Director in 2004, highlights the company’s continuous evolution. She asserts that the new brand identity reflects the significant changes within the organisation. “I follow the consumer and find the use for every medium, accordingly. In Madison we don’t chase every shiny object. AI on the other hand can help us target and optimise better and drive better attribution which ultimately is the holy grail of media planning” VIKRAM SAKHUJA, Group CEO, Madison Media & OOH
86 | B W BUSINESSWORLD | 04 May 2024 “The Mediacom association with WPP was very fruitful and rewarding for both parties. We exited to pave the way for the merger of Essence and MediaCom in India that we believe was in the interest of P&G, our first client in media” LARA BALSARA VAJIFDAR, Executive Director, Madison Analytics, and Digital; and Seven + was a KPI setting tool that I learned early in my agency career that captures KPIs under Hunter, Farmer, Entrepreneur, Scholar, Artist, Hero, and Parent. I have stayed true to this core thinking.” The WPP saga Madison’s 15-year relationship with WPP came to an end when they divested from MediaCom in 2022. Lara recalls, “The Mediacom partnership with WPP was extremely beneficial and rewarding for both parties. We exited to allow for the merger of Essence and MediaCom in India, which we believe was in the interest of P&G, our first media client.” Womanprenuer After two decades of managing Madison as her father’s business, Lara has gained valuable experience as a woman in the Indian advertising industry and as an entrepreneur. She adds, “Madison is a professional services organisation and a meritocracy, not a family-run business. “Being in advertising is just as difficult for women as it is for men. I don’t notice any difference based on gender. A position is filled based on the individual’s ability, not because he or she is male or female or because we need to meet some diversity criteria. Unlike other industries such as manufacturing and automobiles, there are many women in senior positions in the advertising industry, and I would like to believe that this situation is solely based on performance,” she says. In Lara’s words, which apply regardless of gender, “Entrepreneurship has its own set of rewards and challenges.” studies such as IRS, crossmedia measurement, and third-party digital measurement. These ills can be eliminated if the advertiser takes control of these studies and funds them. Currently, allowing media owners to fund the majority of these studies makes them vulnerable to their agendas, which can harm their investment decisions.” Traditional vs Innovation Sam emphasises the importance of data. “With so many consumer touchpoints, it is critical to collect and utilise all available data. “Now it’s 90 per cent data and 10 per cent belief.” Madison recognises and integrates new trends, but it proceeds with caution. “We use them as an experiment to ensure that they meet our and our clients’ high standards. We are cautious about implementing new gizmos and ideas because it is easy to get carried away and waste our clients’ money,” says Sam. Knitting With Cohesion Madison Group has several units that specialise in different areas, allowing them to provide clients with a variety of solutions. “At the same time, we have large integrated teams that work with large clients and deliver a unified solution across multiple platforms. Sam says, “This works best for our clients.” When Sakhuja arrived nine years ago, he discussed a strategy called 007 - Outcomes, One Madison, and Seven +. “Outcomes was an orientation of how we impact a client’s business; One Madison was to strengthen the Agency Central Practice Pillars of Buying, PlanningCREATIVITY + TECH + INNOVATION IN FOCUS MADISON
2024 fifffflffifl 5th Edition fifffflfflffiflfi fifffflffifl fififf fiff V. Sunil Design Thinker, Brand Architect, Co-Founder, Motherland, Founding Trustee, Kochi Biennale Foundation Srini Srinivasan Chairman & CEO, Lumium Design. Senator, World Design Organization (WDO) Lulu Raghavan VP, APAC and MD India, Landor Prof. Pradyumna Vyas President-elect, World Design Organization (WDO) and Former Director, National Institute of Design Rahul Vohra Actor, Director & Producer Reza Kabul President, ARK Reza Kabul Architects Janine Wunder Consultant Business Strategy and Awards, Germany. Former VP Awards & VP Communication & Marketing, German Design Council. Ajay Jain Head of India Studio & Global Design Strategy Tata Motors Design Sarika Shetty Partner , SJK Architects Siddhant Chaturvedi Actor and Youth Icon Rahul Mistri Principal Designer, Open Atelier Nandita Abraham CEO and Interim Dean, BITS Design School ffi ffi ffffi fiffffi ffi ffi fi ffi ffiffiffi
88 | B W BUSINESSWORLD | 04 May 2024 INTERVIEW Home-grown ad agency Vermmillion is making waves in creative excellence and global impact. Its Managing Director, DEEPAK HIREMATH, highlights the agency’s strategic prowess and unwavering commitment to excellence, delivering work that speaks By Team BW CREATIVITY + TECH + INNOVATION “We Preserve A Brand’s Legacy” As India becomes digital-first, how has Vermmillion adapted its approach to branding and design to keep pace with changing consumers? In the ever-evolving landscape of marketing, Vermmillion understands that despite changes in strategies and the rise of digital platforms, consumer priorities remain steadfast. We are strategically incorporating the latest technologies, including artificial intelligence (AI), into our branding and design processes. This integration allows us to stay ahead of the curve, ensuring that our solutions are not only innovative but also highly relevant to the evolving digital landscape. Additionally, our 360-degree coverage is what assures our clients that their brands remain thoroughly visible and engaging to their target audience. How are home-grown agencies like Vermmillion delivering creative solutions that resonate with global audiences? We take immense pride in our ability to stand toe-to-toe with industry behemoths and make our mark on the global scene. By focusing on themes that evoke empathy, authenticity and relatability, Vermmillion helps brands forge connections that transcend linguistic and cultural barriers. Whether it’s through storytelling, humour or emotional resonance, the key lies in understanding the universal threads that bind us all and weaving them into a narrative that speaks to the collective human experience. In doing so, we help brands Vermmillion Communication
04 May 2024 | B W BUSINESSWORLD | 89 just a matter of skilfully adapting them to resonate with modern audiences. As an agency dedicated to helping brands navigate the complexities of modern consumerism, we understand that the key to longevity lies in uncovering the timeless essence of a brand’s story. We specialise in identifying the core aspects that have anchored brands throughout history and translating them into narratives that resonate with contemporary audiences. Our approach blends reverence for tradition with a keen eye for innovation, ensuring that brands can honour their roots while embracing the opportunities of the present. Through strategic storytelling, creative reimagining and thoughtful execution, we help brands forge enduring connections with consumers, navigating the ever-evolving landscape of consumer preferences and behaviours with confidence and authenticity. We have a meticulous and strategic approach to balancing a brand’s heritage with the rapidly evolving future. develop the power to foster meaningful connections, drive engagement and inspire action on a global scale. Our quest to deeply understand the diverse cultural nuances paired with international design principles lies at the heart of our ‘home-grown agency status’ working to communicate with wide, global audiences, transcending geographical boundaries. We aim to deliver adaptable creative solutions with universal appeal. Vermmillion’s client roster is extensive. How does the agency balance maintaining a brand’s heritage and innovating for the future in its branding strategies? Brands that have withstood the test of time possess a narrative that resonates deeply with consumers, as their identity is anchored in a timeless story of relevance and authenticity. Behind every enduring brand heritage lies a set of core values, traditions and founding principles that connect with people on a visceral level, transcending fleeting trends and fads. Once you recognise these foundational elements, then it’s
90 | B W BUSINESSWORLD | 04 May 2024 CREATIVITY + TECH + INNOVATION Preserving the brand’s legacy built over decades of trust and recognition and applying forward-thinking by embracing digital transformation lies at the heart of this approach. This helps the brands retain their loyal customer base and at the same time, captivate the interest of new, digitally-savvy consumers. Our experience in managing our extensive and varied client roster is an asset that comes in handy in implementing this approach. With the increasing importance of different kinds of touchpoints for brands, how does Vermmillion ensure that brand experiences are cohesive across all platforms? At Vermmillion, we believe in harnessing the power of a compelling idea to create memorable brand experiences across diverse touchpoints. A good idea, when executed with precision and creativity, possesses the remarkable ability to transcend mediums and adapt seamlessly to various platforms. We understand that the core of a successful campaign lies in the strength of the idea. Our expertise lies in strategically translating these ideas into impactful campaigns that resonate with audiences across drastically different touchpoints, from social media platforms to traditional advertising channels and beyond. By carefully curating each interaction with the consumer, we ensure that every touchpoint works independently yet cohesively to deliver a seamless brand experience that leaves a lasting impression. However, the real advantage lies in the strategic decision-making process of identifying and prioritising touchpoints with the highest potential return on investment (ROI). At Vermmillion, we specialise in guiding brands through this process, leveraging our expertise to help them strategically choose the most impactful touchpoints for their specific goals and target audience. How do you foresee the role of emerging technologies, like AI and VR, in shaping the future of brand experiences? At Vermmillion, we’re excited about the new horizons that technologies like AI and VR have unlocked, offering innovative ways to tell brand stories and connect with audiences on a deeper level. We first view AI as an enabler to streamline processes and then as a facilitator to increase the speed and power of the creativity and effectiveness of our campaigns. In every execution and analysis, AI’s primary role is aiding. Ultimately, it’s human intelligence and creativity that propel compelling branding. What are the agency’s focus areas in 2024? We have already embarked on a new chapter of growth, innovation and technology in 2024, with a steadfast commitment to enhancing our core competencies across three key areas. Firstly, we are dedicated to elevating the client experience by deepening our understanding of client needs and preferences, fostering stronger relationships and delivering tailored solutions that exceed expectations. Through personalised service and proactive communication, we aim to cultivate lasting partnerships built on trust and mutual success. Secondly, talent management remains a cornerstone of our agency’s success and in 2024, we are prioritising investments in talent acquisition, development, and retention. By nurturing a culture of continuous learning and empowerment, we aim to attract top-tier talent, foster creativity and innovation, and ensure our team remains at the forefront of industry trends and best practices. Lastly, operational efficiency will be a focal point as we streamline processes, leverage technology solutions, and optimise resource allocation to maximise productivity and deliver value to our clients. “We take immense pride in our ability to stand toe-to-toe with industry behemoths and make our mark on the global scene” INTERVIEW Vermmillion Communication
DHANENDRA KUMAR Chairperson, Competition Advisory Services (India) LLP DR ANNURAG BATRA Chairman & Editor-in-Chief BW Businessworld and Founder, exchange4media SHUKLA WASSAN Independent Director, GE C.V. RAGHU Former Group General Counsel, Samvardhana Motherson Group HEMANT KUMAR Group General Counsel, L&T MANJAREE CHOWDHARY Senior Executive Director & GC, Maruti Suzuki India PANKAJ VASANI Group CFO, Cube Highways InvIT & Board Member, Cube Highways PULIN KUMAR Ex- Sr. Legal Director, Adidas India SAMEET GAMBHIR VP (Corp. Law) & Company Secretary, DCM Shriram MANISH LAMBA General Counsel, DLF Cyber City Developers DR. SUBIR BIKAS MITRA Advisor (Law), DGH/Sr Advisor, HCSC, MoPNG and Adjunct Professor, IIMs For Partnerships & Speaker Opportunities: Sumit Narula: +91 99999 55556, [email protected] For Nomination Inquiries: Baani Chauhan: +91 84476 77166, [email protected] Deepshikha: +91 77376 56804, [email protected] Chirodeep Mitra: +91 98111 36111, [email protected] EXHIBITING PARTNER EVENT PARTNERS 4TH EDITION TOP 100 GENERAL COUNSEL GENERAL COUNSEL Presented by In association with MAY 11, 2024 UPCOMING EVENT #BWLegalGC100
92 | B W BUSINESSWORLD | 04 May 2024 INTERVIEW UMA SHANKAR BHARDWAJ, Founder and CEO, iAvatarZ Digital, outlines the digital advertising scenario, the role of emerging technologies, data-driven insights to craft personalised and engaging campaigns By Team BW CREATIVITY + TECH + INNOVATION “We Focus On Brand Ethos” How do you define creativity in digital advertising, and what role does it play at iAvatarZ Digital? Creativity in digital advertising is the art of blending technology with imaginative storytelling to capture the audience’s attention in unique and impactful ways. At iAvatarZ Digital, it’s not just about creating visually appealing ads or catchy slogans; it’s about understanding the client’s objectives, their audience, and the nuances of the digital landscape to devise campaigns that stand out amidst the noise. Can you share an example of a campaign where your agency pushed the creative boundaries in digital advertising, especially given the current changing times? Our team meticulously crafted an AR experience that seamlessly integrated with the user’s environment, enabling them to preview products in real-time before making a purchase decision. By immersing consumers in this interactive experience, we not only elevated engagement levels but also witnessed a significant uptick in sales metrics. We were able to bridge the gap between online browsing and real-world iAvatarZ Digital experiences, empowering consumers to make more informed purchasing choices. What emerging technologies are currently shaping the strategies at iAvatarZ Digital? AI, machine learning, and augmented reality empower us to craft highly tailored experiences for consumers, enabling us to resonate with them on a deeper level. AI and machine learning helps in ensuring that every campaign maximises its impact and efficiency – this is made possible through analysing vast amounts of data in real-time, gaining invaluable insights into consumer behaviour and preferences. Additionally, AR offers exciting opportunities to create immersive brand experiences. How does iAvatarZ leverage data analytics and machine learning in its advertising solutions? The powerful combination of data analytics and machine learning enables us to craft highly personalised messaging strategies that resonate with target audiences. By pinpointing the optimal timing and selecting the most impactful channels for message delivery, we ensure maximum engagement and ROI for our clients. How do you foster a culture of innovation within your team? We understand that empowering our team is key to unlocking their creative potential and driving impactful outcomes for our clients. The free exchange of ideas is championed within our team, where every member’s voice is valued and respected. This collaborative approach not only enriches our strategies but also cultivates a sense of ownership and pride among team members. Moreover, this environment of innovation and collaboration fuels high engagement levels among our team, inspiring them to constantly push boundaries and pursue the next
04 May 2024 | B W BUSINESSWORLD | 93 trend signifies a shift in consumer behaviour towards more conversational interactions with technology. How does the agency adapt to changes in digital consumer behaviour? Utilising sophisticated analytics tools, we continuously gather and analyse vast amounts of data to gain deep insights into evolving consumer preferences and online behaviours. How does iAvatarZ collaborate with clients to ensure their brand message is both innovative and effective? Our collaboration with clients goes beyond surface-level engagement. We place utmost importance on comprehending our clients’ brand ethos and objectives. Through regular feedback loops and iterative processes, we finetune our strategies to ensure the end product not only connects with the intended audience but also seamlessly integrates with the brand’s overarching message. What are the next big projects for iAvatarZ that you are excited about? Account-Based Marketing (ABM) has gained traction in recent years as a highly targeted approach to reaching key decision-makers within specific companies. For iAvatarZ, embracing ABM signifies a strategic shift towards a more personalised and tailored approach to their clients’ marketing campaigns. By focusing on individual accounts rather than broad demographic segments, iAvatarZ can deliver highly relevant content and messaging to key stakeholders, increasing the likelihood of engagement and conversion. breakthrough idea or approach. Could you discuss a challenge that spurred a significant innovation at iAvatarZ? Recognising the importance of maintaining user privacy while still delivering targeted advertising, we’re proactively developing a proprietary technology. This harnesses the power of machine learning to analyse behavioural data in a cookie-less environment. With this, we will be able to offer our clients a sustainable solution that balances the need for privacy with the effectiveness of personalised advertising by end of Q4 this year. What are the latest trends in digital advertising that you find exciting? The emergence of voice search and voice-activated devices opens up exciting opportunities for digital advertising. This “We understand the client’s objectives, their audience, and the nuances of the digital landscape to devise campaigns that stand out amidst the noise”
94 | B W BUSINESSWORLD | 04 May 2024 IN CONVERSATION In an interview with BW Businessworld, UPENDRA RAI , Chairman & Managing Director and Editor-in-Chief of Bharat Express News Network, delves into Bharat Express’ perspective of the future of news, its adaptation of emerging technologies and focus on personalised content delivery CREATIVITY + TECH + INNOVATION UPENDRA RAI ‘We Are Exploring and Maximising Opportunities for Content Syndication’ Amidst shifting consumer preferences, how is Bharat Express evolving its content delivery and production methods to ensure relevance and engagement? At Bharat Express, we’ve embraced a multi-platform approach by delivering news content not only on television but also across digital platforms such as websites, social media, mobile apps, and streaming services. This strategy enables the channel to reach audiences where they are and cater to various consumption habits. Additionally, we utilise data analytics to better understand audience preferences and behaviours, tailoring news content to meet the specific interests of different demographic groups or individuals. We prioritise experimentation with interactive formats such as live Q&A sessions, polls, quizzes, and user-generated content. Recognising the trend towards shorter attention spans and the consumption of bite-sized content, we produce shorter news segments, highlights, or summaries that deliver key information quickly and succinctly, suitable for platforms like social media or mobile apps. Furthermore, we invest in compelling visual storytelling techniques such as immersive graphics, animations, and augmented reality. These visual elements enhance the storytelling experience, making news content more engaging and easier to understand, especially for younger audiences. As traditional revenue models face disruption, what is Bharat Express’s strategy for financial sustainability? To overcome the disruption of traditional revenue models, Bharat Express depends on alternative revenue streams such as expanding digital advertising efforts by leveraging the channel’s online platforms, including the website, mobile app, and social media channels. Offering targeted advertis-
04 May 2024 | B W BUSINESSWORLD | 95 “We are working to introduce subscription-based models that offer premium content or exclusive features to subscribers” Furthermore, we actively monitor social media engagement metrics such as likes, shares, comments, retweets, and mentions to gauge audience engagement with news content on social platforms. We track audience retention metrics such as average viewing duration, bounce rates, and returning visitors to assess how effectively the channel is retaining its audience and encouraging repeat engagement. We analyse content performance data to identify which topics, formats, and storytelling techniques resonate most with the audience. In what ways is Bharat Express leveraging emerging technologies like AI and machine learning to enhance its news gathering processes, improve audience interaction, and streamline operational management? As AI has significantly impacted modern-day business activities, Bharat Express has adopted AI-powered tools to automate the generation of news articles, summaries, and for AI-based anchoring. These tools enable TV news channels to quickly produce timely and relevant content to keep up with the 24/7 news cycle. AI-powered transcription and translation tools automatically transcribe spoken content from video footage or live broadcasts and translate them into multiple languages. This streamlines the process of captioning videos, making news content accessible to a broader audience, and improving SEO for digital platforms. We are also focusing on AI and machine learning algorithms to optimise various operational processes within ing opportunities based on user data and behaviour can attract advertisers looking to reach specific audience segments. We are working to introduce subscription-based models that offer premium content or exclusive features to subscribers. We are also exploring and maximising opportunities for content syndication by licensing news content to other media outlets, streaming platforms, or international broadcasters. We are partnering with brands to create branded content or sponsored segments that align with the channel’s editorial values and audience interests. We are organising live events, conferences, or experiential activations related to news topics or themes covered by the channel and monetising these events. How does Bharat Express measure audience engagement in a fragmented media environment, and what tactics have been most effective in retaining and growing its viewer and reader base? Like other TV news channels, Bharat Express tracks traditional metrics such as viewership ratings, audience reach, and demographic breakdowns to gauge the size and composition of the audience across different programmes and time slots. Additionally, at Bharat Express, we closely monitor audience engagement through digital analytics tools to track online audience engagement metrics such as website traffic, social media interactions, video views, click-through rates, and time spent on digital platforms. These metrics provide insights into audience behaviour and preferences in the digital space.
96 | B W BUSINESSWORLD | 04 May 2024 CREATIVITY + TECH + INNOVATION These multiple layers of verification minimise the chances of broadcasting any inaccurate news. In the rare event of misinformation being aired, the channel takes immediate corrective action and takes ownership of the mistake. Measures are then put in place to prevent similar occurrences in the future. Can you elaborate on Bharat Express’s leadership principles and how they foster a culture of innovation and inclusivity within the organisation? Bharat Express strongly believes in and practices core leadership traits, wherein leaders set a clear vision for the organisation, emphasising the importance of innovation and inclusivity in driving the channel’s success. They communicate this vision effectively to all team members, inspiring them to embrace change and contribute to the channel’s overall growth. Our leadership strength rests on four pillars: Financial Perspective, Customer Perspective, Learning and Growth Perspective, and Internal Process Perspective. Leaders at Bharat Express empower employees at all levels to take ownership of their work and contribute ideas for innovation. They create an environment of trust and psychological safety where team members feel comfortable taking risks, sharing feedback and challenging the status quo. As audience preferences continue to evolve, what measures is Bharat Express taking to personalise content delivery and provide tailored experiences for its viewers and readers? Bharat Express is implementing a multi-pronged approach to personalise content delivery and offer tailored experiences for its viewers and readers as audience preferences evolve: l We customise news content and recommendations based on data-driven insights about specific user profiles. lMulti-Platform Delivery: By providing content across various platforms such as broadcast, websites, social media, mobile apps, and streaming services, Bharat Express caters to different consumption preferences. l Interactive Features: Interactive formats like polls, quizzes, and user-generated content on social media platforms enable viewers to express their interests and engage with relevant content. l Focus on Diverse Voices: Featuring a range of journalists and contributors with diverse perspectives allows Bharat Express to offer a broader spectrum of news coverage, appealing to audiences with different viewpoints. By integrating these strategies, Bharat Express aims to deliver a personalised news experience that keeps viewers and readers engaged and informed on topics relevant to them. the TV news channel, such as resource allocation, scheduling, and workflow management. By automating repetitive tasks and identifying areas for improvement, channels can streamline operations, reduce costs, and allocate resources more effectively. What steps is Bharat Express taking to ensure content authenticity and combat misinformation in an era of rapid digital dissemination of information? News broadcasting at Bharat Express undergoes three levels of checks and authentications. Our organisational structure is designed to prevent direct news from going on air or onto our social media platforms without verification. Initially, the originator of the news reports the event as it happens on the ground level. Then, it undergoes validation at the bureau level. Next, it is sent forward for assignment where it undergoes another round of authentication. Finally, when the news is approved by the output team, it is aired. “Bharat Express strongly believes in and practices core leadership traits, wherein leaders set a clear vision for the organisation, emphasising the importance of innovation and inclusivity in driving the channel’s success” UPENDRA RAI , CMD, Bharat Express News Network IN CONVERSATION UPENDRA RAI
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98 | B W BUSINESSWORLD | 04 May 2024 INTERVIEW In the ever evolving world of digital marketing, ATUL HEGDE is a seasoned player. The founder of YAAP, a tech- driven content company, offers a unique perspective on digital marketing in a conversation with Rajany Pradhan. Hegde talks of YAAP’s innovative strategies and the company’s future plans Info graphics by Rahul Roy CREATIVITY + TECH + INNOVATION ‘We Have Identified Targets for Acquisition’ What inspired you to venture into digital marketing and start your own company? Entering the digital marketing space was a natural progression for me, considering my two decades’ of experience in media and advertising, with a strong focus on digital marketing. When it comes to YAAP, it has been structured differently, resembling a consultancy or law firm rather than a traditional CEO model. Our team operates as partners, each overseeing specific geographies or practices, fostering agility and innovation, a crucial factor in meeting evolving client needs. Our approach resonated with clients who sought experienced professionals backed by a startup’s agility. YAAP addresses contemporary marketing needs, where digital platforms play a pivotal role. Over the years, we’ve made strategic acquisitions to enhance our capabilities. Notably, we acquired Elephant Design and Optify, integrating their expertise into our service offerings. Despite being a relatively young company, YAAP boasts of a diverse client portfolio spanning multinational corporations to home-grown brands. Our client centric approach and ability to deliver results have been keys to our success. In a competitive industry like digital marketing, how do you set YAAP apart from other agencies? The first thing to understand about digital marketing is managing expectations. Seventy per cent of digital marketing is grunt work. It’s the stuff that happens in the background, behind the scenes. For instance, consider search. If I’m selling a product on Amazon, how do I ensure that my product appears when a customer is ready to buy? Do I have enough organic SEO going? Do I have YAAP
04 May 2024 | B W BUSINESSWORLD | 99 Are you looking for more acquisitions in the future? Going forward, acquisitions will play a crucial role for us this year, as we concentrate on expanding our presence in the content and generative AI sectors. Our focus is on strengthening our influencer marketing platform. Of significant importance, we’re preparing to go public this year, entering the capital market in India. Currently, we have identified approximately eight potential targets for acquisition. We plan to acquire at least two of these companies this year, one in the content space and another in the AI sector. Our leadership emphasises partnering with individuals who possess an entrepreneurial mindset. From our humble beginnings with 15 team members, we’re on track to reach around 150 this year, using technology to maintain efficiency. Generative AI is poised to revolutionise the content industry, representing a significant shift from our initial focus on the Indian market. Despite our global expansion, India remains a substantial contributor, accounting for about 65 per cent of our revenues. I’m particularly optimistic about our prospects in the Middle East, particularly in Saudi Arabia. We’re gearing up to establish a physical presence in this promising market, which has recently opened up to us. We’ll continue to focus on these three buckets that we run – the three Ds: design, discovery and distribution. [email protected] sufficient content? See, everyone wants their content to go viral, but that’s just a small part of being consistently successful. It’s crucial to get the basics right. We should focus on the long tail of influencers. They might not have millions of followers, but they have significant influence within their niche. Many people think influencer marketing is just about reaching a massive audience, but it’s more nuanced than that. Even with a thousand followers or even 500, the influence we have within those networks is incredibly valuable. That’s where technology plays a crucial role. So, educating our clients about these nuances is incredibly important. How did YAAP achieve a rapid global expansion within a short timeframe? YAAP’s journey has been characterised by innovation, strategic acquisitions and a client-centric approach. Our geographical footprint extends across India and beyond, with operations in Singapore, Dubai and soon Riyadh. This expansion underscores our commitment to serving clients globally and tapping into emerging markets. Our growth trajectory reflects the evolving landscape of digital marketing, where agility and expertise are paramount. How has the company been pioneering the use of generative AI in content creation? Last year, what started to disrupt the industry and I think it’s going to define the next three to four years for this industry is the use of generative AI in content creation. Again, we’ve been among the first to create a small AI usage lab within the organisation in Bangalore. There we experiment with various tools that are available in the market and not create our own. The key for content creation in AI, is actually training people for prompts. About 10 per cent of all the content that we create today is AI generated. I feel in three years, it will become 50 per cent. Artificial Intelligence helps in two things – first it takes away regional bias. So my team here can create content for Saudi Arabia. The AI can be taught to do that. I don’t need to have a team on the ground there to create that content. Saying that, we do need to understand local nuances and understand the language. Second, it’s the sheer quantity of AI. “Our geographical footprint extends across India and beyond, with operations in Singapore, Dubai and soon Riyadh “
100 | B W BUSINESSWORLD | 04 May 2024 COLUMN Perhaps not, and this is one of the several reasons why the chief marketing officer role has come under question in recent years. What next? By Chintamani Rao CREATIVITY + TECH + INNOVATION ON January 1, 2024, the advertising industry saw a seminal moment as J Walter Thompson (JWT) went into oblivion. Not with a bang, not with a whimper, but by WPP’s own skilled hands, if I may take a liberty with the words of Bill Bernbach. Established in 1864, JWT earned the moniker ‘university of advertising’ for its role in shaping industry leaders. Operating in India since 1929, it reigned as the country’s largest agency for over eight decades. With its merger with Wunderman in 2018 making Wunderman Thompson, J Walter was gone. Now, barely six years later, it has been subsumed into VML, and Thompson is gone. The demise of the JWT brand epitomises the ongoing upheaval within both the advertising and marketing sectors. Jack Trout wrote in 2006, “US brands are descending COUNTERPOINT Do CMOs Know What They Are Meant To Do into chaos, confusion and commoditisation… marketing is increasingly becoming a complex science of data mining, number slicing, niche segmenting and so on and on… Marketing is a mess.” The CMO On The Hotseat Over the past two decades, the Chief Marketing Officer (CMO) role has come under question, with many global corporations opting to abolish it and to redefine others to carry out some of its functions. Forbes attributes this to CEO distrust and a lack of knowledge of what marketing does. In the American Marketing Association’s definition, the function of marketing is “creating, communicating and delivering value to customers”. But when in 2019 Thomas Barta asked 1,234 CMOs in 74 countries what they were