Unlike in the west, in India, print, TV & radio still remain the most critical areas for media buyers to focus on. Digital media is still in its infancy.
With income and consumption on a rise in the Indian market, the role of a media buying agency has also been evolving. Would you agree?
Surely. Media has evolved from the traditional forms of Print, Outdoor, Television & Radio to include Digital, Mobile and the Internet. This is because the consumer today enjoys content and entertainment across a multitude of channels and devices. Thus, it has become important for media buying agencies to acknowledge this change in mindset of the consumer & further equip themselves to correctly target and effectively reach out to newer platforms.
It has been noticed that in the developed West, consumers have moved to electronic and modern media. While in a developing nation like India, we are still very much into print and radio. What kind of a message does this have for media buying agencies?
Rightly put. In the West, Print has shown a considerable decline in circulation as a majority of the readership has shifted to digital mediums where the monetisation of such content has posed a challenge. Western media buying agencies have therefore transferred their skill sets to encompass digital as one of their strong growth drivers and have begun to rely lesser on traditional media forms of Print & Radio.
However, with a developing nation like India, Print still commands a lion’s share of the readers and advertisers in the country. Such a disparity exists primarily because print and other traditional media are still on the rise. This growth is because of demographic factors of growing literacy, language diversity & vast outreach. Thus in a country like India, media buyers have to concentrate on Print, Radio and TV, besides other emerging mediums.
So you mean that Digital Media still has a long way to go before it can become a strong force in the Indian market?
Yes. Digital media promises much in India, though, it is still at a very nascent stage, when compared to other established traditional media forms. However, every brand advertiser recognises the promise and potential of digital and is slowly testing the digital waters by allocating a small but significant part of their entire budget to digital. In response, media buying agencies have started to further focus on recruiting talent with both quantitative and creative skills – to actually service the digital domain properly.
With income and consumption on a rise in the Indian market, the role of a media buying agency has also been evolving. Would you agree?
Surely. Media has evolved from the traditional forms of Print, Outdoor, Television & Radio to include Digital, Mobile and the Internet. This is because the consumer today enjoys content and entertainment across a multitude of channels and devices. Thus, it has become important for media buying agencies to acknowledge this change in mindset of the consumer & further equip themselves to correctly target and effectively reach out to newer platforms.
It has been noticed that in the developed West, consumers have moved to electronic and modern media. While in a developing nation like India, we are still very much into print and radio. What kind of a message does this have for media buying agencies?
Rightly put. In the West, Print has shown a considerable decline in circulation as a majority of the readership has shifted to digital mediums where the monetisation of such content has posed a challenge. Western media buying agencies have therefore transferred their skill sets to encompass digital as one of their strong growth drivers and have begun to rely lesser on traditional media forms of Print & Radio.
However, with a developing nation like India, Print still commands a lion’s share of the readers and advertisers in the country. Such a disparity exists primarily because print and other traditional media are still on the rise. This growth is because of demographic factors of growing literacy, language diversity & vast outreach. Thus in a country like India, media buyers have to concentrate on Print, Radio and TV, besides other emerging mediums.
So you mean that Digital Media still has a long way to go before it can become a strong force in the Indian market?
Yes. Digital media promises much in India, though, it is still at a very nascent stage, when compared to other established traditional media forms. However, every brand advertiser recognises the promise and potential of digital and is slowly testing the digital waters by allocating a small but significant part of their entire budget to digital. In response, media buying agencies have started to further focus on recruiting talent with both quantitative and creative skills – to actually service the digital domain properly.
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Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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