Brand equity – a count Indian media agencies need to focus on
From they have been building client’s brands, media agencies in India have realised the importance of building their own brands as well. Research shows that media agencies still have very poor recall in comparison to creative agencies but they are already working on that.
Media agencies may have recently come out of the shadows of advertising/creative agencies but they do realise the importance of brand building and are working on it. Research shows that there is a need to do so also.
A study executed by ACNielsen in July 2006 -- ACNielsen Media Agency Track -- showed that unlike advertising agencies, media agencies have low brand recall. In general, spontaneous recall is less than two-thirds for all media agencies. Only two agencies -- Mindshare and Madison -- crossed the 50 per cent mark.
Another interesting finding of the study is how agencies are perceived differently by influencers and decision-makers. For Mindshare, in comparison to 19 per cent of decision-makers, 16 per cent influencers are in favour of the agency. For Madison however, it’s just the opposite with only 8 per cent of decision-makers favourably disposed towards the agency in comparison to 15 per cent influencers.
In perception of aggregate billing, Mindshare tops the charts with Maxus and Madison following suit.
Studies like the ACNielsen Media Agency Track clearly bring about that visibility has to be enhanced to increase brand equity, even for media agencies and that is what is seen now. Despite their schedules, agencies are increasingly making more time for investing in self-image -- whether it is communication with the media, presenting viewpoints on industry issues, participation in industry awards or just simply making noise around whatever they do.
Do media agencies pay attention to brand building? GroupM’s COO, South Asia, Vikram Sakhuja, asserted that they do. He said, “The image is important today and agencies do take care, to whatever extent they can, in ensuring that time and attention is given to this aspect.” Madison Communication’s Chairman Sam Balsara agreed, stating, “It is only right that an agency does some conscious thinking about its brand image amongst its core target audience.”
Starcom MediaVest Group’s, South Asia, CEO, Ravi Kiran elaborated more on the importance of brand building. He said, “In most monopolistic or non-competitive markets, players don’t think it is worth actively building image. However, things change when competition goes up and that is when building brand image is important.”
Stating that brand image is important for every business, he drew comparisons with other sectors and cited examples like MTNL, UTI and so on and the change in their advertising today.
However, are media agencies doing enough to build their brands? Ravi Kiran thinks that there is still time to go for that. He said, “At least in our business, perception is the only reality and that is all that the advertising business is about. But when it comes to ourselves, we have been very pathetic about it.”
He added, “There is no commonly understood purpose of the sector. Are agencies corporations, or are they shops? For far too long, agencies have described themselves as shops. Informality is not such a bad thing but it is important to have practices and processes that make corporates and that is an area where we have to work on.”
Sakhuja believes that there is work happening by agencies to build their brands. He said, “Advertising is just one of the ways in which any brand builds equity -- a lot happens through product experience and communication and that is happening. There are several things that you get from a brand – combined brand experience, clients used to getting a certain degree of service and continuous relations. Then there are industry events like awards and so on also, that adds to an agency’s brand building initiatives.”
Balsara added caution here. He observed, “Media agencies are under the mistaken impression that they play a very important role and hence are concentrating on brand equity and not only sending press releases but also press conferences. But clients are smart -- they can differentiate between chalk and cheese. Brand building for an agency is it is important but it is not a must or critical. It can help you get to a certain stage.”
Ravi Kiran on the other hand is of the opinion that things have changed today and business is not only about networking. He pointed out, “Earlier agencies where known by the head -- take the example of the likes of Alyque Padamsee, Ravi Gupta or Arun Nanda. However, agencies are growing into corporations today rather than just being personality driven set ups and so they have to actively build brands.”
He said that one of the reasons consulting companies such as McKinsey and Deloitte never complain about being paid low, is that over time they have been able to create respectable equity not just for their brands but for their industry. “We need to take some inspiration from them,” said Ravi Kiran.
He divulged, “We ranked fairly high in the Brand Equity study and there are times when clients have called based on that. The brand image does make a difference.”
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
TOP STORIES
E4M Our strategy is to target younger audiences through Sports: Rajiv Dubey, Dabur
The Head of Media at Dabur India spoke exclusively to exchange4media on the World Cup, associating with Indian Idol, the company’s digital spending and much more
With quirky campaigns, memes and moment marketing, timed with the ongoing World Cup and particularly the India-Pakistan matches, Dabur India has got considerable consumer attention for its popular brands – Red Paste, Cool King Hair Oil, Chyawanprash, Dabur Vita and the recently launched Bae Fresh Gel toothpaste.
The 140-year-old company is going big on key sporting events, World Television Premiere (WTP) movies and reality shows. It is now gearing up to become the title sponsor of popular talent show ‘Indian Idol’ on Sony TV for the first time, shared Rajiv Dubey, who leads the media strategy at Dabur.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
ShareSwapan Seth's new book 'COOL' is out
The book is a reflection of the author's 'eclectic taste across categories'
Advertising professional and art collector Swapan Seth has announced the launch of his new book COOL. The book is described as "a ready reckoner to the hip and the happening, of the known and the very unknown."
The book is a reflection of the author's "eclectic taste across categories: from boltholes to exotic hideaways."
COOL has been published by Simon & Schuster India and is available on Amazon.
Seth is an ad veteran with a long and illustrious career in the industry. He became the youngest-ever Creative Director at Clarion at age 24. He was VP at 26 at Trikaya Grey. Two years later, he started his agency Equus.
He writes for publications such as The Economic Times, Hindustan Times and India Today. This is his second book and he has previously published THIS IS ALL I HAVE TO SAY.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
Disney Star signs 9 sponsors for Asia Cup PAK
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up come on board
e4m Staff Disney Star has signed nine broadcast and digital streaming sponsors for the upcoming Asia Cup.
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up have come on board for the upcoming tournament.
As reported earlier by exchange4media, Disney Star has sought Rs 26 crore for the co-presenting sponsorship on TV and Rs 30 crore for Disney+ Hotstar.
According to industry sources, the associate sponsorship on Star Sports has been priced at Rs 19.66 crore, whereas for the ‘powered by’ sponsorship on Disney+ Hotstar, the broadcaster is seeking Rs 18 crore.
As per the information available with exchange4media, Disney+ Hotstar has three sponsorship tiers-- co-presenting (Rs 30 crore), powered by (Rs 18 crore) and associate sponsorship (Rs 12 crore). The broadcaster is offering an estimated reach of 120-140 million for co-presenting sponsors, 90-100 million for powered by and 60-70 million for associate sponsorship.
A spot buy for 10 seconds has been priced at Rs 25 lakh for the India vs Pakistan matches, while for the non-India matches, the ad rate for 10 second is Rs 2.3 lakh. The India matches plus the final for ODIs has been priced at Rs 17 lakh per 10 seconds.
Asia Cup is scheduled to be held from 30 August, 2023, to September 17, 2023.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
Sorted 360 wins creative & social media mandate of Reliance Mall
The agency will manage offline and online campaigns for Reliance Mall
Sorted 360, an integrated creative and social media agency, has won the mandate to providing brand solutions for Reliance Malls across India.
“Sorted 360 is set to enhance Reliance Malls' market presence with their unparalleled creative prowess and strategic thinking,” read a press release.
“Sorted 360's commitment to pushing the boundaries of creative communication aligns perfectly with Reliance Malls' ethos. With a pan-India presence spanning across 19 cities and growing, Reliance Malls has consistently captivated customers by offering an array of Reliance brands and third-party fashion & lifestyle brands. The mall has established an unparalleled connection with its patrons through superior quality, a remarkable value proposition, and an unmatched shopping experience,” it read further.
"We are thrilled to welcome Sorted 360 as our trusted partner in advancing our brand presence across the nation," said the Head of Marketing at Relaice Malls. "Their proven expertise in retail, shopping center management, and innovative creative strategies make them the perfect fit for our vision."
"Partnering with Reliance Malls is a testament to our commitment to shaping extraordinary brand experiences," remarked Prerana Anatharam, Co-founder of Sorted 360. "We are excited to leverage our strategic and creative acumen to further elevate Reliance Malls as the epitome of convenience, choice, and excellence."
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
test
test
test
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
test
test
test
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
KlugKlug onboards Hemang Mehta as Country Manager for Indias
Mehta was most recently Head of Agency Relationships at Network 18 Media & Investments
KlugKlug has appointed Hemang Mehta as its Country Manager for India.
Mehta will play a pivotal role in driving KlugKlug's growth and expansion within the Indian market and be responsible for Sales & GTM Strategy
Prior to that, he has also represented organisations like Exponential (now VDX.tv), India Today Digital and Rediff.com. His expertise spans various domains including digital media sales, mobile marketing, media planning, and buying, social media marketing, and more.
Hemang Mehta expressed his enthusiasm about joining KlugKlug, saying, "I am thrilled to be a part of KlugKlug, a forward-thinking platform that is reshaping the influencer marketing landscape. As much as I look forward to collaborating with the exuberant team at KlugKlug, I am super excited to interact with the brands to deliver powerful data-backed Influencer solutions that will guarantee business outcomes."
Commenting on the appointment, Kalyan Kumar, Co-Founder and CEO of KlugKlug, stated, "We are excited to welcome Hemang Mehta to our team as the Country Manager for India. His extensive experience in digital media sales and marketing will be instrumental in driving our efforts to provide influencer marketing solutions to our clients. We believe Hemang's leadership will be key in scaling our operations and expanding our reach within the Indian market."
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp