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The Current State of The Advertising Industry in India

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The global advertisement growth rate is around 4.5%, while the expansion rate in India this year was around 12%: Source

Deciphering the above figures gives us the opportunity to understand the potential of the Indian advertisement market. And, the traditional media market is making the most of this particular boom. For instance, the revenue generated in print media is about to surge at 3.25 billion USD by the end of this given year.

We can safely assume that the present market scenario of the conventional advertising industry is blooming and secured. Let us understand more and glance at the country’s actual market situation so that we can completely comprehend the industry for the benefit of future ad marketers.

Current scenario of the advertising market

As mentioned above, the marketing and advert industry in India is currently generating a lot of hype and sound. You might now begin to think that digital media has played a large chunk to produce that hurrah. However, till 2015, the new form of online advertisement market had only a projected small contribution of 15% in the whole industry.

On the other hand, a whopping 50,000 crore rupees were spent on advertisements alone during last year. Thus, you can safely assume that the traditional outdoor hoarding, print, and digital media outlets still made the most of the market and satisfied all the requirements and needs of the industry.

Experts also state that the advertising market is all set to expand even further in the coming years as the growth rate is all set to increase profoundly.

The current situation of the traditional advertising market

Categorically, there are four major conventional advertisement mediums in the global market. It is the same in India too. The options are as follows:

• Print Media—where newspaper and magazine adverts are given

• Radio and Television Media—or also known as the commercial spots or ads channel

• Outdoor Media—where the advertisements are placed in general populated areas on billboards, hoardings, pole kiosks, shopping malls, etc.

• Transit Media—another out of home advert medium where pictorial ads are fixed over taxis, buses, on bus seats, and on other vehicles

The demand in India for using these spaces for marketing purposes is enormous, as they hold power to serve 1.25 billion people in the country.

With traditional media spending valued at $ 5 Billion for this year alone in India, it is evident that the market is robust and has the potential to deliver. Keeping in mind the population of India, advertisers here, on average, still spend more than $ 5 per person for placing adverts. All these figures are set to increase in the coming years as well because of the expansion of the markets and the excess demand from advertisers.

What is helping the conventional advertisement market to grow?

Advertisers and companies prefer to use the traditional format of brand strategy holistically. The mainstream advert market attracts all types of businesses and entities and hence there is a future scope of growth in the industry. One of the main reasons why advertisement spending has increased so much in the last few years is because of this nation’s ‘developing’ tag and with the commercial emergence of the smaller cities.

Also, thanks to the rise in the e-commerce market, advertisement programs have surged ahead as well. With starting and doing business becoming faster, easier, quicker, and less hectic in the recent years, thanks to regulation changes, more and more small entities and start-ups have also cropped up. Everything has resulted in a boom in the advertisement industry, as promotion is necessary with any new inception.

If you run a company or a brand, even you know the benefits of putting up adverts in the conventional way to lure in more customers to serve. Hence, it does not come as a surprise the way the conventional media market is thriving and magnifying every single year.

How the medium is effective for companies to use

Now we know there is a truckload demand for placing an advertisement in the market, but we must dig deep and understand why businesses are always in awe of the conventional media option. Firstly, traditional adverts are capable of generating loyalty and goodwill in a very quick way. When a new company starts its venture or brings something new to the table, it uses the traditional medium to convey its message to the people. You can touch the masses with this form of advertising.

And, since you are touching the population at one single go, you can also estimate that traditional media is cost efficient than other forms of advertising. The recalling effect on mediums like billboards, radio jingles, and newspaper ads are also much higher than other formats of promotion.

Finally, traditional ad locations and spots can also be bought and purchased in a very quick way, by utilizing the features of an online media selling and buying platform. There are many reliable websites in the market, and this encourages advertisers to use the medium even more—as, getting a prime spot to place your advert is a huge bonus for any brand.

The conventional advertisement market in India is thriving on all fronts thanks to the demand the industry possesses. Also, because online technology is now playing a vital part in making the selection of the right advertising option, brands can now run their marketing campaign straight from their posh offices.

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About the Author

This article was written by Sam Makad. Sam Makad is an experienced writer and marketing consultant. His expertise lies on marketing and advertising. He helps small & medium enterprises to grow their business and overall ROI. 

Callum Connects

Denise Morris Kipnis, Founder & Principal of ChangeFlow Consulting

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Denise Mossis Kipnis’ curiosity in people and the world, lead her to set up ChangeFlow Consulting.

What’s your story?
I’m driven by curiosity. Having been the only one in a room who looks like me for most of my life, I developed a curiosity about who stays, who leaves and who thrives in minority/majority situations including when and how connection and collaboration happen. I was a systems thinker long before I knew what that was, always asking why and so what; and seeing the pieces, the whole, and the places in between. So helping people and organisations move through the complexity of transformation feels natural to me.

What excites you most about your industry?
I see change and inclusion as two sides of the same thing; I don’t practice one without the other. Some people see change as death, as loss, as exhausting. And it can be. But I see in the work I do as an opportunity for something new or hidden to emerge. When an organisation understands that it is first a group of people, who themselves represent and belong to groups of people, and it begins to tackle what it would mean to understand and learn from all that talent, all that diversity, to have them all working for and not against the organisation, to truly unleash all that their people have to offer; that’s magic.

What’s your connection to Asia?
Change and inclusion are personal values as well as professional strengths. For me, living and working outside of the States was a bold experiment to see whether any of the stuff I’d learned about change and inclusion would work outside of the US. My husband and I targeted Asia specifically: it would be the greatest contrast, culturally speaking, for me; and a unique career springboard for him.

Favourite city in Asia for business and why?
Although I’ve practiced in other cities, I am biased towards Singapore. In some ways it’s what Los Angeles is to the rest of the United States, a microcosm of sorts. The regional/global nature of it means that so many different nationalities and cultures are represented. As a result of this mix, you never know what you might get. In some situations, cultural dynamics are obvious, sometimes subdued. The variability is compelling.

What’s the best piece of advice you ever received?
“Never ask anyone to do anything you wouldn’t do yourself.” Michael Rouan.

Who inspires you?
Often it’s a “what” not a “who.” I can get inspiration from a passage in a book or a situation in a movie, as well as a turn of a phrase or watching people interact. I often make the biggest connections between the various threads I’m working on when I’m sitting in someone else’s event.

What have you just learnt recently that blew you away?
I’m honestly not blown away by much. Instead, I’m struck how circular things can be: ideas often come back around with a slightly different twist and I watch the way it shakes things loose for people. I recently sat through a workshop on Self as Instrument, and despite being thoroughly versed already, I learned something. In preparing for a panel on design thinking, I unearthed a new language to describe things.

If you had your time again, what would you do differently?
You’ve caught me at a good time. I’m sitting in appreciation and gratitude for all my experiences, because I wouldn’t be who I was today if all that has happened, didn’t. And yet one thing comes to mind: It wasn’t until I redesigned my website two years ago (shout out to Brew Creative!) that I realised I hadn’t made explicit agreements with my past clients as to what I could share publicly about our engagement, or whether I could use their logos in my promotional materials. In my business, confidentiality is so important, and yet I need to be able to talk about the work as reputation and experience leads to the next success, and so on. It turned out a lot of the contacts I had known had left the organisations where the work was done, so they couldn’t help at that point. So the practice I’m carrying forward is to get those agreements up front, and to make sure my relationships in client systems are broad as well as deep.

How do you unwind?
Science fiction, puzzles, wine.

Favourite Asian destination for relaxation? Why?
Home. I don’t travel to relax, I travel to learn and explore.

Everyone in business should read this book:
Built to Change, by Ed Lawler and Chris Worley. To my knowledge, it’s the first pivot from advising organisations away from stability and toward dynamism, from strategic planning to strategizing as an action verb; to blow up the traditions and rigidity that impede organisations from developing change capability.

Shameless plug for your business:
We’re taught that there are two kinds of people: those who see forests, and those who see trees. There is a third type, my type, and we see the ecosystem. Worms, climate, birds, the spaces in between. This is the perspective organisations need to be successful in solving complex problems and thriving in change.
ChangeFlow uniquely blends four disciplines (two of which are multi-disciplinary in themselves): organisation development, culture and inclusion, change management and project management.

How can people connect with you?
Facebook: https://www.facebook.com/ChangeFlowConsulting/
LinkedIn: https://www.linkedin.com/in/dmorriskipnis/
LinkedIn Company page: https://www.linkedin.com/company/4862954/
Email: [email protected]
Website: http://www.changeflowconsulting.com

Twitter handle?
@ChangeFlow

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

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Callum Connects

Agnes Yee, Legal & Compliance Recruiter of Space Executive

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Agnes Yee started Space Executive in Singapore, which is a hub for businesses in some of the world’s fastest growing economies.

What’s your story?
After graduation, I joined a design media company as a Business Development Executive, during the era when ‘reading a magazine online’ was unheard of. I believe that laid the foundation for being unfazed by rejections.

I fell into recruitment pre-GFC and rode the highs and lows in the early years. A decade later, I decided to set up my own recruitment company, partly because I could. I’m acutely aware of the face that being an Asian female in Singapore is sometimes a privilege, and that many women in the world are living a very different existence.
Thereafter, we joined Space Executive as part of a merger. I am currently the Partner of Space Executive, a recruitment company focused specialist disciplines, including Legal, Finance, Digital, Sales and Marketing and Change. We also run Space Ventures, a venture capital business, which invests in seed and pre-series A businesses.

What excites you most about your industry?
On a daily basis, we’re influencing how one spends a third of their day. It is interesting how the Internet has transformed the industry, and I’m excited to see how we can harness technology to bring us to the next phase of this business.

The VC is an extension of applying our skills and experience in reading people. We very much invest in the people as much as the idea. Being a native Singaporean, it’s been exhilarating watching Southeast Asia becoming a hotbed of ideas; and young entrepreneurs simply daring to dream.

What’s your connection to Asia?
I’m a born and bred Singaporean. I love that I speak both English and Mandarin, grew up playing with Indian friends and eating Malay food.

Favourite city in Asia for business and why?
Singapore for the low barriers of entry to set up a business, but has to be China (and Hong Kong) for their hunger and constant innovation.

What’s the best piece of advice you ever received?
青春不要留白 which translates to ‘Don’t waste your youth.’

Who inspires you?
Anyone who has gone against the grain.

What have you just learnt recently that blew you away?
It wasn’t recent but reading the article on https://waitbutwhy.com/2015/12/the-tail-end.html never fails to blow my mind how little time we have left. Charting our lives in weeks, and realising I only have enough time left to enjoy 60 Christmas turkeys, read 300 books (all if I’m lucky); and mostly, I’m left with the last 5% of the time that I spend in-person with my parents.

If you had your time again, what would you do differently?
I’m cognisant that every decision I made in life has brought me to where I am today, and I wouldn’t change one thing. But I’d really like to have had more time to travel.

How do you unwind?
Exercise and wine.

Favourite Asian destination for relaxation? Why?
Trekking any mountain in Asia. It brings us back to the most basic. To overcome elements of nature and our own mind.

Everyone in business should read this book:
Start with Why, Simon Sinek

Shameless plug for your business:
Space Executive started in Singapore, a hub for businesses in some of the world’s fastest growing economies. We assist organisations in accessing a targeted and specialised, and often times transient talent pool.

Out of Singapore, we have recruited across 14 countries; and have embarked on our global expansion plans with offices in Hong Kong and London this year, and US, Japan and Europe in the following years.

Space Ventures provides funding, management and financial guidance to young businesses with original ideas. We have invested in peer to peer lending platforms, credit scoring, social media education, and other start-ups spanning diverse industries. We are always interested in hearing more about new ideas.

How can people connect with you?
https://www.linkedin.com/in/agnesyee/

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started, built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

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