Mumbai: The second half of Day 3 at Goafest 2024 commenced with a dynamic Knowledge Seminar hosted by The Trade Desk on Customer-Centric Adaptability; Meeting Shifting Expectations; Maintaining Customer Loyalty in a Dynamic Environment, focusing on meeting shifting expectations and maintaining customer loyalty in a dynamic environment. Leading the discussion was Tarun Puri, senior operating partner at Lighthouse Funds, Asha Kharga, chief customer & brand officer at Mahindra Group, Siddharth Roy Kapur, founder & MD at Roy Kapur Films, with moderation by Anuradha SenGupta, founder of @anuradhasays.
Through this conversation, Asha highlighted a growing sentiment among Indian consumers, stating, "Indians want Indian brands to succeed." This patriotic support for domestic brands underscores the potential for growth and loyalty within the local market. Thereafter, in response to Anuradha's question about the challenges businesses face regarding data reliance and consumer compliance, Asha emphasised the importance of ethical practices. "They should not at any point feel they are being harassed by our business. We have a clear contact policy. But in the long-term interest of the consumer, it is the right thing to do," she asserted, advocating for a balanced approach that respects consumer privacy while ensuring beneficial outcomes.
Tarun discussed key post-pandemic trends in the consumer goods sector, focusing on premiumisation and commoditisation. He noted the intense competition within the digital realm, which makes brand building particularly intriguing. Subsequently, Siddharth shed light on the dynamic nature of the current film industry, particularly the evolution of movie marketing over the past two decades. He mentioned various contemporary marketing strategies, including mall visits, integrations, interviews, and road shows. Reflecting on past experiences, he shared, "For 'Khosla Ka Ghosla', we spent more on marketing than on production," illustrating the significant shift in how films are promoted in today's competitive market.
In this insightful session, Tarun Puri, Asha Kharga and Siddharth Roy Kapur navigated the intricate landscape of customer-centric adaptability. Through engaging dialogue and expert insights, they explored strategies for businesses to meet evolving customer expectations and foster loyalty in an ever-changing marketplace. These valuable perspectives on the importance of staying agile and responsive to customer needs, ultimately help drive long-term success and sustainable growth.
Next, an enriching Knowledge Seminar hosted by Dainik Jagran spotlighting The Art of Storytelling led by Neelesh Misra, a multifaceted Indian Journalist, Author, Radio Storyteller, Scriptwriter, and Lyricist. Misra's diverse expertise and passion for narrative craft have earned him acclaim across various mediums, making him a formidable authority in the realm of storytelling. He explored the concept of neural coupling, explaining how our brains respond to characters and events in stories as if we are experiencing them ourselves. Expressing concern, he said, "My greatest worry is that the greatest machinery of communication in the country is not understanding the audience." He emphasised the need for empathy; additionally, he advocated never talking down to the audience and highlighted the overlooked role of purpose in communication.
Furthermore, he warned against commoditising the audience in the name of adaptability. "You are all so powerful that you decide what people purchase, wear, consume amongst other choices they make," he told the audience.
In this captivating session, Neelesh Misra unravelled the intricacies of storytelling, offering invaluable insights into the power of narrative in captivating audiences and conveying messages effectively. Attendees were treated to an exploration of storytelling techniques, from crafting honest and authentic plots to evoking emotions, providing a holistic understanding of the art form's nuances. Misra's expertise and engaging delivery left a lasting impression, inspiring participants to harness the art of storytelling to engage, educate, and inspire with responsibility and accountability.
Another Knowledge Seminar presented by Malayala Manorama in association with MIQ, titled Adaptability And Innovation: The Cornerstones Of A Future-Ready Agency featured a distinguished panel of industry leaders. Among them were Anusha Shetty, Chairperson & Group CEO of Grey Group, India; Jitendra Dabas, Chief Operating Officer & CSO, India, head of effectiveness, APAC, McCann WorldGroup and Babita Baruah, Chief Executive Officer of VML India. Steering the discussion was Dheeraj Sinha, Group CEO for India and South Asia at FCB Group India. In this dynamic session, the panellists explored the vital role of adaptability and innovation in shaping the future of agencies, where the next generation is concerned.
Dheeraj posed the critical question, "What questions should we be asking wherein talent is concerned?" Jitendra responded by highlighting the need for inclusive environments, asking, "Are we creating agencies where younger people are comfortable and thriving?" Anusha, then, addressed the generational shift in workplace expectations, stating, "I hear from senior leaders about culture missing. But the truth is GenZ is the largest workforce today and they want flexibility; 85 per cent of GenZ wants a hybrid work situation. Are we as seniors ready to accept this?" She emphasised the importance of adapting to the needs of younger employees. Additionally, Babita added, "Simple things like setting younger people up for success and fostering a sense of belonging are crucial. Allowing expression and embracing them is key." The discussion underscored the need for senior leaders to evolve and create supportive, flexible work environments for the new generation.
Drawing from their wealth of experience, the panel discussed strategies to hone talent and manage remuneration for the next generation; this would ensure that a lot of us stay agile and ahead of the curve in an ever-evolving industry landscape.
Next in line was a Knowledge Seminar, presented by Google, in collaboration with the ISA and themed Evolving Market Landscape: Navigating The New Normal, which boasted a panel of eminent figures. Shashank Srivastava, a distinguished member of the executive committee at Maruti Suzuki, and Sunil Kataria, chief executive officer of Raymond Lifestyle (India & International), were among the esteemed speakers. Moderating the discussion was Anuradha SenGupta, the esteemed founder of @anuradhasays. In this engaging session, the panellists dissected the intricacies of the evolving market landscape amid unprecedented change, amidst digitisation.
Shashank stressed the need for agility in understanding consumer behaviour. "We have to be on our toes to keep up with the constant changes in consumer behaviour," he stated. He also highlighted the importance of collecting interactional data from all touchpoints and integrating it. Adding to this, Sunil underscored the varied ways consumers engage with different platforms. "Listening analytically to data is very important," he noted, adding that in-store observations are also extremely crucial. He stressed the value of using first-party data to gain insights quickly and effectively. The discussion highlighted the critical role of comprehensive data analysis in adapting to evolving consumer preferences.
With the assistance of their expertise, they explored strategies for navigating the 'new normal,' shedding light on the shifting dynamics of consumer preferences and market trends. Attendees were treated to a deep dive into the opportunities presented by evolving consumer behaviour through several touchpoints, especially data, gaining valuable insights to inform their strategies in a rapidly transforming landscape.
Thereafter, a Knowledge Seminar by OOH titled Adapting to be accountable was featured by a distinguished panel including Darshana Shah, head of marketing & customer experience at Aditya Birla Capital; Pawan Bansal, COO of Jagran Engage & chairman of IOAA (Indian Outdoor Advertising Association); Noomi Mehta, chairman of the board at Selvel One Group; and Jahan Mehta, chief growth officer at Oap Mediatech. Leading the discussion was Sam Balsara, founder, chairman & MD of Madison World & Madison Communications. In this engaging session, the panellists spoke of the importance of accountability in the outdoor advertising industry and discussed strategies for adaptation in an ever-evolving landscape.
Darshana emphasised the evolving role of multi-screen geotagging and the importance of Out-of-Home (OOH) advertising. "OOH must be used as the first medium and not just a recall medium. It's not just about hoardings any more," she stated, highlighting the flexibility of adapting a 10-second feature for OOH. To add to it, Pawan discussed the metrics of reach, frequency, and impressions, noting, "We have a 100-day plan for measurability and sustainability at IOAA." He also spoke about the IOAA certification, which aims to prevent incidents like the Ghatkopar mishap during thunderstorms from recurring. Further, Jehan shared his insights into promoting Out-of-Home (OOH) advertising to prospective clients, emphasising the potential of automation.
The conversation highlighted innovative strategies aimed at amplifying the reach and effectiveness of OOH advertising campaigns. Attendees gained valuable insights into navigating challenges and driving accountability to enhance effectiveness and transparency in outdoor advertising practices.
Furthermore, the next Knowledge Seminar, presented by ABP News and titled Embracing Change: Lessons from The Field to Life featured cricket legend and former BCCI President Sourav Ganguly alongside moderator Boria Majumdar, a renowned Indian sports journalist, historian, and writer. In this captivating session, Ganguly shared invaluable insights gleaned from his illustrious career, offering lessons on adaptation and resilience both on and off the field. Guiding the discussion, Majumdar facilitated a dialogue on the transformative power of embracing change, illustrating how principles learned in sport can be applied to navigate life's challenges with courage and determination.
From being captain to nobody to being dropped, adversities affect everyone, and the downs taught Ganguly to appreciate the ups. His journey underscores how even the most successful individuals face challenges, and how these low points provide valuable perspective on the highs of their careers. He said, “Nothing taught me better than sport; it's a leveller. You know, every next inning, you start from zero.”
He attributed the sport of cricket with imparting a valuable lesson: the ability to instinctively respond with an enthusiastic "I'll do it!" when tasked with a request. This mindset, honed through his experiences on the pitch, has proven invaluable in his personal and professional life beyond the sport. His parting words were a testament to resilience and embracing change, “Circumstances will change, what doesn’t and mustn’t change, for you, is your faith and belief!”
The final Knowledge Seminar of the day, titled The Art Of Adaptability: From Real Life to Reel Life, was set on stage, featuring Indian actor Manoj Bajpayee alongside moderator Prasoon Joshi, CEO and CCO of McCann World Group India. In this engaging session, Bajpayee shared insights into the art of adaptation, drawing parallels between his experiences in real and reel life. Guiding the discussion, Joshi facilitated a conversation on the importance of adaptability in the entertainment industry and beyond, exploring how actors navigate diverse roles and challenges with resilience and creativity.
Manoj Bajpayee, reflecting on his career, shared how he resisted conforming to others' perceptions of him. "The struggle was quite tedious after Satya," he noted, "I was still without work, saying, 'The recognition was heavier than my purse, which was empty.'" He emphasised the indispensable role of stars in cinema, OTT, and television, acknowledging how digitisation and OTT platforms have revolutionised the industry. Manoj also addressed the advent of AI, expressing confidence that AI cannot replicate the unique nuances of his varied characters. "What is reassuring is there is nothing to fear; you are unique and unparalleled. AI will be used very creatively. Humans will use AI, not the other way around."
The second half of Day 3 commenced with a masterclass by Snapchat, presented by Yagnesh Ravi and Srivatsan Jayasankar, titled GenZ Marketing 101: The Snap Camera. Ravi described Snapchat’s philosophy – to be an ‘antidote to social media’, without likes or public comments. He then highlighted Snapchat's popularity in India within the GenZ. Ravi then stated that GenZ uses the internet differently than other generations, with an interest in Augmented Reality (AR). Jayasankar took over and spoke on how AR can be used as a format for marketing. He invited the attendees to see examples of Snapchat’s AR on their phones by scanning QR codes.
Following this, Ranjan Mishra and Rahul Singh presented the TTD masterclass on Elevating Your Digital Marketing Strategy with AI, enlightening attendees on the potential of AI in enhancing digital marketing strategies. Rahul highlighted how AI can help one tap all data through an AI enabled platform. Rajan emphasised the importance of data processing. Further Rajan spoke on Real time optimization, he highlighted the key factor of AI.
The Youtube Shorts masterclass, presented by Jayesh Moorjani highlighted the growing consumption of short-format videos, particularly in India, and their importance for brands and advertisers. He noted top genres like humour, entertainment, travel, and tourism. He stressed the importance of influencer marketing, advising brands to focus on an influencer's reach rather than follower count for better ROI. He encouraged creative use of the vertical canvas to maximise audience engagement and brand results.
Lastly, the final masterclass of Goafest 2024 by D&AD featured Lisa Evans and Paul Drake, sharing insights on Unlocking Award Winning Ideas, giving the audience indispensable learnings on the conception of inventive ideas.
advertising business placed in the country.
