India is Changing! The Connected, Conscious & Confident Consumer of changing India is highly discerning, impatient & seeks instant gratification. No longer does she have the patience to wait in queue, be it for grocery or taxis. She expects and demands options for dining out or entertainment or travel , but also wants to experience new products and services. Unlike her parents she wants to live an asset-light life by opting to rent rather than buy. She gets bored quickly and wants variety across the furniture in her home, the car she drives and even her career! Love is not celebrated in cafes & malls but across social networks & dating apps. Not only is she demanding these ‘options’ from brands & organizations but even from the government to serve her well.
The singles largest factor contributing to this transformation is Technology. Mobile devices have truly democratized technology spawning the Last-Minute Economy in the mobile-first India. Even a couple of years ago, businesses such as Ola, Zomato, Grofers, Furlenco, and Zoomcar which are thriving today were unthinkable. The Indian government is responding to the new consumer demands by driving programs such as ‘Digital India’, ‘Skill India’ or ‘Smart Cities’ which are anchored around Technology.
Isn't it then time we re-imagine advertising in a mobile-first India? Advertising’s core objective was always to help consumers & businesses discover new products and services to make smarter choices. However, advertising across mediums (TV, Print or even Digital) evolved over time to become interruptive & intrusive. The one-way monologue which advertising leveraged has failed to evoke trust.
Technology has also pushed us to junk old school approaches of segmentation and targeting. Traditional classification on SECs, income groups & education levels needs a fresh re-look and has to address new realities in a mobile first world. Today, a consumer’s profile can be understood from her mobile device ownership, location and mobile apps she owns and uses. For instance in traditional marketing a 35 year old lady in Mumbai and an 18 year old girl in Surat are bucketed in different advertising segments. However, both may be ‘fashion enthusiasts’ splurging their disposable income on impulsive shopping through commerce apps. Brands & products need strategies to start appealing to new audience segments and personas for Deal Scavengers (having a lot of coupon apps), Social Stars (spending lot of time on social / messaging apps) or App Junkies (downloading a lot of apps/games). Even the audio video consumption category that enjoys 50%+ share of Ad$ (TV Ad spend today) should take into account new mediums of on-demand channels and online video. The question then is if old measurement metrics of reach & frequency make sense in this new world order?
While the path is unclear, the destination is vividly clear; and the choice even clearer. Advertising has to evolve to provide a fine balance between data and design in this ‘New India’.
Come join us on the 5th of August when we embark on this uncharted territory launching Miip for India. Miip will play a pivotal role in enabling the mobile-first Indian consumer and will shape the evolution of the Indian advertising industry in the decades to come. At this event, we will share our vision, demonstrate the power of the new platform, and elaborate on ways in which it will drive change in the industry. Join us on this journey, where we are disrupting traditional beliefs and practices as we Re-imagine Advertising.