Honchos expect ad industry to leap 20%

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Mumbai, Jan 2: What will really work in the Rs 16,300 crore Indian advertising industry in 2008? Is the industry poised for further growth? The key for effective advertising is going to be the ability to provide seamless integrated communication to clients, according to chief head honchos of leading ad agencies in India.

Piyush Pandey, executive chairman of Ogilvy & Mather (India) predicts the industry will register a 20% growth this year as ad spend is likely to go up in key sectors such as retail, telecom, financial services and automobiles. Ranjan Kapur, country head of WPP also sees a bright future for the industry and expects it to clock a double digit growth in the new year. “I think the non-traditional media will play a vital role in boosting the industry’s growth. New media& digital communications, activation, direct marketing will be the major contributors (30 to 35 % ) for the sector’s growth in 2008, “ he added.

Sharing similar sentiments, Prasoon Joshi, executive chairman of McCann Erickson(India) observed the growth will primarily come from below-the-line activities in 2008. “There will be an increase in the industry’s growth provided we find a profitable business model. I think the retail sector will be a major growth dirver in 2008,” he opined.

The optimism on the growth front seems to be shared by most ad pundits. Madhukar Kamath, chairman and managing director of Mudra Communications predicts the new year is going to be a very exciting year in terms of growth and solutions. “The formula for success lies in media neutral ideas, media rich execution and creative business solutions. I think sectors like telecom, financial services, automotives and heath care will drive the industry’s growth in 2008,” he said.