With many of the digital environments functioning in silos, companies are looking at building a first-party data ecosystem
As companies navigate through the current crisis, the need for marketers to have a unified measure of their ad spends across several platforms holds utmost importance. “Many of the digital environments function in silos. For instance, Facebook, Google, Amazon are ecosystems in itself and the data within them remain with them. Add to this, regulatory constraints are further adding pressure on these platforms especially in terms of brand safety. This has led to a shift in focus of companies on building a first-party data ecosystem and knowing their consumers in depth. This is more like creating a neutral environment,” Tushar Vyas, president, growth and transformation, GroupM South Asia said. He was speaking at the 21st edition of FICCI Frames 2020.
The unified measure, however, poses a challenge in terms of the agreeable matrix around digital and television. Vyas pointed out the concerns on the equivalency between one impression in digital versus one impression on TV. He further highlighted how if unified, the activation will still remain a problem because one is broadcast medium and the other one is more targeted medium. “One of the ways it can be solved is if all of the environments become connected environments,” he noted.
According to Sunil Lulla, chief executive officer, Broadcast Audience Research Council (BARC), the media and entertainment industry must look at building interactivity in order to enable the ad rates to grow in the post-pandemic world. “Today, many of the fiction shows have certain digital avatars that allow you to interact with them. It’s how you build that interactivity and maybe it’s at the premium end that will allow you to benefit in the longer run,” he added further.
Lulla also highlighted the importance of traditional medium despite the rise of digital platforms over the last few months. “DTH still caters to a very large audience in multiple languages. Today, a lot of people may be accessing content digitally, but I think the larger households will still consume content on TV,” he added. He cited the example of Ramayan coming in after 1986 and becoming the most-watched show in the world overtaking Game of Thrones. The show, according to him, started with two advertisers and closed with 48 which showed that there is a belief in the power of the medium.