Focus on creativity and not just research, say ad experts
09 Apr 2010
In the face of a recession, the Indian advertising industry must begin to look for innovative ways to rejuvenate itself, according to industry experts at the Goafest 2010 advertising conclave that got under way today at the Cavelossim beach. With the theme 'Survival of the freshest', the event is a festival by the advertising fraternity to address the problems and prospects of the industry.
''After growing at nearly 20 per cent year on year for five years, the advertising market dipped in 2009 by as much as 10 per cent. Just 0.4 per cent of GDP is contributed by the advertising industry. Its time to grow now and make up for the lost time with sharp strategies and plans to develop brands, markets, creativity, media markets and research,'' said Sam Balsara, co-chairman, Discovery Channel India Leadership Conclave, an event held a day ahead of the Adfest Goa.
The first day of the two-day Adfest began with 3,000-odd delegates participating in the event organised by Advertisement Agencies Association of India (AAAI) and Ad Club Bombay.
Conclave chairman Colvyn Harris said the advertising market is underdeveloped in India compared to many developed and developing countries, despite high growth rates in the last five years. ''It is not growing at a fast enough pace to drive consumption. India has 17 per cent of the world population but only a 0.7 per cent share of the world advertising market,'' he said.
Do we need to re-visit the old advertising business model?" Balsara wondered.
"Research less and pay more attention to creative communications. In fact, you have to give adequate importance to both market research and creativity," advised Piyush Pandey, chairman of Ogilvy & Mather India.
