On May 25, 2023, the second day of Goafest 2023, a masterclass on ‘Media Planning in a Digital World’ kicked off the event.
Sam Balsara, founder, chairman, and MD of Madison World, shared his thoughts on why the digital medium should be used for brand campaigns.
The masterclass featured a presentation in which Sam shared insights such as:
Dramatically changing media habits, with digital penetration increasing by 300 million in the last five years.
More marketers want to target GenZ, the multimedia champion.
The audience’s decreasing attention span is posing a problem for advertisers, who are paying for the audience to view the ad but the audience is not viewing it.
Balsara observed that as marketers operate with the foregoing in mind, “what has not changed is the marketer’s confidence in advertising to build brand and market share.” It has survived, if not grown.”
The discussion shifted to the rise of AdEx as a result of changing consumer behavior due to habits, COVID, low-cost data, and low-cost phones.
“In some ways, digital advertising has democratized entrepreneurship and business by reaching smaller businessmen and even housewives,” Sam explained.
Aside from the power of digital media, Balsara emphasized the shortcomings that sellers and media planners must address-board as intelligent individuals
Spillover TV can reach audiences beyond its intended audience, but digital cannot.
Because it is purchased on a click-per-minute basis, digital is inefficient for a large audience.
Viewability – While TV and cinema provide 100% coverage, digital formats are measured in seconds, digital screens are more cluttered, and dwell time is shorter.
Stating that, “Advertising is all about building brand equity, which is why advertisers are in business,” he advised large brands to incorporate digital in their media plans because of the digital’s unique capabilities and because time spend on TV is coming down.