2021 was a rollercoaster for print & digital advertising: LV Krishnan
With the year drawing to a close, Adgully has been doing a recap of all the major developments across M&E, Advertising, Digital, Marketing, Print, Television, PR & Communications along with leading names in the industry as part of the annual REWIND 2021 series.
In conversation with Adgully, L.V. Krishnan, CEO, TAM Media Research recaps the trends and developments that dominated the digital industry this year, as well as the factors that kept digital and print advertising buoyant in 2021.
What, according to you, are the factors that have kept Digital and Print advertising buoyant in 2021?
While 2020 was a difficult year for the Advertising Industry, the year 2021 was a rollercoaster. Digital advertising accelerated, yet print was not far behind. Sports events like IPL, T20 World Cup, etc., brought in demand for increased ad space in print. The festive period in the second half of the year brought in new cheer for print advertisements. Demand for categories like Automobiles, Consumer Durables, Real Estate, Hospitals, Multiple Courses, etc., spurred growth. 400+ categories grew during January-November 2021, compared to January-November 2020.
The digital advertisement which spurred during the pandemic continued to grow. Content creation and storytelling on digital platforms attracted many advertisers. Brands were now present on all the newly evolving digital platforms to reach their target audiences. These brand marketers even increased their digital spending in the Tier 2 and Tier 3 cities, unlike earlier digital advertisers, and opted for vernacular content and strengthened their local presence.
Understanding the correct media to reach their target audiences, accompanied by key sporting events and festive times, were some of the factors that kept Digital and Print advertising afloat in 2021.
Seven of the Top 10 growing categories on Digital comprise E-comm advertisers. What are the factors that have driven E-comm/ Tech/ IT categories & advertisers to prefer Digital for advertising in 2021?
With pandemic hitting the country, media consumption patterns changed from offline to online media, which, in turn, also changed brands’ media planning. The second lockdown brought uncertainty to the reviving economy. Categories like travel, hospitality, retail, etc., again faced some downside, while E-Commerce companies grew during this time. Consumers continued relying on E-commerce companies for buying their day-to-day supplies to shopping for luxuries as well software that aided their remote working.
Digital advertising, therefore, became stronger. Brands strengthened their online presence by investing more in new technology and infrastructure. This led to an increase in advertisements by E-commerce/ Tech/ IT companies.
Advertisements by software companies increased twice while that of E-commerce - Media/ Entertainment/ Social Media grew by 34% during January-November 2021. Amazon Online India and Grammarly Inc were the top two advertisers during this period.