Brands need to move beyond media targeting & create appeal targeting

The year 2023 is being called a transformative year for the industry. This was a year when DeepTech ruled supreme and dominated non-technical fields such as media, marketing, advertising. Generative AI is bringing disruptive shifts in the way the M&E and advertising industry operates.

As the year comes to an end, the usual practice is to take stock of all the key developments and trends, and look back at the ways in which the industry progressed, as well as the challenges that put the spanner at the works.

The last GullyChat episode of 2023 is dedicated to focussing on the trends and developments that shaped the M&E, Marketing and Advertising industry in 2023, and will have long-lasting implications. Aptly titled ‘Flashback 2023’, this episode of GullyChat features experts and leaders from diverse fields to provide a 360-degree view of the industry in 2023:

Angad Singh Manchanda, Co-Founder, Chimp&z

Delphin Varghese, Co-Founder and Chief Business Officer, Adcounty Media

Gulrez Alam, Founder, Teamology

Naresh Gupta, Co-Founder BITM

Nisha Singhania, Co-Founder, Infectious

Rahul Khurana, Founder, Kit Global

Rohit Agarwal, Founder, Alpha Zegus

The session commenced with understanding the key insights, trends, and developments that happened during 2023, which could have an impact on 2024 as well.

According to Angad Manchanda, “We saw significant shifts like the rise of social commerce, and purpose-driven content. Authentic storytelling, personalization, generative AI & ML reshaped online interactions. Privacy rules gained prominence, and CGI trends like AR and VR became key.”

“The year 2023 has taught us many things. AI has become a reality and is here to stay. There is an increasing shift towards personalisation and hyperlocalisation. We saw honesty and transparency over hyperbole and naarebaazi,” noted Nisha Singhania.

“In terms of esports, we have seen prize pools exceeding Rs 1 crore, endemic brands are well over $1 million, and more than 20 non-endemic brands are investing in this space. After the slowdown in 2022, there was recovery in 2023, and 2024 looks better than ever,” said Rohit Agarwal.

Delphine Varghese noted, “The year 2023 witnessed the sudden rise of short video form content on TikTok and Instagram. The surge in AI led to hyper-personalisation of user experience. In 2024, marketers will continue to use AI to augment sophisticated data-driven strategies.”

“It has been a dynamic and transformative period across industries. Technological advancements, shifting consumer behaviours, and global events have collectively shaped a landscape that demands adaptability and innovation,” remarked Gulrez Alam.

Rahul Khurana mentioned, “The year 2023 has shown me the different side of the marketer – the impatient side where everything was about the bottom funnel impact.”

“This has been a year of transitions and experiments in using tech. The days of one-size-fits-all got over a long time back. Today, the states are full-time economy, and brands have large markets in small pockets. Brands need to move beyond media targeting; they need to create appeal targeting and idioms that work,” stressed Naresh Gupta.