Online video platforms need to be more advertiser-friendly: Jyoti Bansal
For Jyoti Bansal, CEO, PHD India, Voice, focus on data & human intelligence, responsible brands and responsible marketing are some trends that will dominate in 2020.
What were the few big changes that you think were of importance in 2019 for our industry?
We’ve stopped talking about the data story to marketers since it is essentially the current that powers the entire digital ecosystem. Not only is it being used to enhance decision-making, but also to inspire creativity. OTT is coming of age and payment models are getting more creative and consumer-centric. There is also the increasing trend of podcasting. Lastly, the talk of Digital Detox at one end, and yet continued digitisation on the other.
What are the big changes you are expecting in 2020?
- The return of Voice – in terms of search, podcasts and voice recognition.
- Data and human intelligence will increasingly come together to build even more amazing and relevant experiences for consumers.
- The sustainability and wellness economy will continue to grow. Consumers will shift preference to brands who are seen to be more responsible.
- Marketers and Agencies will seriously up-skill, cross-skill and re-skill their talent towards roles of the future, which merge machine power with human creativity. Marketers are looking at new models, whereby the agency is the custodian of not only their communications, but also how to use the data generated by these communications to their businesses’ advantage.
How has the consumer behaviour changed with the introduction of tech-based marketing?
From ad avoidance and ad blocking to actively opting in for information that is important and relevant to them, consumers operate at various ends of the marketing communications spectrum.
Additionally, as an industry, we are also creating a bubble, whereby consumers are being exposed to more and more of the same kind of thinking, views and messages. This obviously encourages and reinforces certain behaviours. Responsible marketing, which does not reinforce existing biases through the power of technology, is something we should all look out for.
Are we expected to see some big shifts around data regulation in India?
We already have a framework and most MNC marketers are already following the GDPR or equivalent as adopted by their parent companies.
Compliance is the bigger focus and I do hope to see some action there. Our concern in India is mote compliance and enforcement than regulation as Indian consumers are one of the most liberal in sharing their data.
How do you anticipate the AdEx growth across platforms in 2020?
AdEx will continue to increase on the back of technological innovation and the emergence of new-age sectors. Television needs to drastically reinvent itself, while online video platforms need to become more advertiser- and user-friendly to realise their full potential.