The Advertising Agencies Association of India (AAAI) and the Internet and Mobile Association of India (IAMAI) have entered into a partnership in a bid to develop the digital advertisement business that comprises banner, classified and search marketing.
The AAAI is the official national organisation of advertising agencies, consisting of about 100 members and is recognised as the official body representing the advertising industry at all forums, while the IAMAI is the representative body of Internet and mobile value added services companies, including all leading online publishers, in India.
The tie up is seen as a step towards better business practices and processes and putting in place a streamlined payment process for publishers as well as agencies.
The terms of reference for the partnership will cover different aspects, including ensuring accelerated and systematic growth of digital advertising; establishing a system of timely payment; setting up standards and norms for digital advertisements; and ensuring fair pricing and rates.
The association has been welcomed by professionals in the advertising and telecom industry alike.
Ajay Chandwani, director, Percept Ltd. tells afaqs!, "Naturally, AAAI will benefit from the expertise of new media, while IAMAI needs AAAI just as much. It is a win-win situation. The association will definitely benefit both digital and conventional advertising."
"It is a step forward as the importance of digital and mobile in communication is being recognised. One can see that in the recent years, digital has been playing a critical role in communications. Digital is becoming increasingly more significant in marketing and it is great that AAAI and IAMAI will work together," says Lloyd Mathias, chief marketing officer, Tata Teleservices.