The highly competitive advertising industry in India has got one more contender, PM Media Solutions. The firm will be headquartered in Delhi.
Nigam says his agency will address a clear need gap. According to him, there are many media agencies that are not able to offer creative solutions but PM Media Solutions will act as a one-stop source for all the services that any client would need.
Nigam, who will hold the title of chief executive officer of the company, tells afaqs! that the firm has managed to fetch investment from a 40-year old media house in Delhi. In fact, PM Media Solutions is currently working based in this media house's offices in Delhi and Gurgaon.
About the expansion plans of his agency, Nigam says, "We have set our first footprint in Delhi but we will not go to any metro next. Instead, we will expand in Tier II and III cities like Lucknow, Kanpur and Chandigarh."
According to Nigam, categories that will emerge as high spenders in terms of advertising in 2014 include teleshopping, real estate, education, jewellery and astrology. PM Media Solutions' aim will be to tap these categories, besides the usual ones.
"The challenges today in the advertising industry are manifold. Delhi is a very competitive market and contributes over 60 per cent of advertising money. If one is adequately equipped with the services, is passionate and provides personalised services, he can go a long way. About this we are confident," he adds.
Currently, the company has 10 employees.
Nigam has more than 19 years of experience in the industry. Recently, he resigned from VivaKi Partnerships Unit as COO to turn entrepreneur. He had joined Starcom MediaVest Group in 2007 as executive director before and took the role of VPU COO in October, 2012.
Before joining SMG, he was with GroupM for several years. He had also worked with Mindshare from 1999 to 2004 as investment director, with Maxus from 2004 to 2006 as senior business director and with Mediacom from January 2007 to March 2007 as general manager.
Earlier, he had also worked with UTV as senior manager (1995-99).
He has a Masters degree in business administration (marketing) from Philippine Christian University.