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Decoding media buying and its digital transformation with Mindshare's Amin Lakhani
As digital shifts gears to become more and more prominent, here's what the CEO of Mindshare thinks of modern media-buying.
Media buying has undergone profound transformations in India, catalysed by key evolutionary epochs such as the Satellite Revolution, Telecom Revolution, and Data Democratisation over the decades.
For instance, during the Satellite revolution, the proliferation of channels ushered in a new era of choice and diversity for consumers, challenging advertisers to rethink their approach. Media buyers adapted by exploring innovative placement strategies to cut through the burgeoning clutter, leveraging the expanding array of channels to target specific audience segments.
Subsequently, the Telecom Revolution marked a paradigm shift in consumer behaviour and engagement, presenting both challenges and opportunities for media buyers. With the rise of mobile phones and increased connectivity, consumers have become more accessible but also more discerning in their media consumption habits.
Media buyers responded by capitalising on the mobile-first approach, crafting tailored campaigns to resonate with audiences on the go. The advent of interactive and engaging formats, coupled with data-driven insights, empowered advertisers to deliver targeted messaging, driving higher engagement and conversion rates.
To oversee all of these paradigm shifts, was Amin Lakhani, who is the CEO of Mindshare, South Asia. Lakhani has been in the industry for more than two decades. In a session at Digies 2024, hosted by afaqs!, Lakhani took to the stage, chronicling his personal journey, and the journey of the media buying landscape through recent history.
In a keynote address, Lakhani discussed the evolving landscape of media, reflecting on his personal experiences and the seismic shifts that have shaped the industry. The session saw Lakhani's insightful breakdown of four distinct eras: Doordarshan, Satellite Revolution, Telecom, and Data Democratisation.
Born into the era of Doordarshan, Lakhani recounted the transition to the Satellite Revolution, highlighting the emergence of groundbreaking television programmes such as Tara on Zee TV and the iconic nonfiction show KBC on Star. With the proliferation of channels, including a burgeoning array of news, movies, and regional content, Lakhani underscored the exponential rise in clutter, posing a formidable challenge to advertisers.
Reflecting on this era, Lakhani remarked, "The Satellite Revolution unleashed a wave of diverse content, but it also intensified the competition for audience attention, compelling the industry to innovate and rethink engagement strategies."
Our strategy was to break through the clutter and rapidly establish brand awareness. This marked a paradigm shift in integrated media deployment, setting the stage for transformative campaigns in the telecom sector.
Amidst this dynamic landscape, Lakhani narrated the groundbreaking launch of Vodafone, a campaign characterised by unprecedented success. Collaborating with the Star Network, Vodafone embarked on an innovative approach, saturating the network with its brand across multiple channels. Lakhani elaborated, "Our strategy was to break through the clutter and rapidly establish brand awareness. This marked a paradigm shift in integrated media deployment, setting the stage for transformative campaigns in the telecom sector."
Transitioning to the Telecom era, Lakhani delved into the consumer behaviour insights that shaped campaigns such as the Wheel Missed Call initiative. Leveraging the phenomenon of incoming call preference among Indian consumers, the campaign garnered remarkable traction, prompting emulation by industry giants like Unilever.
"The Telecom era ushered in a new era of consumer engagement, driven by data insights and innovative campaign strategies," Lakhani affirmed.
Data Democratisation revolutionised marketing, enabling brands to decode consumer intent and craft targeted campaigns
Subsequently, Lakhani explored the transformative impact of Data Democratisation, fuelled by affordable data and increased smartphone penetration. This era witnessed a surge in content consumption and social media interactions, prompting brands to harness the power of data-driven insights.
"Data Democratisation revolutionised marketing, enabling brands to decode consumer intent and craft targeted campaigns," Lakhani observed.
In the digital age, complacency is obsolete. We must embrace a culture of continuous learning and innovation to thrive
Drawing from his experiences, Lakhani emphasised the imperative of embracing digital transformation. He underscored the need for a paradigm shift in mindset, operational frameworks, and talent acquisition to navigate the evolving media landscape effectively.
"In the digital age, complacency is obsolete. We must embrace a culture of continuous learning and innovation to thrive," Lakhani asserted.
Touching upon the debate of transformation versus automation, Lakhani elucidated the distinction, advocating for a holistic approach towards digital transformation. He urged industry stakeholders to challenge the status quo and embrace legacy approaches to drive sustainable growth.
"As we embark on this transformative journey, let us recognise that AI complements human ingenuity, and digital evolution is an ongoing process," Lakhani remarked.
Lakhani urged practitioners and industry leaders to wholeheartedly embrace the transformation journey, underscoring the necessity of adaptability and forward-thinking in an ever-evolving media landscape.