Industry experts break down the process of choosing media agencies

The first edition of e4m Confluence 2022, co-powered by ABP News, witnessed an interesting panel discussion on “Integrated Media Agencies vs Digital Specialists: How will the future evolve?”

The panel was chaired by Deepali Naair, Director, Digital Sales Centre, Bangalore, IBM. The other experts included Ajay Gupte, CEO, Wavemaker; Tanmay Mohanty, CEO Media Services, Publicis Media Groupe India; Sonali Malaviya, Managing Director, India, Essence; Prasad Shejale, Founder & CEO, LS Digital, and Shantanu Sirohi, COO, Interactive Avenues - A Reprise Network Company.

The discussion revolved around how companies and clients choose media agencies based on their focus and business plan, and how the consumer journey makes all the difference in choice for a media agency.

Prasad Shejale took the opportunity to explain what integrated agency meant to him. “For me integrated is about putting the consumer in the middle of the whole thing and instead of talking about share of voice, we should talk about share of experiences.”

Speaking about the media agency choice from a client’s perspective, Tanmay Mohanty of Publicis Media Groupe India, said: “We have understood that it depends on where the client is in its evolution, or how their internal structure is. That defines how they need a solution. What I've started understanding is that it is not the media money that matters. It's the experience that matters.”

Putting forward his perspective, Ajay Gupte said, “It is about understanding where the consumer is in his journey and your own, and the consumer actually gives us a lot of signals at every stage. Which is why integration becomes really important. Because the consumer might give you signals at the time of purchase, which will help you at a different part of the cycle.”

Shantanu Sirohi of Interactive Avenues spoke on the role of technology here and its impact. “It just boils down to how much the client wants to break down the KPIs? Our recommendation always is you start the large clients in variables, do well with the integrated agencies. Also, the cost structures change. While people think technology is a great liberator and equalizer, it's not clearly true. It takes a lot of CapEx and internet investment as well before you can say that we are able to pay off your data. So again, it depends upon the scale of the client.”

Sonali Malaviya spoke about how companies and agencies should be working together. “I think everybody here in the room is well aware that the golden age of everybody turning unicorn is a little behind us. Every investor is seeking profitability, beyond just user growth. As you move along that journey, and your consumers and engagement and having a meaningful relationship become more and more important, it is going to become equally important for everybody to move up, and own the funnel. And in that sense, I think all brands that have large growth ambitions and a long-term plan will ultimately go in that direction.”

“As profitability or building a brand is not a one-to-one time job. It is something that you have to try with them. And therefore, the most important thing is you have to have a partner in an agency,” she added.