The Advertising Conclave at Goafest 2013 saw Arundhati Bhattacharya, MD, SBI Capital Markets, and Suresh Bandi, deputy managing director, Panasonic India, make the case for performance-based advertising fees and result-oriented campaigns.
In her presentation, Bhattacharya outlined the need for performance-based advertising fees. “Agencies must partner the organisation, explore non-traditional or new media opportunities in the BFSI segment and performance-based advertising (fee) must be brought in. Once the profits increase, that could result in an increase in the advertising budget, so it’s good news for both parties. An ad agency must also be able to understand the ethos of an organization,” she said.
Bhattacharya concluded with a thought for both agency and client, in the context of public sector banks. She said, “One can take out the logo and the bank’s name and replace it with another player. This will make no difference. Advertising agencies need to focus on the strengths of a particular bank and that must be highlighted.”
Bandi explained that while clients are looking for ‘Good, Fast and Cheap’ advertising, they often get only two of the three parameters. “Customers are asking the same of Panasonic. People need value. Results is what clients are truly seeking. They appreciate creativity but do not forget that we are not buying creativity just for the sake of it,” said Bandi.
He added how accessibility proves to be a problem at times. “It is important that agency personnel are accessible to clients. There are occasions when clients need to reach the agencies but that person is not available. Agencies view the entire process in a very transactional manner. Additionally, creative agencies work till late in the night, and therefore don’t make it to office the following day before 11:30 am. We start work at 8:30 am. The timings don’t match,” he opined.
Bandi also touched upon creative heads participating in pitches and then going ‘missing’. He said, “The creative group should participate in discussions. This will lead to the creative adhering to the agreed strategy. The creative must incorporate consumer insights. Communication should also present integrated creative that are extendable over time and across different media.”