Day two of the 38th FIPP World Magazine Congress started with a panel of experts discussing what advertisers want from the magazine media. Moderated by Jim James, director, Haymarket Media Group (UK), the panel comprised an advertiser -- Tomas Ernberg, managing director, Volvo Auto India; a media agency head – Vikram Sakhuja, chief executive officer, Group M, South Asia and a creative/event expert – Philip Thomas, chief executive officer, Cannes Lions, UK.
Taking a helicopter view of the entire communication mix, Thomas started the session emphasising the importance of all media to be “creative” as, according to him, clients are increasingly seeing creativity as something that takes their brands and businesses forward. “We have found a correlation between creativity and commercial success. The Advertisers of the Year at Cannes have also been enjoying their highest share prices during that time period, suggesting that consumers pay with their wallets when creativity drives effectiveness.”
Starting his presentation with Group M’s Adex data that shows the share of advertising in magazines in India dropping from 4.5% to 2.7%, Sakhuja said, “Magazines cannot ignore the threat they face from digital and other media. The opportunities are up for taking, but now they need to be grabbed.”
According to him, media owners’ diffidence towards sharing actual numbers is working against them. “It is time to take other mediums head-on and sell what you have working for you: reach and engagement. There is no need to be apologetic about numbers. ”
Sakhuja suggested creating an integrated planning model by which all media can be measured with the same currency. “Of the $6-billion advertising market in India, one-third is targeting upper socio economic classes. These demographics need high engagement mediums and magazines can grab a big share. An apple-to-apple comparison will get magazines the attention they deserve.”
He added that clients are now looking for opportunities where editorial can seamlessly be married to brands without compromising editorial integrity. “Paid, earned and owned content needs to be leveraged better with brands, irrespective of the platform. Activation is another revenue stream magazines should actively monetise.”
Giving a client perspective, Ernberg urged magazines to increase their subscription base which will provide demographic and psychographic data to the advertiser, thus making the platform irresistible.