Mumbai: Reaching the right audience has always been a key challenge in marketing. Addressable advertising is changing that, offering a way to connect businesses with consumers more directly and effectively. Traditional advertising often spreads resources too thinly, failing to engage the intended audience. Through data and technology, addressable advertising targets specific audience segments, making marketing campaigns more effective and enhancing customer experience. The panel discussed addressable advertising, how it works, its benefits for marketers and consumers, and its role in transforming marketing and building experiences that matter.
At India Brand Summit 2024, held in Mumbai, the session was moderated by Good Ants Media founder & CEO Parul Menghani and the speakers were Kotak Life EVP & head of digital business unit, Prasad Pimple, Tata Communications global head - Digital, Experiential & Content Marketing, Saugata Bagchi, and Donear Group, AVP Group Brand Marketing, Aakash Mishra.
Parul kicked off the session by asking Saugata the challenges that needs to be addressed in addressable advertising to which he said, “Addressable advertising and programmatic advertising share some similarities but also have distinct differences. Addressable advertising focuses on delivering targeted communication across various multimedia channels, while programmatic advertising showcasing the automated buying and selling of ad space. Though they often work together, addressable advertising encompasses a broader range of media, including connected TV and out-of-home (OOH), which programmatic may not always target depending on the campaign.”
He further delved into the global and local marketing efforts, as it is essential to consider cultural nuances; strategies that succeed in India may fail in Spain, and vice versa. Language barriers also play a crucial role; contextualization goes beyond simple translation to include understanding and respecting cultural sensitivities. Additionally, regulatory differences can impact marketing strategies; for instance, certain advertising approaches might be more permissible in one country than another.
Moving on, Prasad said, “f your goal is to connect with your audience rather than just focusing on metrics like website visits, you may miss out on immediate customer engagement. Therefore, if your objective isn't just about these numbers, you should consider top-of-funnel metrics like awareness and consideration, which are also measurable. Ultimately, the focus should always be on the overarching goal of the brand. At the end of the day, everyone is concerned with return on investment. With the rise of digital strategies, tracking this becomes more accessible.
Aakash emphasised on how effective targeted or addressable advertising isn't only about placement; it’s also about the content of the message. “I've been part of this organization for nearly a year, and it's easy for competitors to hire a brand ambassador. For example, why focus on celebrities like Shah Rukh Khan or Ranbir Kapoor endorsing products? They command millions, but we need to rethink our approach,” says Mishra.
The panelists and Parul brought a delightful energy to the discussion on addressable advertising. Each panelist contributed unique perspectives, sparking thought-provoking dialogues that illuminated the evolving landscape of advertising. Parul skillfully guided the conversation, ensuring that all voices were heard and that the discussion remained informative.
