In Conversation With L'Oréal's Asmita Dubey, Noise's Gaurav Khatri & More | EXCLUSIVE | CNBC-TV18

Summary

The video features a discussion on the evolving media landscape, with a focus on growth, digital adoption, and the role of agencies as strategic advisors. The speakers emphasize how companies in Asia, particularly India, are navigating economic challenges, embracing digital transformation, and expanding their capabilities. India is highlighted as a key market with strong talent and significant business growth, especially in digital services. The conversation also touches on market resilience amid recession fears and the opportunities ahead in the Asia-Pacific region.

Takeaways

• 😀 Media agencies are shifting from being commodity suppliers to driving business growth for clients.
• 😀 Asia, particularly India, is seen as a key growth market for the agency, with significant new business acquisitions.
• 😀 India has emerged as a talent hub with deep expertise in data, analytics, and content creation.
• 😀 The digital acceleration in India has led to significant growth, especially in digital spending.
• 😀 The agency is focused on using India's talent for larger regional and global projects, including creating centers of excellence.
• 😀 The APAC region is experiencing moderate but steady growth, especially compared to Western markets.
• 😀 Inflation and other economic pressures are creating challenges but there are still pockets of growth in sectors like CPG and retail.
• 😀 Despite inflationary pressures, the first half of 2022 saw significant business growth for the agency, with clients increasing their investment.
• 😀 There's a cautious approach observed among clients, but the market in India continues to show resilience and recover from initial slowdowns.
• 😀 The agency plans to expand by leveraging India's talent and focusing on larger, more strategic projects within the APAC region.

Q & A

What is the main goal of rewriting the rulebook mentioned in the conversation?

The main goal of rewriting the rulebook is to transition from being just a service supplier to becoming a strategic partner who drives growth for clients, particularly in the Asia market.

How is Asia described in terms of growth opportunities?

Asia is described as a region focused on growth, with all clients expecting growth from the market. Companies are looking for strategic advisors who can help them drive growth rather than focusing solely on cost management.

What role has digital adoption played in growth within India?

Digital adoption has played a significant role in accelerating growth, with increased spending in digital media helping drive expansion. This has led to India seeing substantial business growth and new opportunities.

How much new business did Mindshare win in the last four quarters?

Mindshare won over 1600 crores in new business in the last four quarters, and Mindshare Network reached close to 2000 crores, showcasing strong growth.

Why is India considered a strategic market for the company?

India is considered a strategic market due to its tremendous talent pool and exceptional growth in recent years. The company is leveraging this talent for larger regional projects and creating centers of excellence in key fields.

What plans are there for leveraging India's talent pool?

The company plans to use India’s talent pool to work on larger projects across the region, particularly in areas like data analytics, performance marketing, and content creation, to benefit both the local and global networks.

What is the company's view on the economic challenges in China and India?

While China faces economic challenges, India is performing exceptionally well. India is seen as a growth hub, both in terms of business and talent, and is expected to continue thriving despite global headwinds.

How does the economic outlook in the Asia Pacific region differ from Western regions like Europe and the US?

The Asia Pacific region is experiencing more reasonable growth compared to Western Europe or the US, where caution and slowdowns are more pronounced. Asia is still seeing a positive outlook despite some challenges.

How are clients in India responding to current economic pressures?

While there was initial caution in the first half of 2022 due to inflationary pressures, clients are now starting to invest again in new launches and sustainable campaigns, signaling recovery in some sectors.

Which sectors are showing signs of recovery in India?

Sectors such as Consumer Packaged Goods (CPG), fashion, and retail are showing significant recovery, with structural improvements becoming more evident in these industries.