With the approach of the New Year, it is time to recap some of the industry’s major developments in 2021. When compared with 2020, the year 2021 was much more resilient.
The CEO of Ipsos India, Amit Adarkar, talks about the developments and trends that prevailed in the Indian digital and advertising industry during 2021. He also talks about his expectations and projection for the new year 2022, which are given below:
Key Developments in 2021
For the tough year of 2021, marketers reduced their marketing and advertising spending to prepare themselves for another year of disruption and economic slowdown
Marketers had to spend their bucks wisely and became more targeted and purposive. There has been a major increase in digital usage. Consumers were fixed to their digital devices for work, entertainment, and spending and marketers took advantage of these spaces to engage with their key audiences.
Traditional advertising vehicles like TV and Print had taken a heavy hit during the pandemic, which saw increased expenditure in digital vehicles like social media, OTT, and apps.
Twitter became the go-to medium of engagement for breaking news. Consumers are short on time, and Twitter is a faster medium for conveying information. Marketers have been using promotions here to connect with their desired target groups.
Advertising has seen an increase across all media, whether it be TV, newspapers, billboards, or online for brand launches and promotions.
And the communications conveyed have been all about wellbeing, compassion, equality, inclusion, and health. The pandemic has served as a great equalizer. The communications that display superiority over others and bias have been toned down.
Outlook for 2022
Omicron has arrived on our turf at a time when the marketing and advertising industry is looking for a recovery. Although the variant is highly infectious, according to the WHO, it is supposed to be milder than its previous incarnations. And with the number of infections now increasing steeply, strict measures are needed to avoid the spread of the virus.
The traditional mediums of advertising like television, cinemas, newspapers, and radio are looking for some much-needed recovery. Channels like OTT, social media, and news apps will continue to grow. The pandemic has led to a mind-blowing increase in OTT viewership.
Brands need to work with causes and be authentic. They need to innovate and gear up for the new environment and consumer expectations.