'We Are Living The Future Of Yesterday, Right Now'

The Indian advertising industry has evolved from being a small-scale business to a full-fledged industry. The advertising industry is projected to be the second fastest growing advertising market in Asia after China.

Tripti Lochan, CEO, VML (India & SE Asia), has been with VML Singapore since 2005, and has led the agency as chief executive officer since early 2008. Tripti has been a driving force behind VML's expanded capabilities in digital and mobile, and has driven her team to become a top integrated marketing agency in Southeast Asia and India sheds insights to the future of advertising and marketing in India in an interview with BW Businessworld.

How has the 2017 budget played an impact on the media and advertising industry?
The government is working to develop the nation and in the past two years they have focused on progress so the budget is a validation of their intent. Demonetization has affected everyone in the market, especially the small vendors. It is an issue of the government's intent to develop a cashless economy. This government is now pushing a digital experience that percolates to devices like smartphones. It will change the entire ecosystem of what's happening in India. The advertising and marketing industry has been affected because of this step as the rural economy has been hit. It is significant as 70 per cent of the population lives in rural areas and pushes digital content, infrastructure and customer experience.

How is visual advertising going to be a game changer with respect to the future?
The 3G and 4G penetration has reached the targeted levels in India very quickly. Social media platforms are pushing video consumption and the novelty of visual advertising is fresh in everyone's minds. The proof of the pudding is going to be when we are going to use that to drive business results.

What is the next step for quality content marketing?
My favorite example of quality content marketing is Amul. Because of this brand India has been leading quality content marketing since ages because it was topical and the brand could insert itself into everyday conversations. Relevance of brand is very important when content marketing is talked about. Content marketing is the right place to focus because consumers have gone ahead of the curve and don't want advertisements without relevance to them. Marketers and brands need to figure out the relevance of the product to consumers along with the piece of content that is created and the ideology behind sustaining it.

How will virtual reality gain the expected response to boost brand experience?
We are living the future of yesterday, right now. The trends of today that seem like the trends of the future are already in our lives. Virtual reality is not futuristic anymore. Brand experience is all about the continuity in the journey a consumer has with a brand and the experiences the consumers demand from virtual reality are relevant with today's times. Marketers and advertisers aim technology towards consumers in the space to derive a new definition of customer experience with respect to the brand and customer satisfaction.