MUMBAI: Starcom MediaVest Group has been awarded the prestigious I-Com Data Creativity Award for their media analytics work on Axis Bank in India. I-Com received more than 80 award submissions from various agencies across the globe and ten shortlists were invited to the Global Summit in Seville for the final round. SMG India was represented at the 5th I-COM Global Summit 2014 by Aarti Bharadwaj, VP, SMG India Data &Analytics.
“This win is a milestone for the analytics practice within SMG,” said Malli CR, CEO, SMG India.“SMG India has emerged as a center for product development and thought leadership in analytics that is then scaled across the globe. The India team has executed complex marketing analytics projects for SMG offices in India, the United States, the United Kingdom, Australia, Philippines, Singapore and Indonesia.”
SMG India is focused on digital, content and analytics at the core of what it offers to its clients with a belief that precision marketing, scaled content and innovation fueled by real time data and analytics are central to the future of the industry.
SMG’s pioneering work in this area provides a possible measurement system that helps brands evaluate all media, traditional and offline using the same metrics. This addresses a major gap in the media industry: marketers are familiar and comfortable with the measurement metrics of traditional media using GRPs, reach and frequency. Digital, as a medium, is highly measured, and with a great level of accuracy. However, the measurement metrics of digital are not comparable with the metrics of traditional media making the comparison of efficiency metrics across media highly challenging.
SMG’s winning work with Axis Bank used advanced attribution modeling techniques to derive a framework that captures the impact of paid, owned and earned media on business, be it sales or salience, in a mesh of direct and indirect effects. The framework, therefore, evaluates the role of all media investments by the brand in terms of effectiveness in driving business. All media, be it traditional or digital media, are evaluated in terms of their relative contribution toward business, enabling comparison across media.
Speaking of their future forward signature POEM approach, Bharadwaj said: “The well-researched consultancy rendered to our clients has helped allocate investments so as to optimize paid media while also amplifying owned and earned media content. We are extremely proud to have won GOLD at an esteemed global platform like I-COM Data Creativity Award this year for Axis Bank.”
Delighted at the win, Mr. SagnikGhosh, Head Marketing, Axis Bank extended his compliments to the team stating, “ There were some very interesting observations &learnings that came through the POEM analysis done by SMG India. For a Bank of our size and presence, it is important to understand the attribution that goes towards the Owned Medium Vs. Paid or Earned. We have a large presence on ground through over 2,300 Branches and over 12,000 ATMs, which is itself of tremendous media value. We also have a robust digital presence through our website, online banking and social media assets. It was important to understand what contributes towards building the brand. We have taken some of the learnings on board and are in the process of making some changes to our media mix. "