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| Goafest:Lowe to add new biz ventures in India | | | BS Reporter / Goa April 05, 2008 | | | |
Interpublic Group agency Lowe Worldwide will be adding new business ventures and capabilities in the areas of branding and technology consisting mainly of analytics and mobile campaigning, to Lowe India by next month.
Stephen Gatfield, CEO Lowe Worldwide and executive vice president network operations IPG in a chat with the media at the ongoing Goafest 2008 said "India received the highest capital investment compared to other countries last year by Lowe and this year also we will focus on developing it as a critical global centre for the agency."
One of the main reasons why Lowe would implement these capabilities is because of the changing media space in the advertising industry. "Microsoft is no more just a software company and Nokia not just mobile, similarly Google and Facebook, these are all emerging as media companies. And we need to mould ourselves to accommodate these changes" he said.
Lowe functions with separate divisions for content creation and media buying. He feels now these divisions would have to work together more closely due to growth of new media and changes in viewing of old media. "30 second commercials in US are giving way to short videos due to the growth of online media. We cannot be specialist anymore and be more sensitive to all media forms. Advertisers, hence, like Unilever are also giving greater importance to team work rather than working in strict categories."
According to Gatfield, Lowe India is important for its worldwide operations as it can also be a base to serve many of its international clients. He wants to ensure that the inherent strengths of the Indian market are tapped fully to ensure success.
He also criticized the commission model on which the Indian agencies function and feels the agencies should better value for the idea and the execution to its clients. Commission is not an apt approximation of the value the agencies generate.
Lowe, which stayed away from participating in the Goafest this year, internationally has won two Grand Prix awards at the Cannes in the past and this year was voted among the top ten agencies by the annual Gunn Report. When asked why Lowe didn't participate here, he said "To be able to participate we need to be sure that the judging system is impartial, when we find the right place and the right time to participate we will." | | | | | |
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