Advertising firm Ogilvy launches consulting arm in India
As the advertising market in India enters a period of monumental growth in investment, global advertising agency Ogilvy has launched its consulting arm – OgilvyRED – in the country. The firm will operate out of an office in Mumbai, with a focus on growth and digital transformation.
India’s media and entertainment (M&E) industry has been deemed to grow exponentially by a number of consulting firms in the country. Earlier this year, Big four professional services firm EY released data, predicting that the industry was due to grow at 12% over the next five years, doubling in size to reach a value of $35 billion (Rs. 2.3 lakh crore) by 2021.
Similarly, a report from management consultancy Boston Consulting Group (BCG) suggested that the industry would double in size, placing the value at Rs 2.5 lakh crore by 2022. Such high levels of growth in the M&E industry are usually accompanied by a growth in advertising expenditure, as businesses attempt to exploit the expanding customer base.
In keeping with the increasingly digitalised population of the country, fellow Big Four firm KPMG predicted that the digital advertising segment, in particular, was set to hit a staggering value of Rs. 19 lakh crore over the next five years, growing at a compounded annual growth rate of 31%.
It comes as no surprise, therefore, that one of the leading advertising agencies in the world, Ogilvy, has launched their consulting arm in India. As firms seek to exploit the growing advertising market, they will increasingly turn to the consulting industry for strategic advice on how best to capitalise on their investments.
OgilvyRED will provide advice of precisely this nature. The firm possesses expertise in strategy and innovation, and promises the complete digital transformation of a client’s practice, while simultaneously building up its brand-value, market legitimacy, and customer-base. With this objective, the firm divides its operations into five practices, namely digital transformation consulting, data analytics, technology innovation consulting, and e-commerce.
Sonia Khurana, an expert in advertising who has worked with Nokia in the past, will lead the Indian operations for OgilvyRED, having also been appointed as Senior Vice President at the firm. Meanwhile, Debarghya Das will act as Principal Consultant for the marketing team, and Rohan Jaiswal will lead the data analytics team as Senior Consultant.
Commenting on the move, CEO of Ogilvy India, Kunal Jeswani said, “Now, more than ever, brands need to take a transformative approach to connect with consumers. There are many challenges that our clients face today that cannot be solved by a traditional agency approach. Ogilvy has a long-standing history of helping clients stay ahead of the curve when it comes to all things digital. Now, with OgilvyRED, we have the unique ability to investigate every aspect of consumer experience and influence it deeply. The world of ‘consulting’ has always been about strategy devoid of any accountability for execution. The difference with OgilvyRED is that it is digital transformation consulting that is deeply tied in with Ogilvy’s ability to execute with creativity, impact and speed.”
