Peach, formerly Ebus, has launched a first-of-its-kind video asset management research in the Indian market, calling for a change in advertising workflows as 60 percent of the tasks are done manually.
The report, commissioned in collaboration with Kantar, the marketing data and analytics company, is an exclusive report on video asset management in the market. The findings highlight vital challenges faced by the leading brands, agencies, and advertisers while delivering advertising campaigns. These challenges include adverts to be released on time, in correct formats, and via planned avenues, while ensuring adherence to content, brand safety measures, and accommodating continued performance measurement while creating a video advertising campaign. The challenges have been collated based on qualitative in-depth interviews that were conducted amongst brand and agency personnel across Delhi, Mumbai and Bangalore.
The report broadly shares the holistic solutions for different types of challenges like- ‘Complex workflow’, ‘Stakeholder collaboration’, ‘Asset Management’, ‘Performance Measurement’, and ‘Consolidated Reporting’.
Peach stated that the industry needs to note these challenges and openly discuss how to create more efficiency and effectiveness in the advertising workflow. India’s ad spending growth rate is predicted to grow by a Compounded annual growth rate (CAGR) of 15pc to INR 1,13,575 Crores in 2024, making it the fastest-growing market globally. While approximately 40pc of ad spend in India is via television, and 35pc focus on digital, the latter percentage will only rise, so brands, agencies, and advertisers must be on the front foot to address these challenges and create solutions.
Andy Gilroy, VP APAC, Peach, said, “We are excited, with our partners Aidem, to share this research with the Indian market. It is groundbreaking in identifying how much time can be wasted on manual tasks in the current ad workflow and highlighting the opportunities to implement digital workflow solutions, freeing up time for creativity and ensuring value for money.”
Gilroy, adds, “We are calling for the industry to stand up and acknowledge these challenges and to talk openly about how we can collaborate to make the creative video ad workflow more streamlined. Multiple stakeholders are involved in the ad workflow process, so there is a huge opportunity to drive campaign deliverables without wasting time on manual tasks. Let’s use the technology that is available at our fingertips.”
View the report here.