MediaMonks is a global creative production company that partners with clients across industries and markets to craft amazing work for leading businesses and brands. Their integrated production capabilities span the entire creative spectrum, covering anything you could possibly want from a production partner, and probably more.
From creative campaigns and content to bespoke development and design, MediaMonks works above the line and below the fold at the intersection of creativity and technology.
In July 2018, MediaMonks joined forces with S4 Capital to build out the production platform of the future. Under the direction of Sir Martin Sorrell, MediaMonks is increasing its firepower on all fronts, adding new Monks, monasteries, and services such as data analytics and digital media buying.
Poran Malani, Country Head, S4 Capital talks to us on MediaMonks growth, ADEX and way forward
2020 was something which most of us must have never envisaged, now the second wave has hit us, what are your thoughts on the business front and how is MediaMonks coping?
The second wave has of course been more devastating in so many ways. Each and every one of us has been personally affected. There is certainly going to be some long term psychological impact here that will further affect how people begin to face normalcy again. While last year we saw issues on the supply side, this year demand is impacted. Demanding the question, will people buy and relate the same way they used to. Some very serious consideration will have to be made here. From our perspective things have been embarrassingly good, the need to be more digitally focussed, to go from transaction to the emotional connect within the digital space has helped accelerate our business. In fact we have grown approx 60% 6 months into 2021. This year, the need for innovation in our space is gathering pace.
How have you gone about in this second wave in keeping the morale of your employees?
Well this has been the most important part- health and safety followed by business continuity. We have spent a lot of effort here, from creating small groups who can watch out for each other, securing vaccinations, adding 24/7 medical advice and accessibility, but more importantly recognising and supporting without question when it has been needed. We have worked closely with our clients and even competitors to share experiences, practices all in the spirit of helping each other and learning from what each of them are doing. Could we have done more, undoubtably, there is always more to do. But having a clear focus of where we are going, keeping people involved and ensuring support where it is needed has been the priority.
What are some of the initiatives Media Monks is doing to help their employees during this time of crisis?
We have attacked this from many sides. We have set up a fund to ensure anyone needing immediate financial assistance is not left stranded and can concentrate on securing medical help. We have a 24/7 medical advice and helpline that can understand our people’s concern, offer the right doctors’ advice and further decode all the jargon that comes with this evolving disease. We have set up ‘Friend Network’ small groups of people living in the same vicinity who can check on each other daily, and help if required. From care packages with goodies to declaring an off mid-week, we ensure there’s something to look forward to. We also have a CovidCommittee, which monitors the situation and ensures everyone gets their vaccinations. The most important thing is to keep people busy and involved in work. We all need to keep going and to focus on the light at the end of the tunnel, which thankfully is getting closer by the day.
How are you now strategizing Brand Communication in the new normal?
Personally I hate the phrase “new normal’ by definition it is now normal but yes we are really looking at the new consumer and business psychology and how that is changing by sector/ industry. We are seeing some very clear trends in demand and brand needs, and of course the level at which data and involving digital experiences are critical in building brand reputations within existing and new communities
We have seen a global slowdown now, thanks to the pandemic last year and with the second surge now, how are you envisaging India’s ADEX growth?
Overall we would have to break this down. Only two years ago digital spend stood at 25%, currently it’s around 35% and we see this rising rapidly over the next few years. The shift is not a knee-jerk reaction but a fundamental strategic shift. So while overall budgets may stay flat we see big growth in digital. We also see growth in demand from abroad for leading-edge digital work from India.
What are some of the trends you are witnessing in the way Brands are now communicating in the new normal?
What real data-driven digital allows you to do is talk differently, engage, differently with varied and smaller communities and that is what we are seeing clients do more and more of. The opportunity now with combined creativity and use of tech innovations means you can actually deliver content to the right people at the right time. This in turn helps with building first-party data which clients are seeing more and more value in.
Digital v/s Traditional Media …your thoughts?
The balance is shifting; there is no doubt about that. The traditional view used to be that big ideas sit in traditional media while digital is for tactical almost direct marketing. I am not sure that is the case anymore, while there will always be a need for big ideas, they are limited to the old legacy TV spots. You will find many of the great engagements and brand building activities in the digital ecosystem and that is only going to accelerate.
Your Focus for 2021
Growing, adding more skills. There is so much to do in the digital space. With 200 people now after only one year of operation we believe we have only just scratched the surface.