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Partha Sinha, president, The Times of India Group, addressed an audience at an event hosted by WARC and The Times of India on 13 October.
Sinha’s talk centred on the critical role of creativity in ensuring a brand’s success in the contemporary business landscape.
The decline of creativity’s effectiveness
In his opening remark, he shed light on the evolving dynamics of the advertising industry. He highlighted, “Creativity-awarded campaigns are now less effective than ever. This decline is due to a shifting focus toward short-term activation, where instant gratification often overshadows the long-term potential of creative campaigns.”
Providing insights into how brands can harness the power of creativity, he emphasised the need to strike a balance between efficiency and effectiveness, stressing that the focus should be on achieving brand objectives without compromising on creativity’s impact.
Sinha underlined the intent of reaching new cohorts in the endeavour to scale the brand.
“The importance of expanding a brand’s reach to new demographics and exciting potential customers is essential. Stagnation in target audiences can hinder growth and brands must adapt to ever-evolving consumer behaviours”, he stated.
Role of high performers and striking a balance for long-term growth
Sinha also discussed the significance of learning from high-performing campaigns.
He remarked, “Data-supported findings show that high-performing campaigns are significantly more effective, making it crucial for brands to study and emulate their success strategies.”
He also called out brands to adopt a more balanced approach to their short-term and long-term objectives. He stressed that maintaining this equilibrium would help brands remain relevant and successful.
“There should also be a balanced allocation of resources for brand building and sales activities. If there is an overly disproportionate allocation it can hinder a brand’s effectiveness”, he voiced.
The role of storytelling, AI and tech
Sinha shared that storytelling is at the heart of brand success. He emphasised, “A brand’s story, rather than its product or financial backing, is what truly resonates with the audience.”
Sinha shared insights from a conversation with Sam Altman, a leader in artificial intelligence, highlighting how AI has led to a reassessment of human intelligence.
He stressed, “There is a need for brands to recognise that intelligence is a property of matter, which has implications for the way brands interact with consumers.”
Sinha concluded by urging brands to ask two essential questions: “Do you have an idea and can you make it famous,” and emphasised that clarity on these points is fundamental for brand success.
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