Adland's Year 2023: As Riveting As Could Get

Oindrila Roy Dec 26, 2023

New Year's Eve this year calls for an extra-large drink as we raise a toast to our incredible industry. If reports are to be believed, Indian advertising has smashed it in 2023, crossing the INR 1 trillion mark. Largely emotional, some humorous, others nostalgic and thought-provoking, we did a great job of sparking conversations that generated record sales across industries - automobiles, electronics, cosmetics, jewelry, chocolates – et al. It is said, this festive season, Indians bought 8 cars every minute! The ad industry didn’t just tell stories. We fueled action. And guess what? The party's not over yet – reports predict 11-12 per cent growth for the advertising industry in 2024! Here’s what made magic happen in 2023 and will perhaps continue to make sparks fly in 2024.

1. Marketing got its stand-up routine

Stepping out of one of the darkest phases of our life, globally, a desire for optimism fueled a shift in advertising towards lighthearted themes to connect with audiences in 2023. So much so, that the Cannes Lions Committee took notice and introduced a new category – to celebrate the art of humour in branded communications. The category will debut in the upcoming season of the Lion Festival. Entries in this category will be judged on their use of wit and satire to provide amusement and create memorability for brands. It’s a safe guess that big ideas that lend themselves to light-hearted conversations will create headlines in 2024.

2. Micro influencers supercharged marketing in 2023

Over the years, marketers have been spending top dollar on big-name influencers. 2023 saw a strategic pivot towards micro-influencers, offering marketers deeper audience engagement and higher ROI. As micro-influencers have smaller, tightly knit communities built around specific interests, it allows brands to target highly relevant audiences with laser-sharp precision. Their recommendations feel more genuine. Additionally, they often cater to regional communities as many of them create content in local languages and familiar dialects resulting in higher conversation rates. Micro-influencers are not a fad. It is a fundamental shift in consumer trust and marketing strategy. They will continue to grab headlines in 2024 with their authentic conversations and brand advocacy.

3. AI’s brushstrokes redefined the canvas of advertising

A brushstroke of the future, generative AI painted a new chapter in Indian advertising. Every fan of SRK got a chance to share the screen with the superstar with a little help from generative AI. Personalised music videos sang birthday wishes. As a first, ads were adapted in dialects, winning hearts in every corner of the nation. Data-driven decisions joined hands with creativity, optimizing campaigns in real time. In 2024, will AI generate the soundtracks for our stories as they already do for games and podcasts? I guess only time or perhaps algorithms will tell.

4. Beyond buy one, plant one: brands dive deep into real green messaging

When a company worth 3 trillion dollars, drops an ad featuring its high-profile CEO talking about their sustainability efforts, every marketer sits up, takes notice, and starts thinking about their sustainability strategy more seriously. And that’s what happened in 2023. To grab headlines for their green efforts in 2024, brands will ditch the hype and show the proof with authentic stories around reduced emission and waste management, genuine partnerships and measurable impact. Genuinely looking forward to reading headlines from brands highlighting their authentic green initiatives.

5. Building a system that respects privacy by design

In 2023, the Digital Personal Data Protection Act hit the headlines. It is the first cross-sectoral law on personal data protection in India. It was a remarkable event when after half a decade of deliberations, the parliament passed the Act. What was more remarkable is that it addresses Data Principles as ‘she/her’ which is unseen in any Indian law before this, hence, setting the tone in a new light. This will perhaps lead to new headlines around innovations in ad targeting, more creative ways of winning consumer trust who now understand their right to control their own data and transparent data practices.

2024 is almost here. Let's clink glasses, celebrate our wins, and gear up for another year of making magic happen. Cheers to all the awesome folks who make this industry tick! Here’s to embracing the opportunities and challenges that lie ahead and pushing the boundaries to make magic happen, yet again.