How Madison Is Shaping Tomorrow’s Marketing Today

Madison was established in 1988 and has since expanded its presence into the creative, media, PR and sports sectors with Sam Balsara serving as Chairman and Lara Balsara Vajifdar as Executive Director. For almost a decade, Vikram Sakhuja has been leading Madison Media & OOH as Group CEO. By 2023-2024, the company had grown to support nearly 500 clients and employ a staff of 1,300, with 650 dedicated to digital services. In an interview with BW Marketing World, Madison’s leadership emphasised the company’s position as one of India’s top independent agency networks.

Digital Comes A Calling

Regarding digital efforts, Sam states that India’s AdEx is currently at 40 per cent digital, and Madison mirrors this figure. He acknowledges that the top 50 advertisers in India allocate 60 per cent of their ad budget to TV, indicating that Madison is over-indexed in TV advertising.

“Madison Creative has evolved into Madison Loop, which has proven to be successful,” says Sam

Lara says that 40 per cent of Madison’s revenue is generated from digital sources, and 47 of the agency’s employees work in digital services. “Several automation initiatives are underway and Madison has recruited from prestigious IIMs this year. Instead of cost-cutting, the company is investing in its future.”

Sam emphasises the importance of staying informed about new technologies, including AR and VR, stating that Madison keeps a close watch on the market and uses AI-enabled digital tools. However, he stresses the need to maintain a balance and avoid discarding valuable resources.

Vikram Sakhuja, recognised for his digital focus, says that Madison Media adapts its approach based on consumer behaviour. He says, “I follow the consumer and find the appropriate use for each medium. In Madison, we don’t chase every shiny object. For example, we experimented with Metaverse but have yet to unlock its true value. AI, on the other hand, can help us target and optimise more effectively, as well as drive better attribution, which is ultimately the holy grail of media planning.”

New Logo: Futuristic

Madison recently updated its logo after more than 30 years. The new identity captures the group’s evolution and growth over time, as well as its future vision; it also maintains some of the core values of client focus and integrity.

Lara, who became Executive Director in 2004, highlights the company’s continuous evolution. She asserts that the new brand identity reflects the significant changes within the organisation.

Lara describes the new branding as “minimal, yet powerful; modern, yet timeless; sharp, yet approachable.”

“Some of the words we want the new identity to reflect are sharp, bold, confident, modern, minimalist and futuristic. And this is how we want all Madisonites to think,” she adds.

2023: The Best Year

Sam mentions 2023 as their best year since Covid. “We have been looking at all media holistically and selecting the media mix that is best suited to the brand’s needs. We have also prioritised skill development for our employees. Both will continue. In line with the environment, our digital billings in terms of percentage to total billings and absolute terms have been growing.”

Indian Media Metrics Evolution

Sakhuja recognises his fortunate position as head of Industry Tech Communications for IRS Print, BARC TV, and ABC Digital, given his research and media background. “There are effective governance mechanisms and leadership in place to encourage participation from industry stakeholders such as advertisers, media owners, and agencies. There is a lack of consistency in studies such as IRS, cross-media measurement, and third-party digital measurement. These ills can be eliminated if the advertiser takes control of these studies and funds them. Currently, allowing media owners to fund the majority of these studies makes them vulnerable to their agendas, which can harm their investment decisions.”

Traditional vs Innovation

Sam emphasises the importance of data. “With so many consumer touchpoints, it is critical to collect and utilise all available data. “Now it’s 90 per cent data and 10 per cent belief.”

Madison recognises and integrates new trends, but it proceeds with caution. “We use them as an experiment to ensure that they meet our and our clients’ high standards. We are cautious about implementing new gizmos and ideas because it is easy to get carried away and waste our clients’ money,” says Sam.

Knitting With Cohesion

Madison Group has several units that specialise in different areas, allowing them to provide clients with a variety of solutions. “At the same time, we have large integrated teams that work with large clients and deliver a unified solution across multiple platforms. Sam says, “This works best for our clients.” When Sakhuja arrived nine years ago, he discussed a strategy called 007 - Outcomes, One Madison, and Seven +. “Outcomes was an orientation of how we impact a client’s business; One Madison was to strengthen the Agency Central Practice Pillars of Buying, Planning-Analytics, and Digital; and Seven + was a KPI setting tool that I learned early in my agency career that captures KPIs under Hunter, Farmer, Entrepreneur, Scholar, Artist, Hero, and Parent. I have stayed true to this core thinking.

The WPP saga

Madison’s 15-year relationship with WPP came to an end when they divested from MediaCom in 2022. Lara recalls, “The Mediacom partnership with WPP was extremely beneficial and

rewarding for both parties. We exited to allow for the merger of Essence and MediaCom in India, which we believe was in the interest of P&G, our first media client.”

Womanprenuer

After two decades of managing Madison as her father’s business, Lara has gained valuable experience as a woman in the Indian advertising industry and as an entrepreneur.

She says, “Madison is a professional services organisation and a meritocracy, not a family-run business.” Being in advertising is just as difficult for women as it is for men. I don’t notice any difference based on gender. A position is filled based on the individual’s ability, not because he or she is male or female or because we need to meet some diversity criteria. Unlike other industries such as manufacturing and automobiles, there are many women in senior positions in the advertising industry, and I would like to believe that this situation is solely based on performance,” she says.

In Lara’s words, which apply regardless of gender, “Entrepreneurship has its own set of rewards and challenges.”