Asian advertising experts discuss market trends at DigiAsia in Taipei
亞洲行銷專家在台北 數位亞洲大會 討論市場趨勢
AFAA Chair Srinivasan Swamy, IAA VP Ramesh Narayan shared insights with Taiwan News
TAIPEI (Taiwan News) — Taiwan drew some of the biggest names in advertising from across the region and the world this week to attend the 2022 DigiAsia marketing conference in Taipei.
Taiwan News was able to speak with some of these influential voices in Asia’s advertising industry and hear their thoughts on the future of their industry in the new digital era of Web3. This included leaders of the advertising industry representing the International Advertising Association (IAA), the Asian Federation of Advertising Associations (AFAA), and the Korean Federation of Advertising Associations (KFAA).
On Nov. 16, ahead of the DigiAsia conference, Taiwan News spoke with Srinivasan K. Swamy, the Chairman of AFAA, and Ramesh Narayan, the AFAA Director of Strategy and the Vice President of IAA for the APAC region.
The two veteran advertisers shared their insights into the digital transformation taking place in our world today and discussed how the advertising industry is adapting to this new digital era.
The interview was also joined by Surya Kotha, CEO of Xlenz, a company based in California which specializes in augmented reality. Kotha demonstrated some of the potential applications for online advertising integrated with AR.
Srinivasan K. Swamy - Chairman of AFAA
The AFAA organization was founded in 1978 to provide a network of advertising associations across Asia, covering the entire spectrum of advertising, from print to radio to television, and now the digital realm. With the growing importance of the online space for business, AFAA recognized the need to organize a dedicated conference for exchanges between digital advertisers in Asia.
The result was DigiAsia, first held in 2014 and hosted by the Taiwan Association of Advertising Associations. DigiAsia is held every two years in Taiwan, while during the off years, AFAA focuses on the AdAsia conference, which is hosted by a different host country each time, with next year’s planned for Seoul.
According to Swamy, although digital advertising has been important for some time, the pandemic seriously accelerated the world’s digital transformation. The manner in which people have relied on and utilized digital spaces over the past two years sent a powerful signal to the entire advertising industry.
With the world on the cusp of the Web3 era, user engagement and online experiences have become defining features that are reshaping the advertising industry. “Advertisers are striving to make immersive user experiences a central part of marketing campaigns,” explained Swamy.
“Technological developments have shifted how business is done. Very soon, the digital ecosystem will become central to all economic activity,” said Swamy. He emphasized that the advertising industry has an opportunity to be at the forefront of this economic and social transformation.
Swamy said that he hopes organizations like AFAA can provide for a stable forum for communication and cooperation among advertising associations. He said that a new member constitution has been drafted, and that AFAA intends to seek out more partners and add new members in the years ahead.
“AFAA aims to impart knowledge and advice to advertisers across Asia for greater coordination, as far as industry practices. This sort of integration takes time, but eventually, a new journey will begin.”
Ramesh Narayan – AFAA Director of Strategy, Vice President of IAA
During the DigiAsia conference, ahead of AdAsia 2023 in Seoul, Narayan announced that AFAA had decided to establish a series of new awards for advertisers working in Asia; “The Change Makers for Good” awards. Narayan said that the idea for the awards was reached after considering two things.
First, for many people, the ad industry doesn’t have a particularly “shining” reputation, according to Narayan. Second, the current global landscape and difficulties in the wake of the pandemic have presented the industry with an opportunity to address its shortcomings and cultivate a better reputation moving forward.
Therefore, the “Change Makers for Good” awards are a symbol of a commitment by AFAA to encourage advertisers to see themselves as a force for good and position the entire industry to do the same.
“Every successful brand in the world can thank an advertiser or ad agency for their success. Now, amidst this digital transformation, we need to recognize that no industry has the power to influence people in the way the ad industry is able to do so,” said Narayan.
“Moving forward, we want to focus on changing mindsets, and becoming change makers for good.”
The “Change Makers for Good” awards will be divided into four separate categories: private individuals, governments, the entrants’ general activity on the regional stage as well as specific products or services. Those who are found to have made significant contributions to helping others, protecting the environment, or transforming society or the digital space in meaningful ways can be nominated for the award.
Nominees will be finalized in January, and judging will begin in March. Winners will be asked ahead of time to prepare a presentation for the public announcement of winners at AdAsia 2023.
Ultimately, Narayan said that his goal is to change the perceptions of young people towards the advertising industry so that they recognize it as a potential force for good. Likewise, he hopes to see more young people become excited to join the industry and affect positive changes moving forward.
Both Narayan and Swamy agreed that Asia is far ahead of other regions in adapting to the world's rapid digital transformation. In places like Taiwan and India, for example, young people are not only highly educated but also appear eager to embrace new technologies, such as digital payment systems and teleconferencing.
Surya Kotha, CEO of Xlenz, gave Taiwan News a glimpse of how hardware and augmented reality are likely to be integrated into the next era of digital advertising.
He used a tablet to scan a newspaper, including print ads for a fitness program, a motorcycle, and a real estate development. The tablet brought the ads to life, providing 3D models and interactive displays that the user is capable of interacting with. When such technology is integrated with a headset or smart glass system, advertisements themselves can become a source of entertainment.
“As tech comes and goes, customers are always constrained by the hardware they use. However, in the Web3 space, the potential for personalized advertising will vastly improve the user experience,” said Surya.
Speaking with these esteemed guests in Taipei, it is clear that the future is full of possibilities, in the digital space as well as in the real world, where digital technologies and advertisements will become integrated through AR systems like the one Xlenz is developing.
Hopefully, as businesses and advertisers press forward in this exciting new era, they will do so in a conscientious manner that respects the privacy of individuals while also, as Narayan hopes, striving to become a force for good in the world as well.
