Mindshare beats the media industry to the #1 spot, winning Gold at Media Agency of the Year 2021; attributes success through turbulent times to strategy, foresight
Mindshare Sri Lanka clinched the coveted Gold award at the recently concluded Media Agency of the Year 2021 Awards for its overall performance during the period of 2020/2021, beating every other media agency in Sri Lanka and the South Asian region. The country’s most awarded media agency credited its strategic approach as the driving force behind this and other achievements. Elaborating, Mindshare noted that it was their aggressive performance supported by extensive planning, foresight, cutting-edge tools and investing in people that propelled the organization forward during the challenging period of 2020/2021.
Mindshare’s exceptional success could be attributed to the agency’s strategic approach when planning media for brands that are in one of two: ‘Declining’ or ‘Growing’. For brands in the declining categories, Mindshare set out to arrest degrowthby supporting clients through innovation to navigate theturbulent times while for brands that are in growing categories Mindshare aimed at beating organic growth expectations by identifying and doubling down on rapidly emerging and evolving category drivers and media trends.
During the year in review, Mindshare successfully minimizeddegrowth/achieved growth in the ‘declining’ category which is responsible for 51% of the agency’s revenue. The remaining 49% of revenue came from 5 product categories and in each of these categories Mindshare accounted for over half of the advertising singlehandedly. Mindshare successfully beatorganic growth rates within categories where they had little headroom to grow.
In addition, Mindshare also managed to outgrow the media industry by 17 percentage points posting a 37% growth in billings from Jan – Sep 2021 vs same period the previous year during which the industry only saw a 25% growth. Currently GroupM controls 30% of the ATL advertising market in Sri Lanka, split between Mindshare and its sister-company, Wavemaker.
This growth was achieved through a comprehensive ‘overhaul’ involving a multitude of areas including re-evaluating the multimedia reach, optimizing the media mix for greater effectiveness, multiscreen placements realigning both the communication strategies of the agency & business goals in line with the shifting media landscape especially during the pandemic period.
Compliance with stringent ad standards assured the quality & effectiveness of each piece of communication while stakeholder relationships with Google & Facebook reached new heights resulting in better engagement and in turn greater yields.
The Chief Executive Officer of GroupM, Sabry Haniz, noted: “The numbers & results were not just limited to growth & sustainability but to other important facets as well. Talent retention was exemplary with periodic training, development & interventions where needed.”
“Mindshare’s performance in Sri Lanka is in line with its global strategy and new business philosophy. Mindshare defines ‘good growth’ as the belief that growth is no longer geographical and that new nations and markets are emerging. Global platforms now have more users than some nations, and these “new countries” are where people are living. But most crucially, that growth is a decision, and that growth has consequences — social and planetary” he concluded.
Just as much as the people who work internally require growth, the industry requires sustainability. It is in that light these industry wins are much more meaningful & a credible recognition of the prudence, insight & persistence the agency has showcased during these trying times said General Manager of Mindshare Sri Lanka, Chaminda Samarakoon.
He said that Mindshare was humbled by the recognition and intends to retain the same momentum in 2022 which he perceives to be a year of recovery, normalcy & growth.
Mindshare is part of GroupM, a New York-based media & advertising empire, which is also the holding company of Mediacom, Wavemaker, Essence and M/six.
