WATSummit 2011 - YourStory reports on “The Inflection Point of Digital Media”

WATSummit 2011 was held on the 14^th of January and dealt with the future of Web, Advertising and Technology. Featuring expert guest speakers on four panels the event was plugged as an eye-opener and it did not disappoint. The panels up for discussion were:Growth Requirement for Digital Media and Entertainment:

Social Media Opportunity for Brands and Business:

Way Forward for Mobile Monetization and Banking:

Startup Vs VC Perspective Panel

YourStory was the official online media partner for WATSummit 2011 .Tarun Gupta from YourStory attended the event and we bring you this report direct from the frontlines…

Ajit balakrishnan from rediff , started the key note . He pointed that everybody in the country is targeting the 6 million affluent internet population , however there is a 78 million population which is still away from internet. He asked the Youth to think of products that will make the non users come to use the internet. He cited Nano's example as how Ratan Tata changed the dynamics of low segment cars. He spoke on how Education and Healthcare are two segments which can connect a lot of non users to the internet. He also mentioned that broadband is a bit expensive currently, and according to him 200 rs per month for unlimited usage would make it convenient for the average Indian to connect to the internet.

Next was the first panel discussion on 'Growth Requirement for Digital Media and entertainment’. This session was moderated by Rammohan Sundaram from Networkplay . Panelist debated among themselves upon what is “the inflection point of digital media” to which there were answers from 5 million to 100 million. Some panelists also pointed out the problem of there not being a standard organization for measurability, as each organization comes up with its own numbers and this is leading to lot of confusion among brands. Everybody agreed to the fact that digital media is the way forward, but some expressed concerns over the medium not picking up the way it should… as it is still not getting its due share in the total pie of advertising and marketing. Panelist emphasized that a lot of awareness needs to be created for this medium to grow. More than the numbers, its ROI which will see the medium grow. On being asked as what they see as the biggest contributor to the growth of Digital Media, panelist mentioned video, social network, gaming, and convenient utility as the major factors.

An enthralling speech by Abhigiyan Jha kept the audience intrigued .He as the producer of India's first internet TV series ' Jai Hind ' showed us the power of internet . His show averages 5 million views which is more than some of the most popular TV shows on prime channels.

Next Panel for the day was on "Social Media Opportunity for Brands and Business”. Some of the points that were discussed and agreed upon were - These days people are becoming extremely vocal about their likes and dislikes about the brands , hence its extremely important for brands to be present on the social media as these are very strong platforms for interacting directly with target customers and giving them a positive experience about the brand. It is also necessary to counter negative experience and reduce the bitterness. Addressing to social media agencies Karl said " stop selling mediums, and start selling ideas" .On being asked if the brands manipulate the reviews they get , one of the panelist pointed out that most of the time it is beyond their ability to manipulate with reviews as they are on some other platform and even if they can do it , they don’t do it. Panelist pointed out that social media is a lethal means for marketing, connecting with influencers , managing reputation , customer service , consumer happening and consumer brand.

The Third panel was on ' Way forward for mobile monetization and Mobile payments'. One panelist pointed out that India has missed the mobile revolution as far as mobile marketing is considered , but will catch the tablet race. With about 60 million users already, telcos considered it to be bigger than the internet in market share. A panelist said that 'mobile + location' will be a magnificent tool for marketers to market their products . Most panelists considered the mobile as the most effective digital medium because of its personal nature. Speaking on mobile commerce a panelist said , “Currently there is a lack of trust factor in mobile commerce ,but banks are come up with a second level of security,which will see M commerce soaring.” Panelists were of the opinion that mobiles will replace credit cards and all transactions may happen from mobiles. Mobile, mhealth , mcommerce and the M-Factor is the way forward according to panelists .

The last session for the day and a very interesting one was the “Startup Vs VC perspective" panel . Alok Kejriwal,was the moderator , and he kept the crowd in splits with his wit. On a lighter note one of the VCs expressed the opinion that VCs are considered GOD before investing and DOG after that. One of the VC’s also said that 'it's the entrepreneurs who make VC's rich and not the other way round". Sateesh a venture capitalist said it’s not Vc's Vs entrepreneurs but VCs with entrepreneurs . On being asked , what turns investors off , VCs pointed some interesting sticking points such as an entrepreneur pitching with a five year revenue plan ,entrepreneurs talking about exiting in the first meeting itself etc .

WATSummit was altogether a very enlightening event and kept the audience interested throughout the day, Yourstory congratulates Rajiv Dhingra and his team for putting up a good show and hopes to see more editions on their way.