GREY SETS ITS SIGHTS ON INDIA AND OTHER UPDATES
For some time India has been a frustrating region according to Heekin. “Everyone sees the size and there’s excitement around the opportunity.
By Jim Heekin | July 13, 2015
For some time India has been a frustrating region according to Heekin. “Everyone sees the size and there’s excitement around the opportunity. But by the same token, we’ve not seen the changes and reforms to make the business environment easier. But have clients pulled away? No.” says Heekin. Grey is at the point where we can see solid GDP over the next decade, making India Grey’s next ‘famously effective’ agency.
Hiring Sunil Lulla (as CEO) was a very big step and signal for Grey’s ambition. Grey has great digital capability and have made quite a few acquisitions. “We closed a big one in rural marketing with RCM and have two more that we hope to close by June: in CRM and digital. India is poised. Our key clients are here. It’s a question of having the right leadership and continuing to invest in creative talent,” continues Heekin.
It hasn’t always been smooth sailing for Grey India however as Heekin explains, Grey India has a new strategy: The vision has been set for nine years. It starts with strong leadership with a modern view of the business and a focus on creativity. The ambition is to be one of the most creative agencies in the market. We need to ask each other, every day, are we in the Top 3 or 4 and if not what are we doing about it? The third ingredient is to focus on multi-channel marketing. It’s not about making commercials but about communication on the web, shopper marketing, events and all points of contact.
Sunil has been like a wild man in terms of new business. We’ve had more success in the past 6 months than in the previous.”
Due to this strategy Grey India has seen immense growth. In 2014 the agency saw top-line growth somewhere between 7% and 10% where bottom-line growth was double digit, making it the best performing region inside of WPP. Grey India is projecting a further growth in 2015 driven primarily by the US and Asia. Through this Heekin projects Grey Indian to double in size in four years through just organic growth.
*Original article seen in Economic Times –India.