The third Goafest - the annual conclave of the advertising industry - started today with delegates working on ideas to help the industry grow in value and improve the client-agency relationship.Group M's Vikram Saluja introduced the Goafest. "We have started an hour late, but that's still on time considering the relaxed atmosphere here. So, welcome to the third Goafest. Since the last two years we have been getting together to talk about problems, but this year we will, through our panelists, discuss ideas on creating more value in the advertising industry." The first session began with D Shivkumar of Nokia who spoke on the value advertisers expect from their creative/ media agencies and media owners. The second session was a client-versus-clientele debate presented by Harit Nagpal (Vodafone) and V Shantakumar (Saatchi & Saatchi).One of the key ideas discussed by the panelists was the commission model. While Shantakumar said that the model lacks accountability for the advertising agencies, Balakrishnan of Lowe contested that clients do actually see a value in the kind of work agencies produce for them and that is accountability.Shivkumar spoke about the growing Indian economy, which would see a change in consumer perception of brands from LopZee - Low Price zero experience - to a consumer who would demand greater value and better experience from every brand. He also emphasised that India would see a total of 500 million mobile consumers by 2010, and this would see any serrvice otherwise delivered from a physical building being done through the mobile. This is an avenue and a growing potential advertising opportunity that advertisers cannot afford to miss.
