Prashanth Challapalli On Why Industry Should Demand Monetary Respect For Ideas [Video]

Prashanth Challapalli, SVP and Digital Head at iContract at Contract Advertising talks about social data and the challenges faced by the digital industry

“Data has a lot of answers; you need to ask the right questions. It’s nice to say things like ROI, KPIs but do we know what questions to ask. We know the answers to what we want but we will get them if we ask the right questions,” shared Prashanth Challapalli, SVP and Digital Head at iContract at Contract Advertising, in a recent interaction with Lighthouse Insights.

Prashanth, who has been in the industry for more than 16 years now, was sharing his thoughts on social media analytics and whether his agency is investing on products to get insights from data. “We do have the basic stuff like any other agency would but we are not a heavy data focused agency as of now,” he said.

In the final part of the conversation, Prashanth also talks about how the rapid changes in digital keeps him inquisitive and busy. Continuing on the challenges of the medium, he says that clients in India should respect ideas and should pay for the idea not just the execution. “I think as an industry we should start demanding the respect that an idea deserves from monetary perspective simply because you spend a lot of time on coming up with an idea.”

Watch the below video to listen to his candid thoughts:

Prior to this in the second part of the video conversation, he shared his thoughts on mobile marketing and the challenges that mobile poses for marketers right now. “In the early 90′s, a lot of MNCs came to India as it had 500M middle class and it would be easy to crack that. The same sort of philosophy applies to mobile but it isn’t easy to crack it because the psychology of mobile is very different. Unless we crack that psychology and cracking content only, may not get you results.”

Watch to listen to his views on mobile marketing:

In the first part of the video conversation, he spoke extensively about his early days and what it was like growing up in a home where movie celebrities visited for lunch or dinner. He spoke about content and its role while discussing the Slice Swayaamvar campaign - iContract’s biggest digital campaign of this year.

Watch to listen to his professional journey: