In a spirited exchange of ideas at the IAMAI’s India Digital Summit 2024, industry experts celebrated the emergence of the Indian Socio-Economic Classification (ISEC) as a pivotal force in comprehending India’s digital media consumption trends.

According to a press release from IAMAI, the summit, graced by the presence of notable figures, prominently featured Yashwant Deshmukh, shedding light on the revolutionary ISEC initiative and its transformative impact on the digital world.

At the heart of ISEC’s groundbreaking initiative is the Consumer Outlook and Trends in Nation (COTN) survey, an ambitious project spearheaded by Yashwant Deshmukh.

The survey, set to be conducted year-round in 11 Indian languages and commissioned by a leading Media House, aims to track consumer sentiments, particularly in digital consumption. Scheduled for release in March 2024, the first COTN survey report will introduce the COTN Economic Battery and the COTN Product Battery, providing CMOs with invaluable insights.

Highlighting the importance of ISEC’s alignment with the initiative, the survey is set to unveil the Media Consumption Tracker, a tool essential for understanding India’s evolving media landscape.

Yashwant Deshmukh led an insightful conversation, emphasizing the imperative for Chief Marketing Officers (CMOs) to embrace data analytics and new segmentation techniques in navigating the dynamic media landscape of India.

The early adoption of digital media in regions like Bihar and Uttar Pradesh has prompted a transformation in traditional media consumption patterns. The complexity and dynamism of the Indian consumer landscape necessitate advanced survey methods, as evident in the COTN survey, to decipher and understand India’s growth in the digital space.

The summit underscored the need for more precise targeting methods in advertising, acknowledging the influence of digital channels on consumer conduct and preferences.

Strategic focus, according to the discussions, should shift towards the substantial audience segment that embraces Hindi and regional language content, challenging the conventional perception that English alone defines a discerning audience.

ISEC’s potential took center stage at the summit with the debut of this pioneering study, marking a significant milestone in understanding India’s diverse consumer demographics and media consumption trends. By incorporating additional parameters such as female education level, ISEC enabled COTN aims to offer a holistic understanding of household dynamics and consumption patterns, transcending traditional classifications.

In conclusion, the IAMAI India Digital Summit 2024 provided a platform for recognizing ISEC’s instrumental role in shaping the future of digital media consumption in India, paving the way for a more nuanced and insightful understanding of the evolving socio-economic landscape.