For Sandeep Goyal, Managing Director, Rediffusion Group & Chairman, Mogae Media, there are no perfect timings for acquisitions and mergers. In this conversation, he speaks on the excitement of coming back to advertising, and his plans for his once employer - Rediffusion
Media and ad veteran Sandeep Goyal buying a controlling stake in his former employer Rediffusion and its sister concern Everest, for an undisclosed amount, came as a surprise to the advertising industry and other stakeholders, especially given the crisis times. For Goyal however, the priorities going forward are simple. “Happy clients. Winning campaigns. Innovative thinking.”
The ad man believes that crisis and ups and downs are just part of the business, and there are no perfect timings for acquisition and mergers. In this conversation with BW Businessworld, the Managing Director of Rediffusion Group and Chairman of Mogae Media, shares the excitement coming back to advertising, irrespective the hard times and his plans ahead. Edited Excerpts:
Was it a long-thought ruminative plan or your love for advertising that has brought you back to advertising, more so to Rediffusion?
I couldn’t agree more that it felt like homecoming. I have missed advertising, creating campaigns, and client interactions. And a decade is a long time keeping away from advertising. My coming back to the industry could not happen for five years as I was under a non-compete clause after the sale of my earlier ad agency, and then nothing substantial was really on the market. So, when Mr. Arun Nanda called me a few months back and invited me back, it was a God-send.
What are your three priorities for the agency after the acquisition, especially since this decision comes during a worldwide crisis?
Acquiring Rediffusion and Everest has nothing to do with the pandemic. I think crisis and ups and downs are part of the business. Speaking on the priorities, going forward however, these are extremely simple. I want to prioritise happy clients, do winning campaigns, and of course innovative thinking for Rediffusion and Everest.
What does this spell for creative entrepreneurs in India?
The creative guys tend to set up creative shops, mostly small boutiques with a few clients who love them. That works well for both parties: focused attention by a good creative mind, quick turnaround and mutual respect. The creative boutiques have thrived for decades and will continue. But these small shops are limited by the talent of the owner and offer limited services. That remains an issue always.
What are some of the changes we should expect for Rediffusion from here?
I think it is too early to comment on this. It is only my second day at work and that too virtually. I still have to get to know my own team and clients. I will shift gears when a little more settled. Also, both agencies will retain their brand identity, and nothing really changes on that front.
Any thoughts on how hereon the distinction between Rediffusion and Everest will happen to ensure growth?
Both agencies have big game mentality and both of them are winners with great track-records. We will see how both can grow together, yet separately.
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