Insights from Goafest 2024 by Ujaya Shakya

Attending Goafest 2024 in Mumbai was an exhilarating experience filled with learning, networking, and vibrant entertainment. Over the past three days, I had the privilege of presenting my masterclass, “Unlocking Marketing Potential: Open Your Eyes to Nepal,” which received positive feedback for its insights into brand communication from Nepal. Congratulations to AAAI, Ad Club of India, and all my Indian ad friends for organizing such a stellar event. It was wonderful to reconnect and reflect on our learnings during the evenings.

Here are my key takeaways from Goafest 2024:

1. Reinvigorating Strategic Planning: Emphasize the importance of understanding human truths and translating these insights into creative ideas coupled with robust media planning.

2. Embracing Technological Disruptions: Technology has always disrupted our lives in various stages—PCs, Internet, Email, Mobile Phones, Social Media, and now AI. These disruptions have often improved our lives, and we must prepare for future changes that will arrive faster than we anticipate.

3. Creating Youth-Friendly Work Environments: For ad agencies to stay relevant, they need to create environments where younger people feel comfortable and can thrive. Existing structures should be evaluated to meet the needs of a younger workforce.

4. Decentralizing Creativity: Encourage the democratization of creativity to foster a more dynamic and innovative work culture. Decentralization can lead to greater innovation and a broader range of ideas.

5. Maintaining Agility and Youthful Spirit: Modern ad agencies should be agile and maintain a youthful spirit to keep up with the rapidly changing needs of clients. Flexibility and adaptability are key to staying ahead.

6. Focusing on Value Creation: Agencies should move beyond merely creating social media posts and focus on value creation similar to consulting firms. This involves setting budgets based on the value brought to clients' businesses.

7. Training Young Professionals: Conduct small research before client meetings. Younger team members should be trained in hypothesis testing and developing a point of view to demonstrate the agency's value effectively.

8. Leveraging Tech Solutions: Utilize tech solutions in addition to traditional media ideas to help clients understand optimal spending strategies and their impact on business growth.

9. Embracing Inclusivity: Recognize that Gen Z often views gender as a spectrum. Take advantage of their open-mindedness to break stereotypes and create more inclusive content.

10. Forward-Thinking Approach: These key points encapsulate the need for innovation, adaptability, and a forward-thinking approach in the changing agency landscape.

My experience at Goafest 2024 reinforced the importance of staying ahead of the curve in an industry that is constantly evolving. As we look to the future, embracing these learnings will be crucial for fostering a dynamic and successful marketing environment.