Vikram Sakhuja's leadership mantra: Passion & Alpha

Vikram Sakhuja, Group CEO, Madison Media & OOH, and a veteran in the advertising industry, has had a remarkable career spanning several decades. Recently honoured with the prestigious AAAI Lifetime Achievement Award, his journey is a testament to his leadership, passion, and vision in the world of media and advertising. In this candid conversation with Adgully, Sakhuja reflects on his career, leadership philosophy, and the challenges and trends shaping the future of the industry.

What does receiving the AAAI Lifetime Achievement Award mean to you?

It’s a very humble feeling here, because today it’s a validation from your peers, and I think there's nothing better than that. So when you see, I'm 32nd, there have been 31 before me. If you look at some of those names, we've all grown up looking up to them as legends. So, to be put in that list is very humbling, to say the least.

Looking back at your journey, could you share some key milestones that stand out to you?

My career spans 38 years, divided into 15 years on the client side and 23 years on the agency side. My time at Procter & Gamble and Coca-Cola, which covered 13 years, gave me a strong foundation that proved invaluable throughout my agency life.

After my time at Coke, I took a brief break and then spent a year at Star TV in their marketing department. However, for various reasons, things weren’t working out there, and I eventually left without a job lined up. The very next day, I was meeting with someone when Ranjan Kapoor, a legend in our industry, introduced me to a person I had met in Hong Kong during my early days. This person was setting up GroupM in India and invited me to join the agency side.

I had always been on the client side, working with brands like P&G and Coke, and I thought the agency world could be flaky. But looking back, joining the agency side turned out to be one of the best decisions of my career.

The fourth pivotal moment was when I led Mindshare within the larger GroupM. It was a time of great learning, particularly from my boss, who taught me invaluable lessons. Transforming Mindshare into something impactful was a significant achievement. However, the real challenge came when I transitioned into managing an entire group, which was very different from running a single agency. That came with its own set of challenges, but it was a journey of growth, learning, and overcoming obstacles.

Finally, in the last nine years with Madison, I’ve come full circle, dabbling as an entrepreneur. This phase has been both unique and fulfilling.

How would you describe your leadership philosophy?

I’m deeply passionate about everything I do, and I wear that passion on my sleeve. I am also highly focused, which helps me navigate challenges effectively. Personality-wise, I fall under the “driver-expressive” type. While this makes me assertive, sometimes even a bit tough, my team knows that my intentions are rooted in the right motives. I’d summarize my leadership style as passionate, focused, and slightly alpha when necessary.

You were closely associated with BARC (Broadcast Audience Research Council). What’s your take on the current state of TV audience measurement in India?

I actually believe that TV audience measurement in India is quite good. The key thing to understand is that in TV audience measurement, the entire process revolves around creating a sample that is projected to represent the broader population. This methodology is consistent across countries worldwide. India, in fact, has the largest panel size in the world, by a significant margin.

Even in the US, which is considered a massive TV market, the combination of people meter panels and older supplementary methods, such as diaries, are still in use – though these systems are quite archaic.

That said, the issue isn’t with the system itself, but rather with how the data is being used. The main reason some people are dissatisfied is because of the way data is segmented. Even with a panel size of 60,000 or potentially 120,000, the relative error issues won’t be completely solved. For example, if we look at news channels – which are particularly important for both the government and the audience – while these channels may have good reach, people generally tune in briefly, just to catch the headlines. This results in fleeting engagement compared to other content types.

The real challenge arises when we start to break down the data further, such as looking at news channels by region, gender, or city. This level of segmentation can create a misleading picture, especially when dealing with relatively small sample sizes in specific subgroups. A researcher familiar with the data would recognize these limitations, but the way the data is often used – without considering these relative errors – can be problematic.

The issue often lies in how the data is used irresponsibly. People tend to focus on the numbers without accounting for these errors, which can lead to misguided decisions, especially in programming. If the data is used responsibly, though, it’s a solid and effective system.

As we step into 2025, what trends or challenges do you foresee for the media and advertising industry?

The advertising landscape is currently experiencing slowdown, especially in the second half of 2024, despite positive macroeconomic indicators. We hope for a recovery in 2025, but this remains a significant headwind.

Connected TV is another trend to watch. In the US, streaming has already overtaken linear TV, and while India is still at a nascent stage, the hybrid model of linear and streaming content is growing fast. This shift could eventually lead to free-to-air channels coexisting with streaming platforms.

On the digital front, the lack of accountability and transparency is concerning. Unlike TV or print, where measurements are more reliable, digital platforms struggle with issues like bot impressions and questionable audience data. Big tech companies still control the narrative, which creates challenges for advertisers seeking more accurate third-party measurement systems.

With Budget 2025 around the corner, do you have a wishlist for the advertising industry?

I think reducing the 18% GST on digital advertising to something like the 5% on print could help open up the market. Additionally, anything that increases consumer expenditure would benefit advertising. The last couple of years have been sluggish in this regard, and it’s time we see some movement.

Finally, what is your vision for the future of advertising, and what do you hope will be your legacy?

The job of advertising is to create demand. My definition of marketing is simple: get more people to buy more of your products, more often, at a higher price.

Brands like Coca-Cola exemplify this. It’s essentially fizzy water, but its brand love and affinity have made it one of the most valued companies in the world. However, with the rise of digital, the focus on performance marketing is overshadowing brand-building. Performance marketing is more about acquisition and short-term gains, whereas brand-building creates long-term value.

My vision for advertising is to strike a balance between these two. Ultimately, advertising should be about creating value, not just discounts.

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