Social media has emerged as a robust platform for marketing, direct, subtle or indirect for almost all consumer brands. However, monetising it is quite challenging, experts said at the panel discussion “Future of Connected Devices and Cross Channel Measurement” on Day 2 of the Goa Fest.

The session was moderated by Rajdeep Sardesai, Consulting Editor of India Today Television and attended by panellists Geet Lulla, VP of Sales & Head Asia Pacific, Comscore; Pankaj Krishna, Founder and CEO, Chrome DM; and Salil Kumar, CEO, ITGD.

This session drove conversations around the future of connected devices, which allow seamless integration of various smart devices, enabling effortless communication and data sharing between them. Cross-channel measurement has become increasingly sophisticated, providing comprehensive insights into user behaviour across multiple platforms and touchpoints for more effective marketing strategies.

“However, measurement is now moving from a monolithic approach to a fragmented approach, which needs to be reported frequently because data by itself is meaningless without context,” said Lulla. He added that there are over three billion people on social media, yet monetising it is still a challenge yet.

During the debate, Krishna presented his findings on the incremental reach of digital media in India, which consists of three components: browsers (223 mn), mobile devices (619 mn) and connected TVs (22.1 mn).

Kumar, too, made an important addition to his conversation about data monetisation.

The panellists also accentuated the importance of clarity, wherein the measurement is concerned, as well as collaboration with regard to the real-time consumption ecosystem.

Sardesai raised the issue of controversial TV media measurement, which has pained channels for a long time. Lulla pointed out that we still have a traditional approach of sampling households for TV measurement.

Krishna hoped that in the future we might have some programmatic system that can do real-time bidding according to the flow of breaking news that comes in at that point in time.