‘Measurement & rate card are two engines for industry growth’
By N Jayalakshmi - August 23, 2021
Well-regulated pricing with a rate card system is one of the factors can drive advertiser trust in a medium. But in the OOH space, rate card is still a challenge. Pramod Bhandula, Chairman, JCDecaux India & Vice Chairman, IOAA shares his views on why a rate card system is important for the OOH industry and how it can be made a reality.
Having a rate card is very important for OOH. Every media industry, whether it’s electronic, print or any other, has their own rate card. We strongly feel that it should be done in OOH too. At least if the major players follow the rules, say about 70-75% , the others will follow suit. Rate card is important to bring in the confidence of advertisers.
How a rate card system benefits the industry
Measurement and rate card are the two engines for industry growth. It is an incentive for everyone and it’s good for the industry. Things like SOPs, measurements and rate cards will give confidence to the advertiser and with these things implemented, the advertiser knows that they are not cheated, that the media price is right and everything is transparent.
IOAA initiatives towards implementing a rate card system
In principle everyone agrees with it. It’s only the implementation that remains. We at IOAA have sought a meeting with all the agencies and we will be taking this up along with other items on the agenda. It’s important to convey to them: ‘Yes we are getting organised and you also have to help us out’ as it’s important for the agencies too to help in this; after all, it will be a welcome move for all, including them.’
Message to industry
I would strongly appeal to and urge my fellows in the industry to accept a rate card system and start implementing it, at least in their own levels - regional, district or state level. It’s going to benefit them. If the industry can talk one language, that will be really good.