AgTalk | Strategists with valuable insight: Madison PR's Paresh Chaudhry

Madison Public Relations (MPR) writes a new chapter in its growth story. The agency signed up key wins, which is a record 20 new clients in January 2014. As a first in the PR industry, this triumph is a matter of great pride. With a growth of 32% in 2012-13 over the corresponding year, the agency is expected to end this year (2013-14) with close to 30% growth. MPR has further strengthened its dominance in the youth, entertainment, luxury and lifestyle segments. The agency signed up distinguished brands across diverse sectors including some majors like the Lodha Group, Zee Media Corp, Indian Merchant Chambers, Enamor, Celio, VVF, Max Fashions, amongst others.

As MPR's client roster extends, the agency is also investing in quality talent with relevant strategic communication experience.  In fact, the agency has also recorded less than 5% attrition rate as opposed to the industry standard of 20- 25%. A new strategy brand planning team has been created to provide a cutting edge to every campaign right from conceptualization.

Paresh Chaudhry, CEO, Madison Public Relations with over 24 years of Brand Communication & Reputation Management experience across industries & key global markets has been a business communication professional with Reliance Industries, Hindustan Unilever, Smith Kline Beecham, Ranbaxy & Wockhardt. His experience and expertise extends to all areas of Corporate Communications. An MBA (Marketing) with a Public affairs diploma from Hong Kong University, he is the founder President of the "Indian Forum Of Corporate Communicators" (IFCC).

In conversation with Adgully, Paresh Chaudhry, CEO, Madison Public Relations talks about the latest developments at MPR and their roadmap chalked out for 2014.

Adgully (AG): Firstly, 20 new clients on the accounts roll for Madison PR; what according to you helped MPR achieve this astounding feat?

Paresh Chaudhry (PC): We are clear about the business verticals we want to partner with. Understanding client needs, catering to them with competent team and synergising innovative strategies has translated into long term and extended PR partnerships. Being selective about adding clients just made the focus sharper. Many conversions occurred in January 2014 and are being converted as we speak. We have seen growth in youth oriented brands, lifestyle, luxury and entertainment sectors. Due to our expertise and strategic teams in place we have gained confidence in the market.

AG: Shed some light on the key clients that you acquired this year. Who, according to you has performed well and given the best results? Also please share about the old accounts in Madison PR’s kitty.

PC: We won many key accounts like GSK, Bunge (Dalda), Lodha Group, Celio, Braun, Indian Merchant Chambers, blueFrog, Splash, Max Fashions, KSCA, ZEE Media Corp, Enamour, et al. Every brand needs a different approach and strategic thinking to bring it to life on ground. It's been exciting to see the desired outcomes - significant return on investment and share of voice to most key brand / corporate partnerships. We partner to build brands and build their credibility. The re-launch of Dalda was a challenging approach for PR. The strategy implemented to understand media’s feedback on a brand that was being launched for the 3rd time was a risk and we at Madison believed in our approach. Today Dalda edible oils have been successfully distributed across 10 key sales oriented markets.

AG: Your press statement indicated that all these wins (in quick successions) are the PR industry's first of sorts. Kindly elaborate on that statement.

PC: I have been told by many leaders in the industry and media that perhaps winning over 20 new clients in less than a month is an "industry first". In the last week of January 2014 we have signed up 4 new accounts taking the tally to 24 new clients. That I think is an awesome conversion rate. I am more glad that Madison PR is 

AG: 2013 seemed to be one of the most important and rewarding year for Madison. Share with us, the company's journey through the year.

PC: The year saw us bagging awards for our communication partnerships with global brands. We were awarded the PR agency of the year, rated as the fastest growing agency, won the Sabre award for our social campaign - Wake Up, Clean Up Bengaluru, the Times of India Big Bang Awards (including two Golds) for our brand activations for Ariel and Britannia Tiger Biscuits. The healthy culture, work-life balance and a happy team has ensured that our attrition rate is way below the industry mark and moreover we have lost no key clients in the year, which I think is remarkable.

AG: What is Madison PR's edge over competition? What sets MPR apart from other PR agencies?

PC: Our capability building approach to convert PR managers to Brand managers is key to all that we do. Consumer and channel partner visits to gain valuable insights are dovetailed into the communication planning process. Issue management becomes real time and helps in pro activity. Clients acknowledge that effort. This helps the individual to grow at a personal level too.

AG: Through the years, which have been your best works? Also, was there any client you regret working with or consider to have underperformed in the business?

PC: It would be a dishonour to others to choose any at all! But our partnerships with the P&G brands, Britannia, GSK, GoAir, the Godrej brands , Levi's, PUMA, Cafe Coffee Day, blueFrog, among others has been outstanding. There have been no regrets with any client so far. It is my endeavour to ensure that clients are briefed, trained and consistently updated on the dynamics with media and realistic outcomes whenever necessary. As a relatively smaller agency we have greater incentive for transformative change. Superficial benefits may attract talent in the short term, but the prestige of working with an organization which associates with names of repute always resonates positively with all stakeholders.

AG: How according to you, has the PR industry evolved over the years? Share with us some of the key trends you foresee in the industry in the next 2-3 years.

PC: As clients are witnessing the "power of PR" and how PR can enhance brand value and ROI's the rush to acquire clients are mindless. I have ensured that we do not sign up everyone who approaches us. We are selective on clients and people who join us. I personally oversee Recruitment and ensure that our ratio never exceeds over 1:2-3 on account of manager : clients. Many agencies are tripping on overload. Focus must be client delight at all times.
I see some more consolidation in the space. I see that agencies will need to step up training in all facets of communications and moving away from just "pushing PR". I see big emphasis on sharpening capabilities on digital and social media front. I also foresee a huge surge in Rural PR. More activity driven PR campaigns are on the anvil. Everyone wants to see proof of performance.

AG: What is the kind of shift you have seen in terms of client’s demand which has helped the agency to think out-of-the-box leading to its growth?

PC: Clients need a proactive mindset. They need a communications partner that is practically their eyes and ears and doesn't take just a latent reactive approach. They need us to be real communication partners and an extension of their corporate and brand marketing teams. Real time globalization is key to gaining credible share of voice.

AG: Lastly, in terms of business what are your expectations in year 2014-2015 for Madison PR?

PC: We as an agency would like to be known as those who know the value of the idea - the whole is greater than the sum of its parts. As strategists with valuable insight into markets trends and with key focus on driving return-on-investment for all our PR partners, we'd like to be catalysts of integrated collaborators in brands disciplines, committed to flawless execution. We'd like to be known as a team of dynamic and experienced individuals in the field who will sit at the center of the organization and assume the role of true client relationship managers. In the immediate term we will continue to grow above the market as in the last two years where we have clocked an average of 30% growth YoY.

Named 'the fastest growing agency of the year (2013)' by Pitch Magazine, Madison Public Relations is the strategic communications partner of some of India's most respected and beloved brands since 1998. The Agency won “PR agency of the Year” (exchange4media), Gold at the Sabre India Awards 2013 and four Times of India Big Bang Awards 2013. In light of the accolades that Madison Public Relations has been accorded with, in the past year, its latest feat raises the momentum of its growth. In the year to come, Madison PR aims to strengthen its practices in the areas of Entertainment, Luxury, Tourism, IT and FMCG.