New Delhi :In an effort to develop the digital advertisement business which comprises banner, classifieds and search marketing, Advertising Agencies Association of India (AAAI) has entered into a partnership with the Internet and Mobile Association of India (IAMAI) the representative body of internet and mobile value added services companies including all leading online publishers in India.
The partnership has been established with a the view to: a) Grow the digital advertisement business; b) Put in place good business practices and processes, and c) streamline the payment process for publishers as well as agencies, etc. The partnership was formalised recently at joint meeting of the two industry bodies. The terms of reference for the partnership would cover inter alia:
1. Ensuring accelerated and systematic growth of digital advertising
2. Establishing a system of timely payment process
3. Setting up standards and norms for digital advertisements
4. Ensuring fair pricing and rates
Commenting on the partnership Colvyn Harris, President AAAI said: “lack of strong partnership between the publishers and agencies was a critical impediment to the growth of the digital advertising business. The coming together of AAAI and IAMAI would fill that gap and offer an opportunity to replicate the success of print and electronic media where such partnerships exist for a long time”.
AAAI and IAMAI have further stated that the terms of this agreement would be applicable only to the members of the two Associations.