Hackathon Launches to Transform Ad Spend Strategies
The AdSpend Optimizer Hackathon, part of the WAVES Create India Challenge Season 1, is set to revolutionize advertising strategies through predictive analytics. Organized by the Ministry of Information and Broadcasting in collaboration with the Advertising Agencies Association of India (AAAI), this event aims to tackle significant challenges in ad spend optimization. With 35 registrations, including one international participant, the hackathon is rapidly gaining traction in the advertising community.
WAVES Summit: A New Era for Media and Entertainment
The inaugural World Audio Visual & Entertainment Summit (WAVES) is designed as a pivotal platform for the Media and Entertainment (M&E) sector. Scheduled for May 1-4, 2025, at the Jio World Convention Centre in Mumbai, the summit aims to connect global M&E leaders with Indian talent and industry stakeholders. The event will focus on four key pillars: Broadcasting & Infotainment, AVGC-XR, Digital Media & Innovation, and Films. By showcasing advancements and innovations, WAVES seeks to position India as a central hub in the global M&E landscape.
Participation Guidelines for the Hackathon
The AAAI Ad Spend Optimizer Hackathon invites professionals to devise innovative advertising strategies. Participants can join individually or in teams of up to three members, bringing together diverse skills in data science, machine learning, statistics, software, marketing, and advertising. The competition is open to professionals from advertising agencies and marketing departments with a minimum of one year of experience. Each participant is tasked with developing a strategy that aligns with TrimMaster’s marketing objectives while adhering to a budget of ₹2,00,00,000 (Two Crore). Solutions must be presented in the form of a PowerPoint presentation.
Focus on TrimMaster’s Brand Strategy
Participants will work on the case study “TrimMaster – Enhancing Brand Strategy for Male Grooming,” aimed at improving top-funnel marketing efforts. TrimMaster, a direct-to-consumer brand known for its PrecisionTrim trimmer, faces challenges in elevating its brand awareness. Currently, the brand has an unaided awareness score of 52, indicating potential for growth in a competitive male grooming market. The objective is to increase this score to 75 through an optimized ad spend strategy across multiple channels, ensuring measurable impacts on brand recall and return on investment (ROI).
Evaluation and Prizes for Winning Strategies
Strategies developed during the hackathon will be evaluated based on specific criteria, including creativity, feasibility, and potential impact. Winning individuals and teams will receive exciting prizes, along with the opportunity to present their strategies at the WAVES summit. This hackathon not only offers a platform for innovative thinking but also represents a unique opportunity for professionals to influence the future of advertising and make a significant impact in the industry.
In conclusion, the AAAI Ad Spend Optimizer Hackathon invites professionals to contribute their expertise in optimizing ad spend and enhancing brand awareness for TrimMaster. With the chance to win prizes and present at a prestigious summit, participants are encouraged to seize this opportunity to shape the future of advertising.
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