Digital Marketing - Aqugen Technologies
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Digital Marketing

A deeper understanding of digital consumer spending by 2020

India has the largest percentage of internet users who have nearly doubled in recent times. In spite of increasing internet users population, there’s a relatively lower percentage of people who indulge themselves in online digital transactions, be it buying products from various online shopping platforms, booking travel packages online or paying for online streaming services like Netflix or Spotify. Some people are still reluctant to make purchases online and feel unsafe or unsure about doing that. 

Recently, in a research conducted by BCG and Nielsen under the title, “ Digital Consumer Spending in India: A $100 Billion opportunity”, it showed that by 2020 the total online spending by consumers will take a hike of $100B from $40B of today. Here are the reasons listed on how this could be a reality. Let’s understand consumer’s digital spending behavior more intimately. 

  1. Digital up-gradation by 2020 

Internet users aren’t making online purchases yet. We see a trend where buyers are surfing and browsing online but become reluctant when it comes to making an online purchase. Even if they decide to do it, they’ll either be occasional buyers or spend a small amount for their online transaction. However, it’s estimated that by 2020 with the digital advancement there’s a possibility of people spending more on online categories like clothes, gadgets, food, and groceries which will only lead us towards $100B goal.

With infrastructure advancing and people becoming more technology friendly, there are positive signs for increased digital consumer spending.

  1. Change in the demographic factors of online shoppers

Age, gender, and place of residence are some factors that greatly influence how people choose to make their online purchases. While now, there’s a wider percentage of male population making online purchases than women and youngsters being more friendly with digital spending than young teenagers or old population, it’s estimated that by 2020 these figures will show a change. The female shoppers and people from 35 yrs and above shoppers will increase and so will the shopping trends of people living in non-metro cities.

With these growing trends, marketers will also need to update their various policies related to price, delivery, and returns to suit the market trends. 

  1. With buyers shopping habits progressing, brands should do the same

While the shopper’s habits are evolving, it’s important that the brands are evolving as well. By 2020, it’s expected that more consumers will enter this shopping bandwagon making it wider and broader concept. When brands will  evolve with the changing trend, they’ll better use the opportunity to their benefit. And if this happens the digital spending in India will surely surpass the goal of $100B by 2020. 

Let’s understand how brands can play a major role in evolving consumer habits in making digital payment in India:

  1. For the shoppers who buy often, brands should try to set up a more personal form of communication with them to keep them attracted and offer unique & exclusive offers and 
  2. Focus on occasional shoppers by providing services like easy and fast delivery, flexible return policies and efficient after-sales policies. 
  3. To attract non-buyers, use strategies that could build their trust in digital spending and give them access to easy-to-use online platforms to make purchases. 

So saying that by 2020 consumers will be more involved in digital spending than they are now wouldn’t be entirely wrong. Brands should adopt these strategies and soon there shall be an improvement in the consumer’s digital spending habits. 

Read more about: IMPACT OF DIGITIZATION ON INDIA’S AUTO AND RETAIL INDUSTRIES

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Impact of digitization on India’s auto and retail industries

For ages, the Indian auto brands and retail industries were heavily depended on the traditional tools of media. With the digitalization coming into the scene, things started to change drastically and since then the future of these industries has undergone a major change. Viewer’s habits have evolved with being more active online for surfing, searching or shopping. As their habits shifted so did their expectations from various brands. So, the need for these brands has been to increase their online presence to serve the growing expectations of the audiences. 

In India, there’s a major percentage of people who prefer making offline purchases rather than online. However, they might buy from a nearby store but will prefer conducting online research about the brand and its product before going to the dealer’s shop and making a purchase. Let’s understand better how digitalization has led to fetching better results and growth from the auto and retail industries.

How car buyers are adapting to digitalization for making their purchases?

Digital has helped car buyers in making their decision easier. Among the online sources, the most common and widely used platform for research is online videos. The majority of the car buyers rely on the online video to do their research on which car to buy. Hence, it plays an important role in the buyer’s decision while making a car purchase. Those who are left impressed by the online video would take a further step and visit its website before purchasing the showroom. This simply suggests that digitalization has made customers more aware of various brands and their specialties.

Advanced technology has benefited both buyers and brands. While brands can measure the reach of their online ads towards the audience, buyers are making a more aware and informed decision relating to purchases. Even the retail industries have undergone a certain change in their approach towards customers. They need to reach to their every customer who are excessively browsing and shopping across various channels. Hence, digital has no doubt led to driving increased store sales for auto and retail companies. 

How digital is transforming the future of auto and retail industries in India?

With the growing roots of digitalization in India, it is expected to fetch greater results in India even for the businesses with the roots offline. While brand managers understanding and accepting the role and importance of digitalization in today’s shopping trend, they tend to follow certain rules or should least remember to ensure it happens before implementing any digital strategy to drive sales:

  1. Knowing and understanding your audiences

It’s one of the most important things to take into account by the auto brand managers. Know what your customers demand and what are their expectations from your brand and provide them with the necessary information. Instead of looking at digital just a medium for lead generation, it’s important to see how it can impact your business’s growth in the long run.

  1. Focus on the essentials

When making the transition from old print media to an advanced digital platform, it’s important to concentrate on the basics and plan it just like any other campaign rather than something special. Stick to how your campaign could reach a larger audience, study customer’s online purchase behavior, and other basic factors.

  1. Constantly measuring and testing digital campaigns

For brands to grow and get better results just the implementation of a digital strategy isn’t enough but rather measuring its reach, constantly testing, monitoring and optimizing campaigns is also important. Understanding how digitalization could help brands to move forward is the first step towards growth. 

 

Digital has proven to be a successful platform for the auto and retail industries in India since its emergence. With people becoming tech-savvy and embracing digitalization with open arms, these brands have come to realize its importance and therefore they too accepted it and started to include as a great marketing strategy which only is leading these industries towards growth and success. 

Read more about: HOW TO MAKE YOUR ONLINE VIDEOS STAND OUT THIS FESTIVE SEASON!

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Impact of mobile speed on the growth of various businesses

According to research, web traffic majorly comes from mobile phones. Therefore, the mobile web has become a platform that is more commonly used than any other by the people for searching, browsing or shopping. For any business, it’s not enough to hold just a mobile web page but its proper maintenance and repair is also a must. The mobile web is that area in which any business with an active mobile presence needs to improve for enhancing its company’s growth. Business growth demands speedy mobile web experience which has become largely the people’s expectations in today’s time. 

Imagine loading a website page on your mobile but it takes time to load, so your first instinct would be to quickly close the tab and move on to other sites. Hence, speed is a major reason for drawing mobile web traffic by various companies, however, many fail to do so. Even a tiniest seconds delay in loading of the mobile web can impact the conversion rates up by about 20%. So, the businesses are left with aptly two major choices, first is to either stand on customer’s expectations and give them the speedy mobile web experience or to face low traffic on their mobile web page. 

Importance of mobile speed in leading the business towards growth

While a slow mobile experience could drive the customer away, a fast mobile user interface would help attract and drive more customers towards your websites. A fast mobile experience leads to an increase in revenue for companies and generates brand loyalty. Businesses in spite of knowing the merits of investing in improving the mobile UI did not do so and the main reason for it was simply their belief that single time investment will be enough. Mobile web pages need proper maintenance which is important to enhance the customer’s mobile experience. 

There are various successful brands that opt to invest better in maintaining their mobile web pages. When a page loads slowly, the customer experience quality suffers. While fast loading will help the customer to stay at your page. To cut the load time various companies adopted the strategy under which it prioritized the content, image, and caches on its mobile web page. The result was an astonishing rise in mobile web traffic. 

Let’s take, for instance, the world’s largest private telecom company, Telefónica boosts its growth by adopting well-planned strategies to improve its mobile site speed. It conducted a trial of Accelerated Mobile Pages (AMP) which helped in improving the loading time of its mobile web page. Hence, this helped the company magnify its growth via a successful strategy to fasten the mobile web speed. While another example could be of BMW which boosted its mobile web page speed using services like AMP and progressive web apps, both of which aim towards a safe and smooth mobile view experience for the viewers even under the conditions with poor network. 

 

Understanding how businesses can measure their mobile site speed

The businesses need to spend right and wisely on their strategies to improve mobile web speed. They should know where and how to invest before making any early investments. With Google launching a new tool, Test My Site, it will help businesses to better understand and measure their mobile web speed and further set it according to the need.

Such tools are effective for any type and size of businesses. They ensure speedy mobile web experience without any delay to the customers which further drives the company towards more revenue and brand engagements. With such tools, it has become easier and convenient for businesses to aim towards their brand’s growth. 

Mobile speed is a huge significance in determining the growth cause of many businesses. With people becoming increasingly impatient there’s a lower chance of them waiting on a site that loads slowly. Hence, improving mobile speed is an important strategy to drive wider success growth rate by any company. 

Read More: THE GROWING PHENOMENON OF DARK SOCIAL: HOW IT’S AFFECTING YOUR BRAND

 

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How Can Indian Auto Brands Attract More Female Car Drivers

In a recent study conducted by Google, there’s a rise in the percentage of female car buyers and drivers in India and one of the reasons this can definitely be attributed to various Indian auto brands adopting different techniques and campaigns to attract more female auto buyers. More than ever we see women getting actively engaged in the art of choosing a car either for themselves or for their family. Anyways, it’s a massive step as earlier there was a relatively lower percentage of women driving cars or even buying them. It’s a great opportunity for automobile companies to use such strategies and tactics so that more females could be engaged in the automobile world. 

Here’s a list of the things that female car buyers look for while buying a car and how various auto brands could incorporate these in their campaigns to increase their sales. 

 

  1. Understanding female car buyers expectations

There’s a relatively lower percentage of women than men who are concerned about a car brand while looking to buy a car. Female auto buyers are open to choices and not really worry about brand reputation. They are more concentrated on the car attributes like its design and style, durability & safety and how spacious it is. Such factors are more likely to be accessed by female buyers rather than looking at and comparing various auto brands. Auto brands can easily drive more attraction towards their brand by simply tailoring websites, offers, and campaigns according to the female buyer’s expectations. Hence, understanding the requirements of female auto buyers is the first step that should be adopted by auto brands to attract more of them. 

 

  1. Customizing experiences to engage female buyers

Many female customers before buying from the dealer itself prefer researching and browsing online to get knowledge about various cars and its offers & deals. This data is often used by auto brands company to get insights on what kind of car are the female buyers looking for. Using this knowledge brands could customize their website to suit the preferences of their female buyers. They could launch campaigns and events which could attract and drive more female car buyers and leave a long-lasting impression on them. Various auto brands like Mahindra and Hyundai have initiated car ads to include women at the driver’s seat. This acts as a positive sign on many women planning to buy a car or if not then such ads will definitely force them to think forward.  

 

Find Out More: How mobile apps are transforming the advertising platform?

 

  1. Using an online platform to buy offline

Online platforms are extensively used by many female auto buyers to look for their desired car. They look for offers and deals which they find profitable before they go to showrooms for buying. Through websites women are able to better assess what kind of car they want and if there are any amazing deals on it. They do a good amount of research before they head out to buy a car. So when they visit the dealer he/she should be ready to provide answers to various questions of the female buyers. 

 

In today’s highly advanced world, there are more female drivers than what was earlier. The need is more new strategies and digital campaigns by automobile companies which could attract more female auto buyers.

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How mobile apps are transforming advertising platforms

With smartphones in the hands of every second person and new apps being launched every now and then, it’s slowly and gradually transforming various advertising platforms. There’s a growing trend of advertisers using the apps as a successful trick to ensure that the ads are reaching the decision-makers and directs them towards driving action. Various researches have been conducted to understand more about the reach and impact of mobile apps and advertising in mobile apps.

Why are apps used as advertising platforms?

Most of the apps you use have an ad or two coming up. Be it some media website, utility-based or some basic game like Sudoku or ludo. Each of them has an ad pop up every time you clear a level. This happens because of the following reasons:

 

  1.         Accessibility

The best part of these apps is that they are an extension of the person himself/herself. Since the relatability is so high so people end up using each of these applications multiple times during a day.

 

  1.         Broad audience

The most unique feature of advertising through apps is that they can reach a huge audience in a go. This feature isn’t available in all other marketing channels. Resultantly, it helps in creating unique reach opportunities as well.

 

  1.         Memorable

One of the researchers concluded that most of the people could remember the details of an ad when they saw it in an app. It could be a brand name or the product or something that pokes the interest of the user. Also, the image seems to have a more stressing impact when the ad was viewed in an app or a mobile website.

 

  1.       Stronger response

Since people felt closer to brands when they saw their ads in the apps, therefore they find it more relevant. The audience finds such ads informative and enjoyable. Also, remarketing strategies focus on displaying the last viewed products on repeat. This drives conversions as the products are on display repeatedly. There was a greater chance of them buying a product of a brand whose ads are flashed on an app, rather than on a PC.

 

  1.       Bigger Impact

In-app advertising has proven to be more successful in driving action. People end up feeling more connected to the brand this way. They are more likely to interact with a brand, make a sale of the product or service, follow a call-to-action or recommend a brand to their family or friends after seeing its ad in an app.

 

  1.       Better ad experience

People who view ads on different applications said these brands are more visually appealing in comparison to the ads in a PC. Since these ads don’t interfere with the content and are available for a few seconds, it serves the purpose well. They don’t cover the space of content, thus it doesn’t create a negative impression. Overall, viewers are more receptive to similar ads in the future.

 

Over time, conventional perception is changing.  Earlier mobile ads were considered disruptive and ineffective. But now the perception is exactly the opposite. They are relatable; target audience oriented and deliver better results by making a unique impression.

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