Online Marketing and Advertising Challenges for Conventional Advertising
In this digital age browsing habits determines the marketing plan. India is benefiting a lot due to online marketplace. Some of the online marketing companies in India are offering millions of products from various categories indirectly benefitting thousands of small traders. Many small traders are shipping their products to the warehouse of online marketing company and some of them get the orders for direct delivery to customers. The whole shopping experience has changed.
e becoming brand ambassadors. Small traders located across Indian cities and most importantly smaller cities are the beneficiaries of the technology. These manufacturers get the same sOne can feel the products online by getting connected to product videos or go through the e-catalogues. Satisfied customers rely on online marketing companies for shopping and also arpace equivalent to the big companies or we can say that if these companies were to advertise their products on par with big companies the budgets would have been astronomical.
A small trader in Jaipur sells daily around 300-400 units of cotton sheets, blankets and furnishing to an online marketing company. There are many small traders like these associated with online marketing companies. It also generates employment for many skilled workers and most important it is removing intermediaries. Some sites offer price and product comparison too which means more choice for the customer. Online shopping has totally changed the scenario of the conventional way of advertising through the print medium. Mobile phones have become the carrier of the powerful medium for online marketing and are benefitting many companies to be in direct touch with the user, understand their browsing habits, data generation etc., ultimately becoming an asset to the company. India has the potential which is fully not explored and there’s a place for some more big players. Also the thousands of small traders.
Many small traders are launch of Jan Dhan Yojana by the government will bring more number of customers under the ambit of online marketing companies. Given the penetration of mobile phones in rural India and the development of logistics, delivery mechanism, a day is not far rural India will live with the urban India on real-time basis. Online marketing is also generating lot of possibilities for online advertising.
Is it becoming a threat to the conventional print advertising? Below the line activities have their own limitations; OOH too faces the same challenge. The immediate change of communication for print advertising takes a day but with online advertising the communication for the next hour, minute and second can be decided in advance. Whereas lot of planning is required for below the line activity which is manpower oriented directed for tactical purpose but comes with geographical/demographic limitations. Data about browsing habits, information on payment patterns (credit or debit card), value of transactions all are being captured to draw a customer database.
Further filtration of data will become a base to develop marketing plan. Take for example a print advert campaign will generate data of 100 calls and the conversion rate is only 2%. Data generated post transaction with online marketing will generate more conversion compared to print advert. It’s time to adapt to the changing scenario.
– Ramkrishna Bankapur, Pune