India has shown significant progress in the usage of digital technology. Internet connectivity is also increasing at a rapid pace; with anticipated 460 million+ users, India has the world’s second-largest internet-using population, after China. While the rapid implementation of digital technology in the Indian market undoubtedly highlights India’s expanding stature as an emerging superpower, it also presents incoming tech-driven company ventures with a feasible opportunity to advertise their facilities to the unique Indian consumers.
Gone are the days when firms relied on mass marketing techniques like banner ads and television commercials to achieve visibility; rising interconnectedness and mobile-based solutions have turned the entire marketing notion on its head.
Growth marketing vs traditional marketing
Modern growth advertising has finally acknowledged that the client is the primary focus and has shifted its focus back to where it should have been in the very first place. Another problem of the traditional strategy is that it is focused primarily on client acquisition. Growth marketing is not the same as brand marketing or digital marketing.
Growth marketing has evolved into a necessary component of today’s firms. Traditional marketing frequently depends on tried-and-tested techniques to reach clients, whereas growth marketers use growth-hacking techniques to test multiple routes and tactics on a routine basis, gradually modifying their testing to discover how to get the most from their advertising budget.
Marketing is essential for developing a link between clients and the company’s market offering. Growth marketing is applied in places other than the top of the curve.
India is seeing an increase in the use of digital marketing methods.
In the fiscal year 2020, the digital advertising sector in India had a market size of roughly 199 billion Indian rupees, up from around 47 billion Indian rupees in the fiscal year 2015. This is expected to rise to roughly 539 billion rupees by the fiscal year 2024, demonstrating tremendous growth in the industry.
Benchmarking for purposes of meeting business objectives
Setting performance benchmarks can help you achieve your business goals and objectives. Benchmarking examines how your company compares to competing companies. This will assist in highlighting improvements that a corporation can make to raise profits, cut expenses, and effectively manage corporate operations.
Create a marketing network
Shaping promotional strategies with a flawless permutation and combination rule will aid in reaching last mile objectives. The nature of the business may direct you to specific marketing channels. For example, an auto mechanic could wish to send coupons to prospective clients within a radius of his shop, which is a goal that can be accomplished by direct mail. (However, many digital advertising platforms today could also show commercials and coupons based on the geographical location.) Similarly, an accounting firm may discover that concentrating on SEO in its immediate community is the most effective method to engage prospects and clients.
Every successful SaaS firm is built on active and productive users. The service provider will not achieve product-led growth unless it has a consistent stream of users who utilize the product on a regular basis. Product marketing would guarantee an engaging user onboarding process, resulting in a greater retention rate.
Cross-promotion as a means of increasing user base
Cross promotion is a business approach that will help it succeed by increasing the organization’s user base. It occurs when an application marketer uses audience segmentation from an existing app to promote a new app.
It’s also a smart option to reach out to inactive consumers of the old application in order to pique their interest again. The reason for lapsed users could be that they are looking for a fresh app experience, and your new app could be just what they would be looking for.
Promoting significant new customer offers on application platforms
With so many shoppers acclimated to receiving coupons, discounts, and other promotions, a robust promotional plan is essential. Offering discounts, implementing a loyalty programme, or developing promotional marketing methods can assist the company in both good and bad times. The strategy should be centred on attracting and retaining loyal clients.
Future of growth marketing in India
Since the Department of Electronics and Information Technology established Digital India, India’s use of digital platforms has gradually increased. There has been a continuous surge in growth marketing tactics in recent years.
By 2023, the number of active Indian internet users would be over 666 million. According to a Global Data research, the Indian internet business sector would reach 7 trillion rupees by 2023 as a result of shut-downs across the country. According to a Goldman Sachs estimate, the effective marketing profession potential in the Indian market would be worth $160 billion by 2025, which is several times the current value. This upward trend appears to be continuing in the coming years.
Once the transaction was made, the traditional marketers had nothing to do with the customers. There was no thought given to after-sales services. Even the beginning of the sales process was problematic. To pitch a sale, the manager would keep calling a client or visit them face to face. The introduction of internet sales threw everything into disarray. Organizations were supposed to deliver more than that by the new age. As a result, businesses quickly recognized the importance of focusing on their products after the sale was completed. The old-school marketers became obsolete, and the new-school marketers took their place.
Growth marketing assists in the formation and maintenance of a company’s or its product’s online presence. Growth marketing should be included in each organization’s toolkit since it is a potent instrument for assessing an organization’s online and social presence. It can assist in the creation of a community that participates in the massive amount of eCommerce, by pushing it to the top of search engine rankings. Having a growth marketing strategy is an excellent technique to unlock your company’s digital future.
Views expressed above are the author’s own.
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