Social Media landscape in India and Future Outlook

What is the market landscape - how big is the social media market in India, current state of the sector
Social media benefits companies by enhanced understanding of their brands or products. While this persist to be an imperative rationale for social media espousal, the top-most motivation why businesses are using social media has taken a paradigm shift to building communities and campaigner to directly or obliquely facilitate in crafting optimistic word of mouth. Community present proposal for brands to get in touch with several prospective clients at one go for advertising initiatives. In the long run, it facilitates in generating augmented consumer trustworthiness, enhanced and swift resolution of purchaser queries, lowering of promotion costs. Few years ago companies set a one-way metric such as awareness as the pinnacle motive for social media usage. Present day swing is likely to be in part due to the almost irresistible Facebook phenomenon, nonetheless when the influence of social networks is comprehended by service providers, the clients stand to promote the most. In the present day companies want to get in touch with consumers and employ with them directly. The insight achieved from social network usage facilitates brands to further tailor customer reach.

Misconceptions of social media Companies use social media platform for acquiring new businesses. Nevertheless, presently there is no set process to assess triumph on social network. And for that reason brand managers ought to be evident about what they must anticipate from the complete implementation and clear the misapprehension. A key fallacy for brands which are presently beginning to get on top of the bandwagon is attaining a definite integer of fans or followers in an extremely small period of time and altering the product insight. Marketing specialists also consider that having thousands of like and followers is a noteworthy accomplishment and they possess that audience. The truth remains that it is only a figure with no momentous worth, unless stable engagement in an assortment of forms is set off. Challenges of social medium Although social network is a budding medium, it has manifold proposals and is an extremely fragmented medium. The prime confront for any brand is to recognize their appropriate room on the web and work around that by fetching out applicable communication in the space.

2. Who are the key local and international players and what has been their strategy According to a report by the Internet and Mobile Association of India, Facebook is the foremost website accessed by 97 per cent of all social network users in the country with the typical regularity of social media access seven days a week. Facebook is the desired playing field for social media-savvy business in the country to engage in day to day discussions and promotional activities. Google+ (G+) positions it at the subsequent widely accepted social network site. The study reveals that about 35 per cent of the social media stand is from little towns. As for Twitter, although it crafts a contented zone amongst its regular user, diverse approach is considered necessary to advertise brands. Another fascinating takeaway from the research is the awe-inspiring employ of smart phones to gain access digital content. The inclusion of regional language content has made social network a special approach of communication; as community favor to be in touch in their local language. Advertising agencies nowadays have started to make YouTube specific advertisements as alongside repurposing Television commercials. Blogging followed YouTube as the next significant stage for companies. Majority of the companies have in progress experimenting with the Pinterest and Foursquare platforms. In this circumstance, it is imperative to bear in mind that while business find social network a superior stage to network with consumers and fabricate communities, for most customers, social network is regarding connecting with friends and families and not greatly regarding interacting with brands.

3. Key consumer trends - key trends that are impacting usage and will influence future consumer behavior Type of content: A preponderance of social network savvy companies desire to keep posted generic information in its place of product updates. Regularity of update and retort: Social media-savvy companies place numerous updates a day. Bulk of social network-savvy companies retorts to fan inquiry within 60 minutes on Twitter and within 30 minutes to a few hours on Facebook. Contests/promotions: Iemage contest are foremost trendy contests amongst social media-savvy companies in India with many contests planned monthly. Policies: Most of social network-savvy companies in India have social media strategy for enhanced governance and online scrutiny plans to take note of conversations; nevertheless, fewer than half contain crisis manuals. Tools used: Numerous companies in India use tools for web monitoring, retort administration, or running social media platforms.

Social media for market research: Most of the social network companies in India have carried out research activities like polling on the social media platform to get client response and comprehend more regarding purchaser behavior. Mobile: Majority of organizations in India has fashioned mobile phone applications and the remaining companies have plans to create one. 4. Innovation - give two good examples of social media campagins and explain why they were innovative Pockets by ICICI Bank - Social Media Campaign The liberalized economy faced with an innovative campaign by ICICI bank extending its brand through social media i.e., facebook to facilitate transactions. The campaign has helped them achieve great accolades in brand innovation and this pioneering effort in developing an application (app) has a positive response from the customers as it is user friendly. The innovation was needed as the footprint of social media in brand and product management is deemed to be necessity driven. Virtual money transfer campaign was successful for its flexibility which permits user to transfer money, book movie tickets devoid of the hassle of remembering too many numbers and alphanumeric passwords. Objective: ICICIs most recent Facebook campaign, Pockets by ICICI Bank, is intended at the youthful and vibrant youth smoothening the progress of monetary transactions, socializing actions and sheltered transfer of funds. The promotion directions evidently shape that the transactions can take place connecting ICICI and other bank through its Facebook app, which emerge multilateral and user-friendly. Execution: The first trait of the app Split n Share permit customers to crack and follow group expenses and share with their contacts on Facebook. The Pay a Friend characteristic of the app permit clients to transfer money to their associates devoid of having to disclose any bank account particulars like account number, bank branch, branch IFSC code etc. With this facility, consumers can generate electronic coupons that can be cashed in by their contacts on the ICICI banks website. Whilst the app promises clients of protected transaction at almost each pace, it also tender non-financial dealings to clients who can also carry out a broad array of non-financial dealings through this app. Positives Pockets by ICICI app is only one of its kind hi-tech innovation by ICICI Bank. The app is expedient and user friendly. This innovation is aligned with ICICIs thinking of Khayaal Aapka in which the bank suggests products and services which make banking hassle free and suitable for clients. It is an incorporated attempt by the brand name to acquire its core communication out to social media. Through the redeemable coupons approach, the app incorporates offline banking with online banking. In total, the promotion smoothens the progress of rational applications, negotiations, events and

connections. The expense gateways of the application are exceedingly protected and the strategy without doubt state that. Bingo! Share a Tangle Campaign- Social Media Campaign Objective: With the Share a tangle Campaign Bingo has employed with a buzz about the tangle on Facebook. Bingo! Share a Tangle Campaign endorse peer to peer distribution by heartening users to share Bingo tangles with five friends. This possibly will be motivated by the push to accomplish out to the university going mass which munchies on tangy stuff are most probable to share it with associates. Execution: The application allows the user scan their friends catalog to opt for one friend with who they can share a bunch of Bingo Tangles. To personalize the sharing experience there is an additional feature where users can write messages as a simple text, audio and yet document a video communication for the recipient included. The receiver has to then claim his/her Tangle by entering their particulars and Bingo would distribute the Tangles at their doorstep. Positives The promotion gets thumbs up for its unswerving brand message Khaoge toh Khilaoge. It engages contacts of fans and generates a ripple outcome thus enhancing the virality of their campaigns. If one desires a free bingo, then friends should share the message. By connecting friends the company not only promotes the brand but also enjoys a complimentary pack of bingo thus caring the online-offline incorporation. Finally, the audio/ video documentation make it added motivating and tailored. 5. Future outlook - how do we see this sector evolving? Social media campaign organizations are very buoyant about the task of social media in their association. Though calculations of sales and lead generation are not much obvious for much of companies today, however they comprehend that social media plays a significant task in creating insights and building communities. In prospect, the expansion of social media inside companies will be noticeable by a mutual augment in level and cleverness. Increase in scale Companies will mark along the expansion of budding platforms and attempt to influence the consumer that these novel platforms will magnetize. Budgets on social media advertising will augment as a consequence of amplified superiority in promotion agenda and implementation in other departments. Increase in sophistication As companies aim at increased Return on Investment (ROI) from social media, they will strive to hunt for additional precision and command more than likes and comments. In such an atmosphere, they will

devote more in study and approach to look for further response capable to characterize quantifiable conclusion. The mounting call for to carry out worth and Return on Investment (ROI) will command additional insight and innovation. Social media schemes will turn out to be more incorporated with promotion programs, client service efforts.

References Internet and Mobile Association of India http://www.iamai.in/PRelease_detail.aspx?nid=3190&NMonth=10&NYear=2013 The Economic Times http://economictimes.indiatimes.com/tech/internet/number-of-internet-users-in-india-to-reach-24-3crore-by-2014-iamai/articleshow/25707197.cms