In the current market environment of India, if a company intends to gain a foothold in the cruel market competition, innovation is the only way. Every entrepreneur must become an innovator as innovation is the foundation of an enterprise’s survival, while continuous innovation is the inexhaustible driving force for the sustained development of an enterprise. How to achieve continuous innovation and development? This requires us to further subdivide the entire market and the industry in which we operate, and further concentrate on data. To do this, we need to rethink the enterprise and the industry from the following three aspects.
- Considering problems from the perspective of consumers
In today’s media environment, it is more about interacting with consumers than mandating. Since the Internet is characterized by more choices, consumers can choose freely. This is also one of the biggest drivers of Billion Media’s continued innovation, that is, enhancing interaction with consumers.
Media is divided into offline and offline media. For instance, outdoor media and elevator media are offline media, while Google, Facebook and YouTube are online media. But now, resource integration of online and offline media can better satisfy consumers. In the past, online media never did integration of offline resources, because consumers conducted CPS (cost per sales) on the Internet, and the number was large. What was hidden behind, however, is that the brand has also put a lot of online advertisements. Consumers have a demand for brand awareness indeed. For any brand, lacking brand awareness won’t work. When the popularity of an enterprise is greater, the conversion rate of advertisements will be higher. In terms of the same advertisement, the click rate has an absolute positive relationship with popularity.
One way to quantify the offline indicators is to divide into two parts (30% and 70%): 70% for the Internet and 30% for offline advertising and brand advertising. 30% of offline brand advertising investment will definitely double the conversion rate of 70% of online advertising investment. When online capacity and offline sales complement each other, the common growth of brand awareness and consumption conversion rates can be achieved.
- Achieving accurate customer positioning
The most basic and important thing for an enterprise or a brand is to accurately find its own consumer group. With the development of the enterprise, your audiences are changing, and the consumer group is also changing, then the positioning of consumers cannot be fixed. At different stages of development, different development strategies should be taken to adapt to the complex and changing the market environment.
Billion Media has also been carrying out data collection, reduction and analysis to provide our consumers with market resources that are more suitable for their products, such as research-based on specific data on community population characteristics, income levels, geographic locations, etc. And resources are graded to provide them with diversified options and precise delivery plans.
3.Adapting to the development situation
Nowadays, as science and technology develop faster and faster, how to apply new technology to activate traditional media forms has always been a question that Billion Media is considering in the development process. Billion Media has always been pursuing the development direction of data operation and precise delivery as well as the development vision to provide a more accurate and efficient media delivery channel for the Indian market. For an enterprise, the necessary criterion to survive in the constantly changing market is adapting to the development of market and thus timely adjusting the development strategies.
Billion Media has also been adjusting its development strategies through constant market exploration, such as update iterative plans of posters and screens, customized marketing solutions for delivered content, price strategies based on changing market conditions, etc., all of which indicate that we are constantly adapting to the situation of market development. In the era with constantly changing media situation, only by advancing with the situation, can we provide consumers with advertising methods that are more suitable for market demand, and can make our advertising platform play a more valuable role.