India's pioneering online automobile transactional marketplace Droom is geared to launch a mega promotional campaign with a budget of Rs. 100 crore.
The new campaign is being launched for television, YouTube, print, digital and social media and will also be seen outdoors on billboards and external installations. The entire campaign is designed to drive traffic and increase consumer awareness and to enhance the sense of pride amongst Indian consumers when it comes to buying a pre-owned vehicle.
Droom, which has reported more than 700 percent year-on-year revenue, plans to adopt an aggressive performance-linked marketing approach which will see country-wide spread of the advertisements. Automobiles, being a big-ticket item, have a significant gestation period which may last from a minimum one month to a year.
"Buying a used vehicle is still shrouded in great doubt for many Indian consumers. This year, through our marketing efforts, we hope to instill a sense of pride in the buyers when they purchase a pre-owned automobile," said Founder and CEO Droom, Sandeep Aggarwal.
"Our focus completely lies in implementing high Return-On-investment promotion options. Furthermore, the 360-degree marketing initiatives will also help us achieve our goal of reaching an annualized GMV of Rs. 3000 crore by the end of 2016 and Rs. five to seven thousand crore by the end of 2017 by enhancing consumer tendency to look at the benefits of purchasing their dream vehicles through us," added Sandeep Aggarwal.
Keeping this trend in mind along with the upcoming festive season when the propensity to purchase vehicles is the highest, Droom will be rolling out the marketing initiatives well in advance.
Of the total 100 crore budget Rs. 25 crore has been allocated to TV, outdoor, print and radio advertising and other ATL activities. Considering the huge market available digitally, a further Rs. 25 crore has been assigned to digital promotional activities such as search engine optimization, online ads etc.
With the festive season in the offing, deals and discounts would also feature significantly in the marketing budget allocation.
Droom's marketing campaign would be a round-the-year process with periods of heightened activity. Catering to seven different cities including Delhi-NCR, Bangalore, Pune, Ahmedabad and Mumbai, Droom envisions Rs. 100 crore budget as the minimum threshold rather than the maximum value allocation, and plans to raise the industry standards of marketing expenditure through its upcoming brand building activities.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)