Advent of the Online Media

Just the other day I was in talks with the owner of a start up healthcare firm. The million dollar question that he posed was "Is there any genuine value for brands to engage with the online media in India?"

One of the key reasons some companies are skeptical of the online medium is because it not very easy to demonstrate the ROI from this medium. Almost all measurements have been mainly focussed on the number of fans/audience/users they have been generating and the visitation frequency. There is no way to to measure the value generated by engaging the audiences.

On the plus side online marketing makes consumers who are repeatedly exposed to adverts assign unconscious significance to the brand. It might not produce immediate sales impact, but it will still have an impact. The marketing has to be consistent and for a few seconds take charge of the consumer's environment. It is also important for the companies to keep a track and monitor where their customers post information, interact and collaborate, and then leverage those mediums to engage them constructively and persuasively. According to IAMAI (Internet and Mobile Association if India) at 100 million India has the third largest internet user base globally. Also with 40 million mobile Internet users and with the introduction of 3G, this space is expected to grow substantially.It is therefore,the appropriate time to invest in this domain.

Once you have managed to capture an audience, it is important to keep them engaged through regular product information updates, conversation, videos, photos, contests and special offers. These mediums should not be looked at as avenues to generate direct purchases, but rather as a mediums to achieve long term goals such as generate consumer insights through interaction and engagement, arouse loyalty, and higher brand advocacy and recall.

I would say I am quite bullish about the online media and see it as another added avenue for brands and consumers to connect.