Innovative and Cost-Effective Advertising for SMEsFebruary 15th, 2012 | Posted by in Articles and Opinions
Since liberalisation, when the economy was seen turning over a new leaf, SMEs have spearheaded India’s technical and service expertise in several industries. By operating in every tier of workmanship—from servicing suppliers to servicing consumers—SMEs have fit like a piece of a jigsaw into the rich tapestry of the Indian economy. The rallying support of local folks that have been receptive to their quality offerings, are among the main reasons of their success. But what happens when such SMEs want to grow? How do they appeal for acceptance across districts and dialects?
At such points in their growth stories, SMEs must consider innovative, affordable advertising methods that help them get there. The opportunity to strike gold in non-metro markets emerges from the fact that it translates to a population of 800 million consumers that display low brand loyalty today. Audio advertising and OOH (that is predominantly pictorial) is perfect to reach such markets because of a set of factors. For instance low literacy does not allow full utilisation of the medium of print, while TV is dependent on unsteady power supply. Conversing with the audience in their language, at a time convenient to them is therefore a relevant solution.
A pertinent example of such an advertising strategy is Vritti i-Media’s innovative audio advertising solution for advertisers. The company has tied up with the Maharashtra State Road Transport Corporation (MSRTC) with a view to broadcast advertisements at district bus terminals. They are the sole agency authorised to run audio commercials alongside arrival/departure announcements. This arrangement enables them to create recall among passengers frequenting travelling on these bus routes. These advertisements penetrate more than 80 locations in rural Maharashtra reaching 103 million people. The cost of using this medium per person is 10% of other media, despite its phenomenal impact on those passengers that are eagerly awaiting such announcements. These ads play 16 hours a day and may be heard up to a 100-meter periphery.
SMEs also get to choose from a bouquet of options. Transit advertising or advertising at food malls (on highways) are beginning to see success. An instance of transit advertising was the 9X Jhakaas campaign conducted at ST Depots in Maharashtra. Travellers could watch the channel’s shows on a TV mounted in the busses. They were offered not only a free ride in those buses, but also given goodies and prizes. In this way, thinking out of the box can enable SMEs to spread their word far and wide through such dynamic and innovative means.