MAM
Digital ad spend pegged at Rs 13000 crore in 2018
MUMBAI: With the growing demand for smartphones and falling data prices, digital advertising are likely to increase in India from the current level of Rs 9800 crore to Rs 13000 crore by December 2018 growing at a compound annual growth rate (CAGR) of 35 per cent.
According to data by Associated Chamber of Commerce and Industry of India (ASSOCHAM), due to easy and widespread availability of 3G and 4G services and the on-going surge in internet penetration in the country will lead to an exponential increase in digital advertising in India.
The digital advertising spend was estimated to be around Rs 7,500 crore at the end of 2016. Around 50 per cent of their overall advertising spend was on digital followed by e-commerce, telecom, technology and banking, financial services and insurance companies.
The paper jointly brought out by ASSOCHAM and KPMG has stated that mobile transactions accounted for 42 per cent of total e-commerce sales in 2015 and that developing a mobile strategy has been an important agenda for many of the leading e-commerce players in the country over the last two to three years.
India manufactured 11 crore mobile phones worth Rs 54000 crore in FY16, showing a year-on-year growth of 83 per cent and 186 per cent, in volume and value terms, respectively. With the ability to provide feature rich yet affordable handsets, domestic manufacturers’ share of the handset market is slated to grow further.
According to said paper, the market for mobile handsets in India is growing at a fast rate. It has grown at a CAGR of nearly 15 percent from 2011 to 2016. It also contributed nearly 7.6 percent to the global smartphone market.
The digital advertisements are flexible and can be adapted for any kind of device like television, laptop, tablet, or smartphone. The two-way interactive capability and the ability to customise the ad for target audience also make digital advertisements more effective, noted the paper.
More than 235 million people in India access internet through mobile devices. This is the primary reason for e-tailers to focus their efforts on mobile app penetration across the country. The mobile applications are helping to reach more customers located even in remote and rural areas, as per uniindia.com
E-commerce companies have been able to bridge the service gap considerably by sending service updates and other communication via their mobile app, e-mail, and SMS. Customers can get alerts, view product catalogues, purchase and pay with a simple mobile application offering a compelling user experience.
TAGS: Digital, India, ASSOCHAM, KPMG, E-commerce
MAM
Manappuram Finance appoints Sreekanth P V as group head – operations
22-year veteran from Bajaj Finance to drive efficiency and customer experience.
MUMBAI: Manappuram Finance just upgraded its operations engine because when customer delight needs turbocharging, even the gold loans get a smoother ride. Manappuram Finance Ltd has appointed industry veteran Sreekanth P V as group head for operations & customer experience at the grade of president. In his new role, Sreekanth will lead efforts to strengthen operational efficiency, enhance customer experience, streamline processes, drive service innovation and scale the company’s digital ecosystems across all business verticals.
Sreekanth brings over 22 years of experience in operations management, digital platforms, product innovation and customer experience within the financial services sector. Most recently he served as deputy executive vice president for digital platforms at Bajaj Finance Ltd, where he led the development of a unified app and web platform strategy and built a cohesive digital ecosystem.
Manappuram Finance, chairman and managing director V. P. Nandakumar said, “We are pleased to welcome Mr Sreekanth P V to the leadership team. He brings extensive experience in operations management, digital platforms and customer experience. As we continue to strengthen our operational capabilities and enhance customer engagement, his expertise will play an important role in driving efficiency, innovation and service excellence across the organisation.”
The appointment reflects Manappuram Finance’s ongoing focus on building a stronger leadership bench and elevating operational standards as the company scales its lending and customer engagement capabilities.
In a sector where every rupee counts twice, Sreekanth isn’t just joining the team, he’s the new conductor making sure the entire orchestra of loans, digital flows and customer smiles stays perfectly in tune.
