BFSI VISION | Social Media Strategy


Naveen Bachwani

Founder & CEO, ThinkShop
Technology and Business Solutions

New media changing the face of Indian users

2014 has seen a number of trends emerging in the technology arena - big data is getting bigger, the cloud is getting personal, and everything is moving to On-Demand. A NY Times study in Jan 2014 confirmed what we may have realized intuitively – we now share more content, from more sources, with more people, more often and more quickly than ever before. So, how does all this impact the world of Social Media?

India is already the second-largest mobile phone user in the world with over 900 million users. And, initiatives like Android One are only going to help, making it extremely affordable for millions to switch to internet-enabled smartphones.

Current estimates active mobile Internet users in India between 167Mn and 185Mn, as compared to the total Internet active user base of about 243Mn. And, as much as 70% of all Internet traffic in India is being generated from mobile phones and tablets.

India ranks #2 on Facebook and LinkedIn worldwide. So, we have clearly come a long way from our early days on Orkut. But today, Social Media marketing is no longer about collecting "likes" – it's about engaging with your customers in a meaningful and relevant manner. And, what better vehicle to go "Social" than a data-ready mobile device that you always carry with you?

Indians are averaging more than 2.5 hours a day on their mobile devices, and a lot of that time is being spent on social networks and interacting with their friends via Whats App. As marketers figure out more intelligent ways to reach this audience, we will see digital marketing in all its forms becoming more mobile-savvy and location-aware.

Wearable Computing is another emerging trend that is likely to impact the world of digital marketing and Social Media. The next few months will see a number of smart watches and fitness trackers being launched. And, as consumers take to them in large numbers, app developers and marketers will also embrace these new technologies to make their usage more social.

The next few months may well see the beginning of a "Mobile First" thrust by marketers who are serious about staying engaged with their customers.