From past few decades the marketing strategies have undergone various changes. The recent change on increase in the price hike for bulk SMS service has been a boon for all the digital marketers. Lately but now the Indian modern marketers were getting comfortable with the data driven marketing which is again impacted by the sudden SMS price hike.
The Indian telecom sector is trying to maintain the Average Revenue Per user, which has been in decline since the new player entered the market an year ago that has pushed the existing providers to consolidate and revise their strategies. The new player made the data cost cheaper than ever before which has brought a great shift in the consumer preference for using new age channels like instant messaging, apps, voice/video calling apps instead of using legacy channels. That means consumers are now relying lesser on SMS services than before.
Since there is a reduction of SMS preference among the consumers, SMS is unlikely to move out of the channel mix. However brands depend on it for their high priority communications such as emergency text or OTP notifications and therefore marketers are looking for some ways to balance this increase in costs. They know that marketing through any channels affects the top as well as bottom lines of business and therefore it is important to choose the right channel that is cost effective.
In marketing there is a concept called as “Marketing spend” which basically depicts a correlation between two words that are supposed to be opposite. It is believed that marketing should be done in such a way that it brings greater ROI with minimal spending. If the ROI generated is lesser than expected the marketer should check and reframe their strategy as well as the channel they use for communication to gain better results.
Similarly in the current situation of price hike there a need to shuffle the cards and use digital platforms where our consumers can be targeted easily and the communication can reach them properly by marketing automation. Also one can engage their customer by new age channels such as web messaging, audience targeting, cookie re targeting and others which allows them to have a smart conversation with their customers. The above stated channels are a low cost channel that reduces the spending on SMS marketing by up to 25% and allows you to listen to your consumer by integrating with artificial intelligence. Another gain from this new age channel is it allows you to personalize your communication.
To achieve your marketing goals be agile, reinvent your channel mix and integrate it with AI on the cross channel marketing platform for achieving growth.