Droom, an online automobile marketplace, is geared up to launch a mega promotional campaign with a budget of Rs 100 crore. The new campaign is being launched on television, YouTube, print, digital and social media. It will also be seen outdoors on billboards and external installations. The entire campaign is designed to drive traffic and increase consumer awareness and to enhance a sense of pride among Indian consumers when it comes to buying a pre-owned vehicle.
Droom, which has reported more than 700 per cent year-on-year revenue, plans to adopt an aggressive performance-linked marketing approach that will see country-wide spread of advertisements. Automobiles, being a big-ticket item, have a significant gestation period that may last from a minimum one month to a year.
Commenting on the marketing budget, Sandeep Aggarwal, Founder and CEO Droom, said, “Buying a used vehicle is still shrouded in great doubt for many Indian consumers. This year, through our marketing efforts, we hope to instil a sense of pride in the buyers when they purchase a pre-owned automobile. Our focus completely lies in implementing high return-on-investment promotion options. Furthermore, the 360-degree marketing initiatives will help us achieve our goal of reaching an annualised GMV of Rs 3, 000 crore by the end of 2016 and Rs 5-7, 000 crore by the end of 2017 by enhancing consumer tendency to look at the benefits of purchasing their dream vehicles through us.”
Keeping this trend in mind along with the upcoming festive season, when the propensity to purchase vehicles is the highest, Droom will be rolling out the marketing initiatives well in advance. Of the total Rs 100 crore budget, Rs 25 crore has been allocated to TV, outdoor, print and radio advertising and other ATL activities. Considering the huge market available digitally, a further Rs 25 crore has been assigned to digital promotional activities such as search engine optimisation, online ads, etc. With the festive season in the offing, deals and discounts would also feature significantly in the marketing budget allocation.
Droom’s marketing campaign would be a round-the-year process with periods of heightened activity. Catering to seven different cities, including Delhi-NCR, Bangalore, Pune, Ahmedabad and Mumbai, Droom envisions the Rs 100 crore budget as the minimum threshold, rather than the maximum value allocation, and plans to raise the industry standards of marketing expenditure through its upcoming brand building activities.
Founded in April, 2014 in Silicon Valley, Droom is India’s first and largest marketplace to buy and sell new and used automobiles and automobile services. Droom has taken a completely innovative and disruptive approach to build trust and pricing advantages for buyers.
