In a free-wheeling conversation, ibibo’s spearhead talks about the growing dominance of social networks in the ad world…
How has social networking evolved over the past few years?
In context to India, we see that social networking is being
embraced aggressively by the young population from tier-II and small cities. These young people have a very big need to reach out – to express themselves. They want to build new social graphs and new connections. The other trend is the emergence of niche social marketing
But still, we don’t see youth-oriented ads on social networks?
It’s an evolving phenomenon. We are seeing growth coming from younger audience in non-metro areas. But brands need to be educated on Internet media and social media. Social media platform cannot be used in the way you advertise on a portal or search engine. Social media marketing can only be done by engaging the audience. This is only possible by developing products and applications that can track the audience. Since it’s a new trend therefore marketers needs to be educated in an effective way. We see this as a positive trend, as companies are realising the potential and have started embracing social media. ibibo has just launched a very impressive social media campaign along with Kwality Walls.
ibibo is doing two campaigns with MTV. Who, at the end of the day will be benefited more out of it?
When we associated with MTV, our objective was to build a reach for our product. The core philosophy of our product is to enable the talent and expression of young users.
Where do you plan to focus more?
Our long term growth will come from the 15-24 year age group from smaller and tier-II cities. That will be the main thrust of our business. We already have seven million registered users.
How do you plan to capitalise on growing advertisers’ interest?
We are providing advertisers a platform where they can develop applications and get engaged with the youth.
Do you focus more on the number of users of ibibo, or on the time spent by existing users on ibibo?
Our focus is on active users and time spent on the platform. We don’t want users who register, but are not active.
A lot of companies like MTV are using the social networking sites to increase their popularity. Will this trend continue in future as well?
Brands and companies have started seeing the value that this medium brings to their marketing solution. But a lot still needs to be done to make brands realise the humungous value of social networking as a marketing tool.
The popularity of professional networking sites is also on the rise. What’s your take on that?
Professional networking is an important niche, though it is not as broad as social networking. ibibo as a company is not going to get into professional networking. We will continue to be based on talent and entertainment social networking.
Is there a scope for more niches in the social networking arena?
Oh yes, there is a lot of scope for development of niches. But ibibo will continue focusing on entertainment and talent based social marketing. Our strong focus right now is to develop a family based social networking site called Onefamily.com.
What are the main sources of your revenue?
Presently advertising is the main source of our revenue. But in the long run we aim to generate revenue through other value added services.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
How has social networking evolved over the past few years?
In context to India, we see that social networking is being
embraced aggressively by the young population from tier-II and small cities. These young people have a very big need to reach out – to express themselves. They want to build new social graphs and new connections. The other trend is the emergence of niche social marketingBut still, we don’t see youth-oriented ads on social networks?
It’s an evolving phenomenon. We are seeing growth coming from younger audience in non-metro areas. But brands need to be educated on Internet media and social media. Social media platform cannot be used in the way you advertise on a portal or search engine. Social media marketing can only be done by engaging the audience. This is only possible by developing products and applications that can track the audience. Since it’s a new trend therefore marketers needs to be educated in an effective way. We see this as a positive trend, as companies are realising the potential and have started embracing social media. ibibo has just launched a very impressive social media campaign along with Kwality Walls.
ibibo is doing two campaigns with MTV. Who, at the end of the day will be benefited more out of it?
When we associated with MTV, our objective was to build a reach for our product. The core philosophy of our product is to enable the talent and expression of young users.
Where do you plan to focus more?
Our long term growth will come from the 15-24 year age group from smaller and tier-II cities. That will be the main thrust of our business. We already have seven million registered users.
How do you plan to capitalise on growing advertisers’ interest?
We are providing advertisers a platform where they can develop applications and get engaged with the youth.
Do you focus more on the number of users of ibibo, or on the time spent by existing users on ibibo?
Our focus is on active users and time spent on the platform. We don’t want users who register, but are not active.
A lot of companies like MTV are using the social networking sites to increase their popularity. Will this trend continue in future as well?
Brands and companies have started seeing the value that this medium brings to their marketing solution. But a lot still needs to be done to make brands realise the humungous value of social networking as a marketing tool.
The popularity of professional networking sites is also on the rise. What’s your take on that?
Professional networking is an important niche, though it is not as broad as social networking. ibibo as a company is not going to get into professional networking. We will continue to be based on talent and entertainment social networking.
Is there a scope for more niches in the social networking arena?
Oh yes, there is a lot of scope for development of niches. But ibibo will continue focusing on entertainment and talent based social marketing. Our strong focus right now is to develop a family based social networking site called Onefamily.com.
What are the main sources of your revenue?
Presently advertising is the main source of our revenue. But in the long run we aim to generate revenue through other value added services.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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