A Booming E-Commerce Landscape Means Stiff Competition in India
The event began with a welcome from Lukas Krejca, Head of ROI Hunter MENAPI, who kicked off the first presentation segment that dove deep into the growth of the Indian eCommerce market. India’s e-commerce marketplace is valued by Deloitte at $200 Bn and predicted its growth to $1.2 Tn by 2021. Interesting stats show that 28% millennials in India purchase products due to social media recommendations, and 63% millennials stay updated on brands through social media. Lukas dove into what these numbers mean for marketers and brand competition.
Lukas then discussed the importance of having a well thought out always-on strategy. An ad hoc approach to campaigns used by many clients usually results in overlapping competition, difficult reporting and misattribution of results. By implementing a ‘See, Think, Do, Care’ framework, professionals can achieve better results and scalability on their campaigns as it allows marketers to identify different channels for different stages of a users’ journey. For e.g. this principle can be used in all phases of the user journey for Facebook Advertising.
YouTube for Action
Our first external speaker was Tanvi Agarwal, a Product Marketing Manager at Google. With so much emphasis on the importance of videos, a conversation about YouTube was just around the corner. Tanvi broke down her presentation into 3 parts: ‘Understanding how Youtube can be leveraged as a full funnel advertising solution’, ‘Help you build the best creative’, and ‘An in-depth discussion about different case studies’.
India’s online population of 400 million is set to hit 650 million by 2020 with YouTube watch time and reach increasing year on year, Tanvi discussed marketers properly utilizing YouTube as a legitimate advertising option. Some key tips include:
Tanvi also explained the effect different video lengths can have on performance effectiveness and efficiency as well as the importance of building creatives for the device (TV of mobile) as opposed to the platform.
Some real case study examples help demonstrate best practices on YouTube. Tanvi spoke about how Auto brands are marrying the intent of Search with the visual power of video to drive lower funnel performance. For example, Renault ran YouTube for Action ads targeting people who had already searched for specific terms on Google Search related to Renault’s brand:
Using intent signals in their campaign targeting results in Renault seeing:
60% more conversions and 50% lower cost per lead from this campaign than they had seen on average from any other 2017 campaign.
Another example is Ford, who decided to take a 2 pronged strategy, reaching both people searching for their new Ford Ecosport, as well as people searching within the category or for competing brands. Ford saw that visits from people who they reached on YouTube based on their interest in the new Ford Ecosport, where 15X less than they saw from their print advertising.
Creatives that Convert Users to Buyers
Next up was ROI Hunter’s Customer Success Team Lead, Kingston Benjamin. His experience with eCommerce strategies provided invaluable insights into the evolution of creatives towards a video dominant format. With impressive stats such as an 80% brand recall and a 64% chance of sale after watching a Facebook ad, Kingston explored why eCommerce marketers are underutilizing this opportunity especially with regards to Instagram Stories that are ‘taking over the world’. With compiled data across the region teamed with personal experience, Kingston believes a greater focus on video ads can greatly benefit eCommerce marketers in India and help achieve their performance goals.
Can you create a video ad in under 5 minutes? Challenge accepted.
The new part of ROI Hunter’s platform was born to help marketers make beautiful videos in under 30 minutes. With the recent launch of Creative Factory, we couldn’t wait to show off its capabilities in a live demo in front of all the participants at DelhiROI.
Kingston asked the audience to raise their hand if they own an e-commerce business and selected one participant at random. The timer was set: 5 minutes. Pulling from the e-commerce feed for images and pricing, and using the beautiful preexisting templates and animation options in Creative Factory, Kingston created a video ad in 4 minutes and 32 seconds.
To find out more about Creative Factory click here: https://www.roihunter.com/blog/introducing-creative-factory
Create to Convert: Bringing Motions to Stills
‘75% of total mobile data traffic by 2020 will be video’ said Rishad Ganapathy, an Industry Manager at Facebook, and the last of our speakers at DelhiROI.
Rishan went on to discuss the challenge presented by a world that’s moving quickly towards video, quality video is difficult to produce for many performance marketers given the quantity of assets needed to drive DR results. The opportunity which follows which is that mobile opens a door to new lightweight high-quality video solutions that show early signs of success when used for performance. And finally, Rishad broke down the concept of Create to Convert which is a strategic approach to adding lightweight motion to still images, demonstrating how the addition of video to the mix of DR campaigns drives performance.
The last segment, the crowd favorite panel session, included Gyan from Paytm, Nalini from Facebook and Dhruvil from Shopclues. The main topics of discussion covered key e-commerce marketing trends in 2019, discussing how and what creatives are the most effective in a marketing strategy and what steps are necessary to prepare for occasions of high competition such as Diwali.
The team at ROI Hunter was excited with the success of the first ever meet-up and can’t wait for the next one! If you missed this meet-up, don’t worry we will be back soon. Leave us a comment to let us know which city we should visit next and what you want to hear about at the next event.
To learn more about ROI Hunter services, request a demo from our team.