It is not just the print or the television media that has been awaiting the festive season, the online marketplace is likely to see some frenetic buy and selling too. And that means more business for OLX, that provides free, local classified ads.
In an interview to exchange4media, Amarjit Batra, CEO, OLX, revealed his plans to make the most of the window of opportunity and elaborated on how the brand's association with stars Dhanush and Kapil Sharma has been leveraged.
“Festive season is when people are not only just buying, they are selling as well,” he said. “For the past few years we have seen a spike in buying and selling during this time of the year. And this year, things are going to be better because there are more options available.” Typically, OLX experiences 15-20 per cent increase in ads during this season. The marketplace has been created by the community of buyers and sellers, said Batra, mostly from non-metro cities.
However Batra said there is no revenue stream as yet, for “business reasons.” He did not however rule the possibility of monetising from advertisers and individual promoters once the user base expanded. “But the best online service are always free,” he pointed out, citing the examples of google and Facebook.
Speaking about the brand's association with actor Dhanush, Batra said, though his appeal is pan-Indian, most of his followers are in Tamil Nadu. “And we wanted to see how we can connect with that market,” he said. For the rest of the country, OLX has signed on comic-actor Kapil Sharma as brand ambassador. The association, says Batra, has more than paid off. “We have experienced a 15-20 per cent increase in traffic from new users ever since the ads went online. Marketers have complimented us on the move. Kapil Sharma has made the buying and selling of used stuff cooler and interesting,” he said.
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