PayU India is one of the largest consumer payment processors today with prominent presence in India, South Africa, Eastern Europe, Latin America and China. Saranjeet Singh, Head-Digital Marketing at PayU India, is responsible for developing and implementing strategies for ROI based performance campaigns and brand marketing initiatives.
In an interview with exchange4media, Singh speaks about digital marketing trends, the growing popularity of digital payment gateways and the challenges in the sector.
How has digital marketing impacted the Indian business landscape?
Digital marketing has changed the way businesses used to look at marketing. The ability to reach out to specific audiences, deliver relevant communication, reach out to same audiences multiple times through multiple touch points, keeping them engaged etc., have facilitated a fast track user movement in a purchase cycle.
The ability to track every action, reaction and marketing spend has forged the statement saying 'Marketing is the new Finance.’
How does content marketing attract the best sales opportunities given the fact that it adds value to the users indirectly?
Content marketing is one of the most challenging marketing channels in online world. Not by the virtue of its low and slow conversion from reach to sale, but by the virtue if deciphering and adhering to the objective of doing content marketing.
Content at its core caters to information needs of a user and can go for a toss if the objective is pushed hard towards direct sales. It adds up as a lethal tool to drive engagement and thought leadership within your target audience, and should be used in this manner only.
The prime value of content lies in creating a 'This is cool' rather than creating 'This is it'.
How is video advertising becoming an effective content consumption trend?
Video advertising is witnessing an inevitable growth trajectory for two reasons--smartphone penetration & improved internet bandwidths, which have considerably increased the consumption of online video content.
As we say in conventional marketing, a picture is worth 1000 words and a video is worth 10,000 pictures. Coming to digital, videos are an absolute game changer. It can facilitate the transition of a user from ‘Awareness to Consideration to Purchase’ like never before. Smart marketers leverage this by coupling content with various targeting platforms to ensure relevancy and engagement with their audiences.
PayU Money has also been a front-runner in creating holistic video strategies as featured by Google in their case studies featured on 'ThinkWithGoogle' from Asia Pacific region. Apart from this, Google has also released video related case study featuring the Video strategy (TV + Online) of PayU Money.
With more marketers using videos smartly, the video consumption is bound to go higher in near future.
What is the future of mobile advertising in India?
Mobile advertising is now giving way to mobile marketing. Though this fundamentally means one and the same, but essence lies in the fact of delivering right content to right users at right time. Both marketers as well as mobile targeting platforms have evolved with advanced filters and algorithms to ensure relevancy for a user.
Mobile marketing is a warehouse of user data and marketers have started using this intelligently to drive a shift from advertising to relevant marketing.