Have allocated Rs 225 cr towards marketing and advertising during current financial year: Sandeep Aggarwal, CEO & Founder, Droom
As Droom allocates a sizeable budget for marketing and advertising this financial year, we spoke with Sandeep Aggarwal, Founder and CEO, on Droom's USP, expansion plans and differentiating marketing points. Excerpts:
Droom is in a fiercely competitive place. What according to you is your USP?
Droom is steadily gaining a lot of positive traction which has not only enriched the industry, but also provided the buyers with a lot of options. Droom has established itself as a renowned player in its domain with a clear edge over its competitors by being a comprehensive online automobile transactional platform rather than just being an informative one.
Droom offers an end-to-end transactional platform along with various ecosystem services tools such as â€˜Orange Book Valueâ€™ (OBV)- pricing engine for assessment of a fair market value in 10 seconds, â€˜Droom Historyâ€™ for sourcing vehicle history records, â€˜Ecoâ€™ for vehicle inspection, â€˜Droom Discoveryâ€™ that offers dozens of pre-buying tools and â€˜Droom Creditâ€™- Indiaâ€™s first and only marketplace for used vehicles loans.
Droom thus becomes a one-stop destination for conducting transactions on pre-used automobiles via the digital mode, ensuring greater transparency and authority to the consumer.
Furthermore, Droom has presence in more than 500 cities in India and has over 192,000 auto dealers onboard which gives Droom a clear edge over competition in its domain.
How well is this market growing?
The used car automobile transactional sector is growing at a rapid pace. So much so, that for every new vehicle transacted in the market, 1.7 old vehicles are also being sold. Furthermore, the arrival of online marketplaces has ensured transparency in the valuation process. With the salaried middle-class demography burgeoning in India, it can be safely said that the pre-owned automobile market will be in high demand in the future, contributing to the rapid growth of the sector.
What is the marketing strategy for Droom?
Droom has adopted an aggressive marketing approach this year. We have allocated a budget of Rs 225 crore towards marketing and advertising during the current financial year. We aim to launch specific commercials describing Droomâ€™s various offerings and adopt an omni-channel marketing strategy covering both ATL and BTL platforms. Through characters such as Bittuji, we want to reflect the impact of Droomâ€™s assortment of products and services on the quintessential user, who earlier found it difficult to find a vehicle that fits her/his needs and budget but with Droom, can finally manage to own their dream wheel at the best possible prices.
Additionally, Droom is focused on mentoring the youth and helping budding entrepreneurs. I have been committed to mentoring and guiding the youth to become successful entrepreneurs. Droom has partnered with â€˜MTV Dropoutâ€™ as the â€˜Title Sponsorâ€™. The show aims to provide a platform for dropouts to make their startup dreams a reality. I am one of the Masters in the show. MTV Dropout is a one of its kind show that documents the journey of the worldâ€™s first-ever startup formed on television
What are your marketing plans going ahead?
We have recently launched super successful TVCs that explain the use and importance of our ecosystem services tools such as Droom History, Droom Eco and Orange Book Value. We also plan to extensively expand our network across Tier-II and III cities in the country which are rapidly emerging as high revenue potential markets. Droom, with its scientific algorithms and unique approach to value determination of used cars, has created a position of influence in the market. Through these marketing efforts, we want to further create awareness for the Droom as a brand that provides the most unparalleled experience during purchase or selling of pre-owned vehicles.
Since the company is an online only platform, what according to you are the elements that differentiate you in the way you market yourself compared to some others who have a physical presence ?
Droom is an end-to-end transactional marketplace. No other offline or online portal provides such a comprehensive list of services, from pre-purchase information gathering to comparison and post-purchase maintenance.
Droomâ€™s ingenious and never-before-seen ecosystem service tools provide answers to most of the possible queries of buyers. These tools ensure total transparency and provide the most accurate valuations by employing large amount of relevant historical and empirical data.
Furthermore, our massive presence across 500+ cities ensures our presence as the largest hyperlocal market. Our dealer network spans across 192k auto dealers on board, making us the biggest auto dealer portal in India. Our rapid GMV expansion from 0 to 4k in less than three years also keeps us ahead of competition.
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