India’s Best of the Best 2016
India Symposium 2016 set one thing straight: Embracing a digital mindset has never been more necessary than it is today. It also made another point loud and clear: Digital has raised expectations and presented complexities that brands have never experienced before.
Make no mistake, this is the era of the connected consumer. Not only are people consuming more content across more devices than ever before, they’re consuming it all at once! ‘Experience’ is the buzzword of the day and it’s got brands working harder than ever before to deliver seamless customer engagement – anywhere and everywhere. But it doesn’t end there; people are complicated and the fast changing digital landscape isn’t easy to navigate, let alone stay on top of. How do you stay on top of changes you can’t predict?
At Symposium 2016, the biggest marketing technology event in India, the team at Adobe Digital Index (ADI) took a look into the nation’s digital future, and released the Best of the Best 2016 report for India. Led by Tamara Gaffney, Principal Analyst, Adobe Digital Index, the report showcases some of the latest digital trends in the Indian marketplace, along with a range of insights to help brands better understand where the next wave of digital transformation could be.
Best of the Best’s 2016 findings for India
Best of the Best 2016 India revealed the increasing gap between countries, industries and companies who’ve strategically embraced digital experience, and those who lag behind. According to ADI, companies with a digital mindset are reaping the rewards of their transformation.
“A leading digital mindset goes way beyond having a nice website, or a new mobile app. The leaders in this space have put digital experience at the centre of how they engage with customers. Their advanced digital strategies are helping them offer a rich, compelling and consistent customer experience, so they are staying ahead of the curve and driving better business results,” said Tamara Gaffney. The ADI report concluded that brands investing in methods to attract and retain consumers are breaking away from the pack by delivering consistently relevant and engaging customer experiences.
Other key findings:
- The volume of smartphone traffic is growing across all industry sectors in India; with fastest growth in Banking and Finance at 101.9% year on year, followed by the Technology sector at 90.8% and Media and Entertainment at just under 70%.
- The gaps in smartphone traffic are widening dramatically between the best industry performers in each segment, indicating that leaders in each segment are pulling away to capture higher share of traffic than their competitors. In this respect, the best performers in Media and Entertainment had the greatest gap between the best and the rest at 28.1%, followed by Retail at 35.6%. Banking and Finance recorded a much smaller gap of just 6.4% between the best industry performers and the rest; suggesting there’s still room for innovative players in the sector to pull ahead of the competitive pack in the year ahead.
- Mobile optimization is playing a big role in helping consumers complete their digital needs more efficiently, reducing their overall time online. The pressure on brands to get it right the first time has never been higher.
Up, up and away: Mobile’s growth story
Given India’s unique ‘mobile first’ story, Adobe Best of the Best India also focused on navigating this mobile economy.
As mobile and app usage have exploded, organizations are increasingly investing the time and resources to define mobile strategies that enable them to transform their businesses to leverage the power of mobile.
Globally, leading companies are allocating up to 20% of their marketing budgets to mobile. However, creating brand differentiation through mobile apps and experiences is challenging and today’s consumers are unforgiving. One in four apps once downloaded are never used again. Companies and users demand immediate benefit from the mobile experience and if app developers can’t innovate or deploy quickly enough, users simply delete the apps or stop using them.
For more on the future of mobile and marketing, read Tamara Gaffney’s Future-telling: 7 predictions for Digital Marketers.