India Presents a Vast Canvas of Opportunity for Experience Businesses
Brands globally looking to become experience businesses have a keen eye on India.
With 65% of the population aged 35 or under, 1.13 billion mobile subscribers nationally and a GDP growth forecast of 6.75% to 7.5% in 2017–18, India is not only well-placed to retain its mantle as the world’s fastest growing major economy, but perfectly positioned to continue leading the way in digital adoption trends.
Adobe this week released the Adobe Digital Index Advertising Research Survey, casting a spotlight on the opportunities and challenges in navigating India’s rapidly evolving digital ecosystem. One of the most significant and reassuring findings of the survey is that as digital marketers prepare to strengthen their customer offerings, they do so with the benefit of considerable goodwill and trust from consumers.
According to Adobe’s survey, 75% of surveyed consumers in India prefer to see personalised advertisements and 72% believe social media platforms are improving in delivering relevant content and ads. The research found that the majority of consumers in India consider online ads as more relevant, interesting and useful than television, radio and print advertisements. India’s mobile-powered, online-embracing consumers – especially Millennials – are already well disposed to evaluating brands on the basis of the digital experience they offer.
The findings of the India-specific snapshot reinforce just how important it now is for brands to realise the role personalised digital advertisements play in delivering exceptional customer experiences.
Compared to other Asia Pacific markets, such as Australia and South Korea, the majority of Indian consumers believe marketers are usually respectful of their digital privacy. So much so that 63% of Indian consumers are comfortable with the brands they favour using their personal data to customise content, emails and advertising. While this advantage provides opportunity it also comes with caution — that trust is a precious asset that must be respected and nurtured when devising strategies for enhancing digital customer relationships.
The significance of India’s unique market position in rapidly evolving digital consumer trends was not lost on the 1,200 industry leaders and digital marketing experts who attended the Adobe Symposium 2017 in Mumbai on May 4.
To hear leading brands and industry experts share their thoughts on the experience business imperative, watch the Adobe Symposium 2017 sessions on demand (coming soon).