Being a smart entrepreneur, you may already be aware of the immense potential lying in the rural market of India. Yes, times have changed, and it is not a subdued market where consumers will accept whatever is being thrown at them. No, rural market asserts its power today and forces rural marketing agencies in india to design and conceptualize branding and advertizing strategies dedicated to the rural population. Reports say that the ad spends and viewership show an increasing trend.
The sector has been showing a consistent growth of eight to ten percent in the past decade, and it is expected to accelerate further. According to marketing gurus, the growth percentage may touch 50% mark as digital media leaves behind its counterparts. As semi-urban and rural markets become important strategically, the rural marketing budget allocation needs to be increased.
Under-penetrated markets so far become prominent today
Statistics shows that the under-penetrated (and under-estimated) markets so far show a promising response today. Massive economic growth in the recent years, increased awareness, and changing mindset of consumers are three prominent reasons behind the surge. No wonder, advertisers are keen to spend money on advertising in rural india.
Having said it, cost pressure is still a pain point as far as rural advertizing is concerned. Only creative and innovative companies such as Vritti Imedia have been immensely successful by applying ideas that are ahead of times. Incredible use of Bus Stands and prominent religious events such as Kumbh Mela or Wari for the brand building are examples of outstanding rural marketing.
There are pitfalls on the way
Advertisers must understand that there are challenges and roadblocks in implementing better and cost-effective ideas of rural advertizing. However, it is their responsibility to find out ways and means of overcoming the same. Increase in the profit margin without affecting the last mile connectivity is the most prominent challenge. As Ecommerce extends the footprint in rural areas, it becomes furthermore challenging to remain competitive without damaging the bottom line.
Reports say that vernacular print media will book higher revenues because there will be more focus on rural advertising in india. The rise is expected as high as 15 percent per annum. According to media experts, Hindi as well as regional papers both will show the similar increase.
No wonder, entrepreneurs, and media experts derive effective strategies to tackle the rural market. When the business potential is high, it is worth spending big money.