Facebook India to Help The Smartphone Brands to Connect Better With the Consumers: With the mobile and Internet penetration on the rise in India, Facebook India is set to prepare companies beginning with the smartphone industry hit the right chord with consumers and eliminate the massive revenue loss owing to friction, a top company executive stressed here on Wednesday.
Facebook India to Help The Smartphone Brands to Connect Better With the Consumers
The social media giant said it would help smartphone manufacturers reduce the consumer drop-off from their purchase journey referred to as friction, thereby creating $3.1 billion worth of potential revenue for smartphone brands by the year 2022.
Facebook will work as a catalyst concerning making companies aware that there is this tremendous opportunity and will building solutions for them to achieve that.
Teams from Facebook will help companies, and manufacturers design targeted approach depending on what products they have, Sandeep Bhushan, Director, Facebook India and South Asia, tells IANS.
India is currently second largest smartphone market globally and is expecting to hit 1.4 billion unique mobile subscribers by the year 2022.
We are also working with our partners to bring in more capabilities. Consumers are ready, waiting to purchase more via smartphones.
The onus is in companies to understand this quickly and eliminate consumer dropouts on their path to purchase,” Bhushan added.
To help the marketers understand why consumers abandon purchase journeys, Facebook announced a Zero Friction Future programme with several industry research reports put together by the global research firm KPMG. The story is in primary research and insights to survey is conducting by Nielsen.
Overall friction accounts for the 66 percent of consumer dropouts, while 34 percent of consumer dropouts are attributing to media friction, leading to a loss of nearly $22 billion in revenues, the study says.
With the launch of ‘Zero Friction Future’ programme, we want to help businesses to adopt relevant mobile marketing strategies to offer seamless purchase experiences, to help them win consumers and increasing sales, says Bhushan.
The report is titled Eliminating Friction in Smartphone Path to Purchase, highlighting that friction accounts for approximately two-thirds of consumer dropouts while buying smartphones and media friction contributes to nearly one-third of the dropout.
Currently, mobile influences 58 percent of smartphone purchase decisions, which is amounting to $8.5 billion worth of sales and it is expecting to grow 1.8 times to reach 73 percent and influences $15.6 billion quality of the sales by 2022.
Facebook influences 33 percent of purchase decisions which is amounting to $4.8 billion worth of sales, and it is expected to grow two times to reach 44 percent and change $9.5 billion worth of sales by 2022.
“When it comes to the 300 million-plus Indian smartphone market, we are right there for both Android or iOS devices.
For low-end phones, we are there with Facebook Lite. Reliance Jio has KaiOS operating system, and we are integrated for that too.
“We are building solutions for over 2.2 billion Facebook users globally, 1.5 billion users on WhatsApp and 270 million Indian users on Facebook.
Whether the consumer is young or old, our platform is there to help them make right purchase decisions,” Bhushan told IANS.
The Facebook-KPMG study also noted that mobile influence would continue to dominate the smartphone purchase journeys as 7 in 10 smartphone purchases will be mobile-influenced by 2022.
So, these are the points to describes on the Facebook India to help the smartphone brands to connect better with the consumers.
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