Facebook India to help smartphone brands connect better with consumers

Facebook India to help smartphone brands...

With 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.

The social media giant said it will 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 2022.

"Facebook will work as a catalyst in terms of making companies aware that there is this huge opportunity and will build 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, told IANS.

India is currently the second largest smartphone market globally and is expected to hit 1.4 billion unique mobile subscribers by 2022.

"We will also work with our partners to bring in more capabilities. Consumers are ready, waiting to purchase more via smartphones. The onus is now on companies to understand this quickly and eliminate consumer dropouts on their path to purchase," Bhushan added.

To help marketeers 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 report is based on primary research and insights survey conducted by Nielsen.

Overall friction accounts for 66 per cent of consumer dropouts, while 34 per cent of consumer dropouts are attributed to media friction, leading to a loss of nearly $22 billion in revenues, the study said.

"With the launch of 'Zero Friction Future' programme, we want to help businesses adopt relevant mobile marketing strategies to offer seamless purchase experiences, to help them win consumers and increasing sales," said Bhushan.

The report, titled 'Eliminating Friction in Smartphone Path to Purchase', highlighted that friction accounts for approximately two-thirds of consumer dropouts while buying smartphones and media friction contributes to approximately one third of the dropouts.

Currently, mobile influences 58 per cent of smartphone purchase decisions, amounting to $8.5 billion worth of sales and it is expected to grow 1.8 times to reach 73 per cent and influence $15.6 billion worth of sales by 2022.

Facebook influences 33 per cent of purchase decisions amounting to $4.8 billion worth of sales and it is expected to grow two times to reach 44 per cent and influence $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 217 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 will continue to dominate the smartphone purchase journeys as 7 in 10 smartphone purchases will be mobile influenced by 2022.

According to the findings, women seek more explicit communication, while men demand more relevant information.

"People age 35 and beyond are more likely to abandon purchase, as sensitivity to friction increases with age," the report noted.

 


PostedOn: 16 May 2018 Total Views: 219




Google, Facebook and others are blocking...

Google, Facebook and others are blocking keywords ...

Search engine Google, Microsoft, Facebook and Yahoo have begun blocking keyword pertaining to child pornography and violence against minors on their respective platforms in India. These companies are taking this step to prevent the spread of such kind of videos on social media. As per reports, the d...

23 Dec 2018

Huawei launches Mate 20 Pro with triple ...

Huawei launches Mate 20 Pro with triple rear camer...

The smartphone packs a 4,200mAh battery, with SuperCharge support. Huawei has brought to the Indian market its latest high-end smartphone, Huawei Mate Pro 20, priced in the Rs 70,000 range with a 6.39inch QHD+ display that has a screen resolution of 1440x3120pixels and an aspect ratio of 19.5:9. It ...

28 Nov 2018

WhatsApp chief business officer Neeraj A...

WhatsApp chief business officer Neeraj Arora quits

WhatsApp Neeraj Arora quits WhatsApp’s chief business officer Neeraj Arora on Tuesday resigned the company. He announced the news on his Twitter and Facebook handle. In a post at social media sites including Twitter and Facebook, he said, “Time flies for sure but not memories. It is hard...

28 Nov 2018

Google's New Search Feature Gives Single...

Google's New Search Feature Gives Single Result to...

Google is rolling out a new feature to the Search app on mobile web, Android and iOS that would not show multiple links to a query if it could be answered by a direct result for faster search experience. “For queries where we have extremely high confidence that a user is seeking a calculation,...

27 Nov 2018

Google Family Link App in India: Here’s ...

Google Family Link App in India: Here’s how parent...

Tech giant Google recently launched the Family Link App in India. The app is designed to help parents remotely control and keep track of their children’s Android device activities and help them set digital ground rules by managing what their kids are up to and what are the other Google account...

27 Nov 2018

Honor 8X review: Premium looks, good bat...

Honor 8X review: Premium looks, good battery, but ...

Huawei's sub-brand Honor has been following an aggressive strategy for the price-conscious Indian market, offering good specifications and internals at a relatively affordable price. Its latest offering, the Honor 8X, comes in three variants -- 4GB+64GB, 6GB+64GB and 6GB+128GB -- priced Rs 14,999, R...

26 Nov 2018

NASA’s InSight spacecraft all set to lan...

NASA’s InSight spacecraft all set to land on Mars

NASA’s Mars Interior Exploration using Seismic Investigations, Geodesy and Heat Transport (InSight) spacecraft is all set to land on Mars on November 26. The InSight spacecraft is a first outer space robotic explorer that will study the crust, mantle, and core of the fourth planet in our solar...

26 Nov 2018

WhatsApp appoints Abhijit Bose as countr...

WhatsApp appoints Abhijit Bose as country head

Facebook-owned company WhatsApp has finally declared Abhijit Bose as the head of WhatsApp India. The company has earlier announced that it is hiring country head. As per reports, Abhijit Bose will work to establish the messaging service WhatsApp in India, likely to begin its operations next year. It...

21 Nov 2018