Future Trends Sanitization The overall sanitization practice across the supply chain will prove to be of key importance. Online Purchase Just like BMW an online purchase process by giving a virtual tour of the car can help buyer decisions. Pre owned Vehicles Extra sanitization will be required for pre owned vehicles with added protection and home visits for interested parties. Additional Benefits Any additional benefits like complementary servicing, discounts, waivers will be a benefit and in turn lead to a better chance at sales. Customer Service Going the extra mile for customer service will be key by providing perks, referrals, after sales service in order to seal the deal. Used Car Dealers Offering unique, safe and hygienic solutions will be the need of the hour for used car dealers to even consider getting a sale in these tough times.View this post on Instagram
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What’s covered in this Deep Dive Current StatusChallenges & OpportunitiesFuture Trends We have tried to take a holistic view of the industry’s approach to digital marketing & based our analysis on that. COVID-19 Turmoil The COVID-19 pandemic has disrupted our lives in ways we had never imagined. Our everyday interaction with the outside world, with public spaces, the retail environment, and even with one another, has come under intense scrutiny.The amount of losses incurred due to this lockdown has been immense. Coronavirus – Timing There has been a systematic downfall in the overall economy of India as a whole in FY 2019-20.Just when the Indian market and the automotive industry were looking to uplift themselves came the novel coronavirus.While the GDP growth forecasts were north of 5.5%, COVID-19 may result in a negative impact of 1-2% on the expected growth rates. Economic Slowdown Due to this pandemic people’s livelihoods are at stake.There have been job losses, salary cuts, business slowdown due to which the overall disposable income has gone way down. While the GDP growth forecasts were upwards of 5.5%, COVID-19 may result in a negative impact of at least 1-2% on the expected growth rates. Methodic Change Immediate and prompt action will be required by the industry as a whole to battle this situation.Constant monitoring of staff well being at manufacturing plants and other facilities.Business leaders will require a proper plan and strategy for the future and maintain key aspects like insurance, liabilities, supply chain etc. State of Marketing Challenges Disposable IncomeCovid scareOverall Hygiene Opportunities Moving OnlineStrict SanitizationVirtual Options Ford: Offers credit support to customers impacted by COVID-19 Toyota & Hyundai: Offers buyer protection to car buyers who may lose jobs/ cannot pay in the next 6 months Contactless BMW Experience BMW has done a great job by making the purchase process of cars completely online. Click below to know more.
In today’s competitive world, there’s one thing that each one of us seeks, Growth! FYA has always looked at growth from a very “NOW” perspective. Living in the digital world, we soon noticed that technology is changing too fast and so is our growing dependency on it. The trends come in and fade away at a pace so quick that publishers, businesses and agencies are all failing to keep up with it. Always looking at growth from a single aspect, we came to realize the importance of an in-house website department as the mobile revolution took place in 2012. It was easy to figure that with the revolution, most brands and businesses would want to have their websites revamped that can be accessed through their phones which were available in the market in various screen sizes. Achieving much growth with the newly formed website department that functioned organically, the scenario changed and then came the trend of paid advertisements. With constant changes and to survive the upcoming trends of E-commerce websites, News and Media websites, mobile applications, etc we created a team of developers. There was a huge amount of time that was utilized just for collecting data for the past 2 years and we realized the massive disconnect between our offline and online audience. We predicted that the analytic aspect of the business is going to be huge and we decided to make plans of expanding the development team on a very serious level to serve businesses looking out for a digital transformation. We came across the business who don’t just need social media strategies but they wish to get into it all whether it’s building software, back-end, the analytics, reach or influencers. Understanding their needs and the demand for a system that can help them look after HR, Inventory, Accounts, Marketing, POS, CRM and Lead Management systems, etc, we created one called PULSE. To attract more agencies and businesses, we agreed on charging a one-time fee with the liberty of choosing the module of their choice and paying for only that particular one. We strived to get past the barriers that existed due to the age-old systems where the analysis was difficult to get, their inaccessibility on the phones, etc. We intend to grow our software and make it a system that can seamlessly help businesses to carry out their functions. Another thing we wish to focus on this year is to create a very strong content team. When it comes to content, we are trying to create a team that can provide the best user experience as customers instead of an agency. We are looking at creating content that feels real, live and is first-hand so as to interest the audience! These are the growth plans we see for ourselves in the coming months of 2017!