Further to my previous post on TradeIndia’s Chinese section, here comes more updates from the B2B space, IndiaMART have allotted a budget of around Rs. 25-30 crore for advertising and marketing activities and have appointed Quasar Media as its digital agency for digital marketing campaigns, media planning and media buying. IndiaMART is funded by Intel capital and after 13 years it has finally decided to leverage marketing and advertising channels in a big way.
As per Mr. Dinesh Agarwal, CEO of IndiaMART 50% of the total advertisingbudget will be spends on digital marketing and rest of the budget will be used for advertsing in print media, radio and other online properties through its association with Times Private Treaties, Bennett, Coleman & Company (BCCL). IndiaMART is also planning to sponsor the various TV programmes on business channels.
IndiaMART is very active these days as they preparing themselves for global competition as Alibaba spreads its wings in the Indian market. Global database per se IndiaMART cannot compete with Alibaba as theyhave only 5 lakh buyers versus 42 million members of Alibaba. In one of his interview, Mr, Dinesh Agarwal said that Alibaba comes with large supplier base which can be its strength or may be harmful for IndiaMART’s market share.
B2B marketplace is of $15-20 billion market of transactions of a total $100 Billion online B2B business and the listings are ranging between Rs. 5000-15000 per year which is very less as compared to global B2B market Specially in China suppliers are very active. Though in India, many SMEs are not still unaware of online business and through advertising IndiaMART is trying to reachout to those players and increase their share from 60% and also increase the pie of B2B space.