It plans to spend 70-80% of its advertising dollars on performance marketing and 20-30% on traditional medium in CY2021
The company, which is currently present in 100 cities with over 15 million registered customers across the country plans to expand its presence into the smaller markets
Advertisers are looking to spend only on those areas which gives them a bang for their buck. Online bike taxi aggregator Rapido too has adopted a similar plan, as per which it plans to spend 70-80% of its advertising dollars on performance marketing and 20-30% on traditional medium in CY2021, Amit Verma, head of marketing, Rapido, told BrandWagon Online. However, post the situation normalises, the company plans to spend equally on performance and brand marketing. The company on Wednesday launched its first TVC #LoveTheChase to create awareness about the benefits of riding a bike taxi. “With commuters looking for a safe and affordable option to commute to work and around the city, we thought it would be a good time to communicate as things have begun to reopen. The 360-degree campaign aims to increase brand awareness as people are avoiding crowded public transportation. While Rapido as a brand is built on the three pillars of affordability, accessibility, and availability, the new TVC focuses on all these three angles to put our message across,” Verma added.
The campaign will initially be launched over 12 channels in Andhra Pradesh and Telangana across different genres such as general entertainment channels (GEC), entertainment, news, lifestyle among others. Apart from TV, the campaign will be aired across its digital channels. “Based on the traction, we will expand our campaign across different markets,” Verma said. The company claims that while TV, print, OOH and radio will account for 50%, digital will account for another 50% of the overall ad spends going forward.
As per Verma, the company has been able to recover 60-70% of its business for its bike-taxi segment. “Though the demand for personal vehicles has increased, there is a whole new set of audiences who were earlier commuting through public transport such as bus, metro or shared autos — who have now moved to bike taxis, considering the social distancing norms, affordability factor as well as ease of first to last-mile connectivity,” he explained. The company’s core target audience lies between the age group of 18-28 years driven primarily by the affordability factor.
The company, which is currently present in 100 cities with over 15 million registered customers across the country plans to expand its presence into the smaller markets as currently, 60% of its business comes from tier 2 and tier 3 cities. Verma claims that the next phase of expansion will be undertaken in Maharashtra.