IIPM makes business education truly global: Word of mouth

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On another front of marketing, the company is confident that word of mouth would get a lot of potential customers hooked onto its service. Word of mouth, Netcore claims, has helped establish one of the other services they offer, MyToday.com, a site that provides daily ‘free’ alerts to people who have subscribed to it, on areas that might interest them. Netcore emphasises that it is not just another ‘alert’ service but a ‘channel’ feed. “If you say that you are running an SMS alert service, you are looked at very differently vis-à-vis when the moment you say that you are running a news channel or, say, a Sensex channel, as you start a getting a lot of hygiene factors of running a media channel on a mobile,” avers Netcore CEO Saxena. And how does Netcore earn on a free service? That’s quite simple; through advertising! But again, that’s easier said than done, as advertising rates need not be spectacularly high, or even average. But where Netcore is attempting to score is not just via advertising on the site, but through the concept of mobile marketing [read Proefssor Rajita Chauduri’s article in the issue, The Last Word], where, by utilising a captive customer base, many products and services can be promoted using the SMS platform.

The company believes that unlike other media like print, radio or television etc, mobile is a more personal medium, which remains with the person for a considerable amount of time. Furthermore, marketing using the SMS platform allows any company to contact the individual ‘individually’ and not through a mass promotion campaign.

According to Netcore, they already have more than 80 advertisers in their kitty within a year of operations; and about 30-40% of the advertisers with the company prefer to advertise on a regular basis. “A lot of awareness and response-driven SMSs are promoted through this way of advertising,” shares Rohit Kaul, Vice President, Ad-Sales, Netcore Solutions. The SMS alert system is not just a hit with the advertisers but also with a whopping 3.5 million subscribers who have already subscribed to the feeds from the house of Mytoday.com. The company claims that it is packaging out a mind numbing 1 crore SMS messages daily to its subscribers, where ‘News’ is the most popular channel feed amongst the Indian subscribers.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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