The advertising growth is likely to be soft for India's digital publishing industry. As the overall adex takes a hit due to ongoing economic slump, online business news platform Moneycontrol.com is also bracing for a harsh 2020 in terms of the revenue growth.
The Network18 group's news platform has shelved its brand revamp plan because of the ongoing slowdown in the economy that has forced it to cut its marketing expenditure.
The platform that's among the top three business news portals in the country will now be focusing on regional and programmatic advertising to tap into a fresh audience base.
"The core objective of the platform is to foster innovation and create interesting and highly interactive products and services to its audiences. Thus, its marketing strategy for 2020 will be focused and tactical in order to promote its products," said Gautam Shelar, Business Head of Moneycontrol, in an interaction with BestMediaInfo.com.
"Due to the current economic scenario, the marketing budget for 2020 will be conservative. The platform will be focusing more on digital advertising, followed by television. The major spends will be on business channels which cater to similar TG. However, the budget will also depend on this year’s revenue and the traffic generated on the website and app," he added.
Even as the platform has shelved the brand revamp for the New Year, it will continue to focus on new user acquisition on Moneycontrol Pro and brand campaigns.
"We will focus on regional and programmatic advertising to widen our audience base and generate user traffic on our platforms. From regional advertising to digital and TV ads, we will be able to make the right use of the right platforms to tap the relevant audiences. The advertising growth is expected to remain mild in 2020,” he added.
Shelar shared that social-media has constantly aided the platform in understanding its audience better, thus enhancing the services and offerings via customized and engaging approach. The platform understands the need for evaluating social media conversations with audiences. Based on the same understanding, it had introduced Podcast for hassle-free news and Moneybhai for an absolute risk-free virtual stock market experience.