Droom to Increase Its Marketing Spend to Rs. 225 Cr in Next 12 Months
By introducing OBV (for used vehicle pricing, Eco (for auto inspection), Droom History (for used vehicle auto reports), and Droom Credit (instant auto loan for used vehicles), Droom has established itself as an end-to-end services provider and a leader of the automobile services ecosystem in India.
Droom, India’s online automobile transactional platform, has come out all guns blazing in its latest announcement of initiating a massive Rs 225 crore marketing budget. Beginning with three TVCs to be aired in coming days, Droom plans to carry out extensive marketing efforts throughout the country that firmly re-enforces its position as the leading online automobile transactional marketplace facilitating buyers and sellers to avail the best value-for-worth offers and propositions when it comes to anything on wheels.
The large budget of Rs 225 crore, out of which Rs 100 crore has been assigned to the TVCs, was allocated to carry out all-encompassing efforts spreading awareness in the entire country regarding the numerous benefits of online automobile transactions and Droom’s central role in the same. By introducing OBV (for used vehicle pricing, Eco (for auto inspection), Droom History (for used vehicle auto reports), and Droom Credit (instant auto loan for used vehicles), Droom has established itself as an end-to-end services provider and a leader of the automobile services ecosystem in India. From building trust to transparency to algorithm based pricing estimates to world-class auto inspection, Droom provides user with varied tools to ensure the buying/selling experience of automobiles becomes a breeze.
In last 30 months, Droom, has emerged as the largest auto portal, largest vertical Ecommerce company, the largest hyperlocal marketplace, and the 3rd or 4th largest e-commerce company independent of any category and an increase of marketing spend from Rs 100 crore last year to 225 crores in next 13 months corresponds to the rapid growth it recorded this year. Deol has established its presence in 510 cities and 1,50,000 auto dealers.
Commenting on the landmark budget, Sandeep Aggarwal, Founder and CEO Droom said, “We haven’t spent majority of amount we raised in June 2016 in our last round so essentially we increased our marketing budget to Rs 225 crore as we wanted to further fuel the adoption of not only the Droom the marketplace platform but also our ecosystem services tools such as OBV and Eco etc. and take them to mass market. At Droom we have built the entire ecosystem for used automobile buying and selling ground up and with performance based marketing program and data driven approach, we want to now make Droom a household name in India. We run the most efficient marketing programs for any Ecommerce company in India and we plan to achieve very high ROI on this spend."
Having realized Droom’s fast growing popularity, Droom felt a strong and comprehensive marketing campaign. Apart from the three TVCs, the campaign will also feature extensive print, BTL, OOH, digital and online video campaigns to offer a 360-degree experience and achieve nationwide brand recognition. Out of this budget Droom is also allocating Rs. 25 crores in CSR related campaigns on road safety, pollution, driving rules and used vehicle buyer’s rights.