The telecom company spent Rs 284 crore on advertising and business promotion, according to its 2022-23 annual report.
Exchange4media staff
issued – June 29, 2023 8:39 AM
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Indian mobile network operator Vodafone Idea (Vi) reduced advertising, business promotion and content costs by Rs. Rs.94.1 billion for the financial year ended 31 March. In its 2022-23 annual report, the company said the cut was largely due to lower advertising and business promotion spending.
The company reduced its advertising and business promotion expenditure for the financial year 2022-23, ending March 31, 2023, by 20.22% to Rs.284 million from Rs.356 million for the previous financial year. Meanwhile, the company’s content cost increased by 5.47% to Rs.657.2 million in FY2023 compared to Rs.623.1 million in FY2022.
In its annual report, Vi said the company remains focused on strengthening its position in the fast-growing new areas of business services, especially IoT and cloud services. The company has launched several digital he initiatives to enable individuals and businesses to obtain various benefits and added value to meet the changing requirements of today’s digital society.
This year, the company also launched exciting offerings in a variety of categories through digital services in music, video, games, education and work platforms available on the Vi app as part of its integrated access to customers. All of these incremental digital initiatives will improve revenue and profitability, and in the long term will strengthen the overall competitiveness and profitability of the enterprise.
Regarding its marketing efforts, the company said: “To build a competitive advantage by leveraging our open signal certification of being the fastest 4G in the country, we launched the #BestIsGettingBetter campaign. Our network is perfect for helping our customers rise and prosper, but our network engineers have done their best to reaffirm the superiority of our network. effort story, and the campaign was heavily promoted on television and digitally. “
Vi also made a unique integration with Kaun Banega Crorepati. “KBC Golden Week with Vi” gave Vi consumers the opportunity to sit in the hot seat of their dreams. Amitabh Bachchan is now able to make video calls to friends through Vi.
Aiming to increase customer engagement and usher in a new digital ecosystem, the company has transformed its Vi app into a super app with a repertoire of movies, shows, live TV, music, games, infotainment, work and education. to customers. Recharge, pay, manage your Vi account, plus services and more.
He also noted that Vi commissioned an AI/ML-driven advertising technology platform to drive data and media monetization. Launched under the “Ads” brand, the service offers advertisers unique audience segments, interest groups, targeting parameters, and advertising opportunities across all channels owned by telecom companies and third-party digital inventory in a single location. platform, thereby simplifying media buying especially for small businesses.
Vi Business Ready for Next MSME campaign won at e4M Indian Marketing Awards 2023.
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