Predicting Consumer Trends in the Indian Smartphone Market

Square

In terms of size, India’s smartphone market is second only to China. Now imagine the data that is used by these smartphones every day. According to Statista, Indians used about 9,762 petabytes (1 petabyte = 1 million GB)  of data in December 2020 alone. That’s ginormous, and smartphone manufacturers know this well as they gear up to face the challenges of dealing with this data. With 5G-powered mobile devices slated to enter the market, the high connectivity speeds will drive up data consumption even further. 

Decoding data was the focal point of the ET BrandEquity discussion on `Decoding the Indian Smartphone User’, where a diverse panel of experts shared their views on the latest trends in the smartphone market and how brands can effectively target customers. The panelists comprised Shivam Ranjan, Head of Marketing, Motorola India, Nipun Marya, Director, Brand Strategy, Vivo India, Hikojiro Isozaki, Partner, Nomura Research Institute, and Kunal Sarkar, Vice President, PredictiVu.

How are smartphone companies making hardware and software interventions that support increased data consumption? Hardware issues have been addressed by providing better screen displays and faster processing for better gaming. Privacy features were enhanced on the software side of the phone. 

Fast charging and cameras have also emerged as important smartphone components. Today’s consumers know exactly what they want from a mobile phone – and they want smartphones that come packed with features and a high storage capacity. With the proliferation of OTT, educational platforms, and gaming, high-performance phones have become imperative. 

As smartphone manufacturers grapple to build phones that are tailor made for their user’s needs, data helps them understand exactly what the consumer wants. Once that is covered, it’s just Marketing 101. Every consumer segment has its unique requirements and brands must decide who they want to target. Once audience segmentation is done, targeting and positioning are easily achieved. 

Indian consumers can be divided into two broad groups, based on their mobile phone purchase. The first is the value-conscious consumer, who looks for the value that they derive from a phone. The second is the brand-conscious consumer, who invests in brands with higher visibility. Also, about 84% of modern smartphone users also look for special brand experiences while picking that perfect mobile phone. 

To keep a firm pulse on consumer behavior, marketers must have access to data that is accurate as well as real-time. And most importantly, analytics must be customized to this data as well.

It is common for marketers to find that consumer data is often highly siloed and difficult to access, making it difficult for them to arrive at accurate data-based decisions. In order to glean rewarding insights, they need to bring all the different datasets together. A single source of clean data will help brands understand consumers and their needs at a micro-level. Also, since the smartphone market is vast and heterogeneous, marketing campaigns must be tweaked regularly to make them effective. 

In order to get their marketing campaigns on target, brands need access to both real-time data as well as actionable insights based on that data. Armed with these twin weapons, marketers get an instant edge in a crowded smartphone marketplace. PredictiVu provides this double advantage to brands. Using a tailormade dashboard and its Analytics-as-a-Service solution, the solutions provider doesn’t just collect and put data together, but also makes insights actionable, so marketers know exactly how to tweak their campaigns, messages, and supply chains.  

The number of consumers in the smartphone market is growing at a rapid rate, and there is a lot of data available to marketers to make actionable decisions. The need of the hour is for brands to use this data constructively in order to meet customer requirements effectively. This can happen when the data can be turned actionable.     

You can catch the complete episode on this link – https://youtu.be/7y8A0KpxS84

Leave a Reply