SMEs log into local apps for hyperlocal connect
«We've observed heightened interest from local and regional businesses seeking impactful yet budget-conscious advertising,» Sunil Kumar Mohapatra, Chief Revenue Officer, VerSe Innovation, told ET.
«Over the past 2-3 years, our local and regional business sector has experienced significant growth. Year-on-year, we've witnessed a 2x-3x increase in clients and a similar growth in average order value from repeat clients.
Our clientele in this vertical surpasses 5000.»
VerSe Innovation, which runs DailyHunt and Josh, said it had a substantial volume of advertisers from the local and regional business segment. These companies typically spend between Rs 30,000 to Rs 50,000 per month on advertising, with some spending even more.
The company said it has established partnerships with several local brands like Chandigarh Ayurved Centre, Nimbus Academy, portable cabin manufacturer Sagar Cabin, among numerous others.
Also read | India's digital advertising revenue is on a rise
«Graphic Hearing Aids entrusted VerSe with their entire digital media mandate, to drive awareness and engagement at a localized level,» Mohapatra said.
«The campaign illuminated specific pin codes, sparking heightened regional awareness. This tactful approach yielded an upswing in customer inquiries.»
Industry watchers said the short form video boom that India has been witnessing is what is fuelling this growth.
