Modi’s “Aatma Nirbhar” Relief Package: A Call for
Promotion of Local Indian Brands
Modi’s “Aatma Nirbhar” Relief Package amidst Covid-19
crisis calls for a spike in the demand for advertising of Indian brands
Prime Minister Modi’s big announcement of Rs. 20 lakh
crore stimulus relief package, equivalent to 10% of India’s GDP; will help to deal
with the economic crisis due to Covid-19. He believes this booster shot will play an
important role in the ‘Aatma Nirbhar Bharat Abhiyan’, which would make India self-reliant and face
the post-Covid-19 repercussions. This move is a push for Indian local brands to
advertise and make their products visible at a national level, to begin with, and
eventually position themselves to face global competition.
Finance Minister Nirmala Sitharaman detailed out
Modi’s relief package and announced s Rs. 3 lakh crore collateral-free loans for businesses
and infuse capital of Rs 50,000 cr in the MSMEs in an effort to help them
expand. This will be a
step towards the Self-Reliant campaign and support Make in India.
“The roll-out of collateral-free loans will
inject much-needed liquidity in the unorganised retail sector, leading to
business expansion & local brand promotion through digital or TV
Advertising,” says LD Sharma, Managing Director, Mayhigh Films
“It’s an
opportune time for thousands of local brands to showcase their products and
services and urge their countrymen to buy locally. As a result, it calls for an
immediate need for advertising and branding to attract the attention of local buyers,”
he adds.
Finance Minister Sitaraman also points out that Indian
brands have faced tough competition from their foreign counterparts. To tackle this,
she announced global tenders in government procurement up to Rs. 200 crores
will be disallowed. An excellent opportunity to encourage local brands so they
can reinvent themselves at par with the global standards. This will also lead
to a reduction in imports of goods and services from foreign lands, thereby, stimulating
the use of homegrown brands.
In view of the above, advertising and branding will
play a crucial role in bridging the gap between the seller and the buyer.
Sharma with 17 years of experience in the Media industry says” the need for branding
should be at its peak especially for the SMEs who have ignored the power of
advertising due to lack of awareness. It is time they reach out to their
audience on a large scale, owing to the fact that there will be lesser
disruption from global brands.”
He goes on to
explain that in these times when instant brand visibility is the need of the
hour, Television is arguably the biggest ad vehicle mainly attributed to its
unscalable reach and undivided viewer attention that makes for incredibly
effective marketing. “Struggling MSMEs that
consider TV advertising expensive can run non-FCT on regional news channels and
can get a good ROI. News channels these days are on boom & with limited
budget they provide the option of B2B & B2C marketing .To tap the national
market, they can opt for the top 10 news channels and get effective returns. A
non-FCT campaign does not require a TVC which takes up most of the advertising
budget.” says Sharma
With the proliferation of digital media, Customers spend a lot of time
online, so marketing efforts must be directed to draw them on these platforms.
Digital branding has the power of effective marketing, helps businesses’ increase
their reach, and leads to a constant generation of leads. A few strategies that
can be adopted
·
Corporate films. 2-5 minute videos
that serve the same purpose as a website does only in a video format. Highly
recommended for upcoming businesses to showcase their offerings to the world with
an interesting narrative, audio, and video format. They are easily shareable on
social media, are much more interactive and easier to remember.
·
YouTube promotional videos. Short
product demo videos (2-3 minutes) offer consumers a visual insight into the
usage and functioning of the product, helping new and existing users to better
understand its features, its value, and its potential
·
Paid social media ads on Facebook,
Instagram, Twitter, Linkedin
· Host and
sponsor virtual events/webinars
·
Publish native content articles on digital
news portals regularly
All these efforts will lay the foundation for a
confident India which can rest on its strengths and also contribute to the
globe. It the best time for Indian products to establish themselves as brands
by advertising and turn this short-term crisis to a long-term financial
opportunity.
https://www.news18.com/news/press-release/pm-modis-aatma-nirbhar-relief-package-a-call-for-promotion-of-local-indian-brands-2620083.html
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