In an exclusive interaction with 4Ps B&M’s Pallavi Srivastava, Shivanandan Pare, COO, BigAdda discusses the true potential that social networking websites can offer...
Over the years social networking has grown beyond just meeting old friends or creating new ones. What role has BigAdda played in this?
BigAdda is just a year old organisation as we started off in last August only. But today we proudly boast of five million registered users of our website.
Could you explain BigAdda’s business model?
Our revenue model is simple as our major revenue source is
advertising. I can’t name specific advertisers, but youth related brands are advertising more on social networking sites. The major reason behind this is the emergence of social networking sites as a community of 18-24 years old. Even fashion brands are advertising on social networking sites these days.
How relevant do you think are social networking sites as a marketing research tool?
Groups on social networking sites like BigAdda can be used by companies as focus groups. This too can be exploited as a source of revenue as we are using this for Big Entertainment. We have used it for many Big Entertainment movies. For instance, it was extensively used for Rock On wherein we created a separate zone for Rock On on our site. We even ran a contest where the best video or the best personality selected on BigAdda will get a chance to act in the next Farhan Akhtar movie.
How is BigAdda different from other social networking sites?
The first thing that differentiates BigAdda from other social networking sites is ‘Indianness’. We are targeting the local youth. Secondly ‘Mobile Adda’ which we launched recently is a WAP based social networking site and that’s unique in itself.
What will be the major source of growth for social networking industry in the near future and what changes do you foresee?
The major growth driver that I foresee will be the ability to create more engaging platforms. Three-four years down the line, social networking sites will become the prime destination for anybody who logs on to the Net. As far as India is concerned, the vibrancy is going to increase on the social networking sites in the next three to four years. There will be more activity by users. Social networking sites will emerge as enablers of e-commerce and fashion exchange. The scope of social networking sites cannot be put in few words.
What are BigAdda’s investment plans for the coming years?
We believe that the business of social networks requires long-term commitment. So we are investing long-term in it. We are not relying on short-term investments. Moreover, our investment will run into millions.
Professional networking sites are also growing in popularity. What’s your take on this?
We are evaluating that. We are interested in it. Also social networking will emerge in verticals. We have seen the emergence of goods and movies related social networking. Three years down the line verticals will grow very strong. Between 1999 and 2004 the growth among portals was horizontal, post that the growth has shifted to verticals.
Do you think marketers, in future, will divert to internet advertising to cut down on costs?
That could definitely happen. Besides this I also think Internet is the most effective medium for brand building. It offers real-time interactivity with the users. Marketers can directly engage with their target audience. The perception of Internet by the marketers has changed over the years.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
Over the years social networking has grown beyond just meeting old friends or creating new ones. What role has BigAdda played in this?
BigAdda is just a year old organisation as we started off in last August only. But today we proudly boast of five million registered users of our website.
Could you explain BigAdda’s business model?
Our revenue model is simple as our major revenue source is
advertising. I can’t name specific advertisers, but youth related brands are advertising more on social networking sites. The major reason behind this is the emergence of social networking sites as a community of 18-24 years old. Even fashion brands are advertising on social networking sites these days.How relevant do you think are social networking sites as a marketing research tool?
Groups on social networking sites like BigAdda can be used by companies as focus groups. This too can be exploited as a source of revenue as we are using this for Big Entertainment. We have used it for many Big Entertainment movies. For instance, it was extensively used for Rock On wherein we created a separate zone for Rock On on our site. We even ran a contest where the best video or the best personality selected on BigAdda will get a chance to act in the next Farhan Akhtar movie.
How is BigAdda different from other social networking sites?
The first thing that differentiates BigAdda from other social networking sites is ‘Indianness’. We are targeting the local youth. Secondly ‘Mobile Adda’ which we launched recently is a WAP based social networking site and that’s unique in itself.
What will be the major source of growth for social networking industry in the near future and what changes do you foresee?
The major growth driver that I foresee will be the ability to create more engaging platforms. Three-four years down the line, social networking sites will become the prime destination for anybody who logs on to the Net. As far as India is concerned, the vibrancy is going to increase on the social networking sites in the next three to four years. There will be more activity by users. Social networking sites will emerge as enablers of e-commerce and fashion exchange. The scope of social networking sites cannot be put in few words.
What are BigAdda’s investment plans for the coming years?
We believe that the business of social networks requires long-term commitment. So we are investing long-term in it. We are not relying on short-term investments. Moreover, our investment will run into millions.
Professional networking sites are also growing in popularity. What’s your take on this?
We are evaluating that. We are interested in it. Also social networking will emerge in verticals. We have seen the emergence of goods and movies related social networking. Three years down the line verticals will grow very strong. Between 1999 and 2004 the growth among portals was horizontal, post that the growth has shifted to verticals.
Do you think marketers, in future, will divert to internet advertising to cut down on costs?
That could definitely happen. Besides this I also think Internet is the most effective medium for brand building. It offers real-time interactivity with the users. Marketers can directly engage with their target audience. The perception of Internet by the marketers has changed over the years.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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