Facebook hopes to become a more relevant platform in India
Facebook is working on relevance to advertisers in a bid to acquire a larger share of the fast-growing digital advertising market in India. The company had 166 million users per month for Q3 in India, the second largest audience after the US, and foresees India becoming the largest user market worldwide in the near future. Umang Bedi, managing director, Facebook India & South Asia, said that traditional businesses such as real estate and car manufacturing were increasingly using the platform, with brands such as Veet, Ford and Tata Housing showing sales uplift between 20-30% when ads were being displayed.

NEW DELHI: Facebook India is helping brands translate campaigns and ads on its platforms to business as it seeks to become a more relevant platform for advertisers. This could also translate to larger piece of the fast growing digital advertising pie in India.Facebook also sees the current demonetisation helping curb black economy and drive the digital economy in India.Facebook, which reported 166 million users per month on its platform for Q3, the second largest after the US, also sees India becoming the largest user market globally sometime in the near future.Umang Bedi, managing director, Facebook India & South Asia said in an interaction with ET, “Indian digital macro economic growth is driving user adoption. Someday India is bound to be the largest user market, but I don’t know when.”Bedi, 38, joined Facebook from software maker Adobe Systems in July this year and in the past 100 days has taken 75 flights, meeting customers across India Inc “Apart from internet businesses we are seeing traditional businesses like real estate and auto companies increasingly use the platform. And we have been able to drive sales for them,” said Bedi sharing that Tata Housing sold 250 homes and Ford sold 186 cars by advertising on the platform.“Brands like Veet, Durex, Mondelez, Ford, Samsung , Tata Housing showed sales uplift between 20-30% during the time the ad was shown and people went and brought the product.”These purchases were made via links online after seeing the ads.“We are one third the cost of TV and half the cost of any competing video platform,” said Bedi stressing that the platform is cost effective medium for brands. According to digital marketing research firm eMarketer, total ad market in India will be $9.5 billion by 2019.Digital advertising, $1.6 billion at present, will be $3.4 billion to $3.6 billion by 2019, with a market share of 40% as opposed to the current 14%.This is the market that Facebook hopes to tap. Elaborating the benefits of demonetisation, Bedi said, “I will stay away from commenting on its implementation. I have my reservations.”But, “In the long run if we are able to curb the black economy we would see a rise of digital payments, very high levels of transparency, transparent governance. And digital payments will help grow the digital economy as a whole.”On Facebook Marketplaces, the social media giant’s platform that enables users to transact with a friend, Bedi said: “When we launched marketplaces we said we are trying it out in a few countries and we will evaluate other markets.”It is currently operational in US, UK, Australia and New Zealand. However, he declined to comment on its launch in India. “It’s early days,” he said.