Following stringent cost-cutting measures by business process outsourcing units and IT firms across the country, the business of call centre cab owners has dwindled by anywhere between 5 and 40 per cent.
The service is offered through SMS, call centres and the Internet. Industry experts said 8-10 million people use mobile search. Two million people use the Internet and the rest use SMSs and call centres. The operators' main source of revenue is premium SMS (what they charge for search query). Advertising from the local merchants getting listed in the search is a promising option.
Of the available media, it was the fastest growing segment in 2008. Its better return on investment and the comparative ease with which its efficacy can be measured will ensure that the trend continues, say analysts. Rising interest in social networking in 2008 has made brands think seriously about online advertising.
Insurance, telecom, infrastructure, FMCG and energy are unlikely to downsize; Elsewhere, only top performers are safe.
With the executive search business declining by 40-50 per cent, recruitment companies are on a serious cost-cutting drive
Firms like MphasiS believe in an inclusive workplace, providing equal opportunities to all.
Companies say it helps them save on consultant fees and reduces the recruitment life cycle. Companies pay consultants close to 20 per cent of the annual package of a person provided by them as their fee; incentives paid to the company's employees for bringing a candidate is comparatively paltry. Besides, companies believe the buddy system gets them the right person who is in sync with their culture, which becomes more significant in turbulent times.
The ongoing downturn has forced firms to cut back on advertising expenses. The banking, financial services and insurance segment (BFSI) has cut advertising budgets by nearly 40 per cent.
Recruitment-related HR executives are being moved to other HR functions like training and development and other day-to-day HR functions, or being taken on contract. If things worsen, there could also be layoffs. Companies like Wipro, Infosys, TCS and iGate, too, have a mix of contractual employees in their HR team.
Talks between production houses, cine workers union inconclusive, no fresh content for broadcasters.
Indian political parties could learn a few lessons from the digital media campaigning chapters of the US Presidential elections.
Most travel agents in India have refused to levy the transaction fees of Rs 350-10,000 on air passengers.
TRAI's recommendation to allow news and current affairs on private FM radio, which is awaiting the formal nod of the I&B Ministry by the year end, has not brought much cheer to radio players.
Media-buying and advertising agencies are a worried lot. The last quarter was bad for them with overall advertising, across all media, dipping by 10-20 per cent.
Travel portals have started to tie-up with online shopping portals and offline retail outlets to jointly promote their value-added offers as shopping portals gather huge traffic around festival time. They reason it will help them tide over the current lean phase in the economy.
You can now download Akash Das photographs on your cell phone.
Channels register presence in cyberspace through their own social networking sites.
Companies lure users with prizes and gifts to get them generate content and ideas for brand promotion.
The concept is making a comeback with companies like Bajaj, Titan, Kingfisher, Nirma and Airtel using their old jingles enmeshed with new visuals.
Inflation is affecting consumer spending and advertisers say they will now spend only on media which gives them the highest measurable returns. TV, for instance, grabs the biggest ad pie due to its mass appeal and the ready availability of TRPs, used to assess its returns.
