Middle-class people are looking to buy the best car at the cheapest price. Well, rarely these two combinations can be found in new cars. Droom’s platform provided an opportunity for second-hand car or bike buyers to buy the vehicle that people wanted at in much cheaper price than new ones.
Droom’s platform also became an opportunity for sellers because they are the ones posting images and pictures of their car and bikes so that they can find a buyer for them. Droom came into the market when there was already an existing application like OLX. But, how did they gain people’s attention and become one of the most reliable platforms when it came to buying and selling second- hand cars?
It was all about the marketing strategy that the company adopted. The company focussed on efficient marketing and made sure to reach out to as many people as possible.
About Droom
Droom’s Marketing Strategy
Droom’s Growth Over The Years
Conclusion
FAQs
About Droom
Droom is an e-commerce company that was founded in 2014 by Sandeep Aggarwal. Droom is an online application platform where people can either buy or sell second-hand cars and bikes with a fresh perspective. The company has its headquarters located in Gurugram.
Droom’s business is primarily in creating a marketplace in India to help people buy and sell used cars (multi-category). Sellers on this platform are provided with useful tools to manage their listings. Droom became the 17th Indian startup to achieve the title of a unicorn as a high-profile investor.
Droom’s services were appreciated by most users because a deal could be done between a buyer and a seller within five days. This was pretty amazing and a new way of bringing a service to the people.
Droom’s Marketing Strategy
Droom’s marketing strategy is quite simple yet effective one which is being able to attract new users to its website every day. There are four to five strategies that the company uses to market and brand its company. Some of them are as the following.
Facebook (Meta) Community Advertising
India’s most trusted motor place i.e. Droom created a community page on Facebook where the company is carrying on with its marketing. This is one of the simplest methods of marketing to attract a large number of customers at a single time.
Impressions
Also known as ‘ad view’ impressions means a metric system that is used to quantify digital views in a piece of content. To put it in simple words, impressions are all about online advertising.
Targeted Mailers
Also known as email marketing is what Droom uses as one of their marketing strategies. Once a user becomes a subscriber then the user receives emails from the company regarding deals and offers. A targeted mailing list is important for the profitability of the business. This is why Droom focussed on such marketing techniques.
Banner Advertisements
Banner advertisements again are one of the common methods of marketing not only for other businesses but for Droom too. It is the simplest way to reach out to the audience directly. Droom captured the attention of the audience through such advertisements.
All in all, it can be said that the company uses the use of social media primarily for its advertisement. The advertisement methods might be common but they have proved to be effective ones.
Droom, also recently rolled out their TV advertisement and started new campaigns. ‘Droom Hai, Toh Fir Test Drive Kyu?’ advertisement campaign created a buzz on several platforms. The ad campaign urged customers to buy used cars rather than testing them first.
Droom’s Growth Over The Years
With effective marketing techniques used by the company, it was obvious that Droom’s future was all about growth and flourishing in the market. Back in 2014, when the company was just stepping into the Indian market its inception took place in Singapore. It was in the same year that the company had raised its 1st and 2nd rounds of capital funding.
By the year 2015, the company sold its first vehicle of Droom and in the same year, its several applications were launched like the mobile application, website, etc. By the time July came in 2015, the company had already raised its 3rd round of funding. By this time the company had already sold more than 100 orders.
Droom received several awards for its contribution to the online automobile platform. Some of the prestigious awards were the Coolest start-ups award, Consumer Durable and Integrated advertising campaign awards, and more.
Conclusion
A company like Droom has proved that competition does not matter if marketing is done efficiently. Droom’s current growth rate is 100% every year which is quite surprising because it is something that does not happen with every business. Altogether, the company had 6 rounds of funding and by the end of its 6th round, Droom had already raised more than $125 million.
FAQs
When was Droom founded?
Droom was founded in 2014 by Sandeep Aggarwal.
What does Droom company do?
Droom is India’s online marketplace for buying and selling new and used cars. Droom is India’s largest auto portal.
How to contact a seller at Droom?
There are support assistance provided to the customers who want to engage business with Droom. However, other than that there is also a Whatsapp number that people can use to contact them.
Which vehicles can people buy and sell on Droom?
Vehicles to buy and sell on Droom are:
- Car
- Bike
- Scooter
- Bus
- Bicycle
- Plane
- Truck
- Tractor
What are the popular brands of used cars on Droom?
Some of the popular brands of used cars on Droom are:
- Maruti Suzuki
- Honda
- Hyundai
- Toyota
- Tata
- Fords
- Mahindra
- Volkswagen
- Audi
- Jeep
