Studying in one of the best BBA colleges in Delhi, you should be privy with the fact that direct to consumer business models are on the rise currently as the market has finally reached a favourable position where both parties are agreeing to meet at a common point. Businesses have long seen the benefits of selling directly to their customers as that will help reduce distribution costs and bring home higher profits. But what they lacked was the platform through which they could sell easily. Customers, on the other side, were used to buying from retailers selling products of varying brands. Somehow variety commanded more confidence than singularity.
But the spread of the internet changed all that. Brands started using e-commerce to sell directly to customers and people vested more trust in businesses by connecting over social media. DTC is thus slated to grow by almost 24.3% in the coming few years and this is where you should either target to land a job or start up a business. Here are the trends to look out for.
- DTC in healthcare is the next big thing
The COVID crisis has exposed the frail spine of the entire world’s healthcare infrastructure. And be sure that the world is going to invest heavily in this sector right after the pandemic recedes. DTC will be the top area that will garner most of the attention as people have shown massive confidence in the few existing businesses that are now delivering healthcare services directly to consumers. Fresh out of the best BBA colleges in India, the healthcare industry should be your target. Gather experience here and settle your professional life for a good few decades as companies are bound to look for professionals soon with healthcare managerial experience.
- Third-party DTC providers will thrive
Not all companies have their own DTC wing. These hire third-party direct to consumer sales providers who generally function on a subscription model to not only have permanent customers on board but ensure continuous sales to its clients. Again, the COVID pandemic of 2020 shot these brands to fame as people were stuck in their homes and had to depend on these services to get their essentials. The habit is likely to stay on and the brands should thrive. Take note of the emerging third-party DTC companies. Be it sales or marketing, these brands are doing some promising work.
- The dynamics of DTC marketing is changing
Speaking about marketing, a whole new section of DTC marketing jobs is likely to open up as social media is continuing to lose its relevance. Recent statistics show that customer acquisition costs over social channels have shot up rapidly with turnover falling by almost 67%. These are not good news for businesses and they are being forced to look at emerging marketing channels by foregoing the traditional ones. Hence, companies are creating new portfolios and bringing in new experts. Expect to get hired soon not to work on Facebook or Instagram promotions but in vouchers, first-month discounts and so on.
- Data analytics is the secret key
Direct to Consumer business model is picking up because of its heavy dependency on personalization. And that is facilitated by data analytics that runs on the background to analyse customer data and feed them with what they want. Now, as graduates of the best colleges for BBA, you will naturally have a basic foundation of data analytics but you will rarely have to sit with raw data. Your job will be to analyze the report coming in from data scientists and interpret them before running the suggestions live. The more DTC personalises, the more your intuition will be required. This is where you can thrive.
DTC is not only trending but is here to stay. And no matter which professional path you choose to walk, this is the niche that can bring you fast growth. After your BBA, you can go into sales, marketing or finance. But keep an eye on the DTC trends surrounding these as they will determine how you should shape your skills. Lingaya’s Lalita Devi Institute for Management & Sciences, based in South Delhi and affiliated to IP University, is the perfect institution to start your training. If your dream is to become a top executive or entrepreneur in a DTC company, LLDIMS is where you can build your foundation. The college has a curriculum that focuses keenly on emerging trends and readies its students for the future yet to come. Consumer preferences are clear. Business intentions are real. Are you prepared to work in a market that is about to take off?