Reliance is one of the most powerful corporations in the world. The main shareholder of this corporation is Mukesh Ambani, the 7th richest man in Asia. Over the years, reliance has launched several brands. One of its most successful brands is the Jio network.
What is the Jio network?
Jio is a telecommunication brand that is owned by reliance industries. It came into the scene in 2007. The Head office of Jio network is in Mumbai. Jio’s LTE coverage is provided throughout India.
How much revenue did the Jio network generate in 2020?
Jio is increasing in popularity by each passing year. In 2020, this brand earned RS 19,475 core in revenue. It is a 5.3% jump as compared with the revenue of 2019.
How is Jio network generating a high revenue?
Multiple factors play a part in the generation of such high revenues.
Less expenditure in operations.
As of now, Jio has about 15000 to 20000 employees. Another big telecommunications company, Airtel, has 18000 to 19000 employees. But the difference is seen between the operational costs of both companies. A report has stated that the operational costs of Airtel are RS. 5201.5 core as compared with Jio’s operational costs of Rs.4560 Core.
The main reason for this difference is that Airtel has developed lots of data centers to the store its customer’s details. Jio has gone towards cloud storage. It saves cost because a company does not need to develop any data centers and pay the cloud service providers when their services are in usage.
The backing of Reliance industries
Due to several reasons, Indians have started to support only those products, which are manufactured in India. But this movement does not affect big companies like google and. Facebook. The reason is the government of India can not ban these companies, as these have the backing of Mukesh Ambani. Mr. Ambani is a powerful figure in India and can influence any decision that he wants to. In return, these Big corporations market Reliance’s products like Jio, which help them in generating more revenue.
Providing customers with undeniable offers
It is one of the main factors for the rapid growth of Jio network. They provide services to their customers at rates far lower than the rest of their competitors. Nowadays, Jio offers its customers 2 GB of mobile data, which will last for five days. These lucrative offers help Jio in attracting more customers.
Jio’s marketing strategies are spot on
The reason why many companies fail in generating high revenues is they do not give importance to marketing. These firms think that marketing will attract a small audience to them.
It is the wrong practice. Marketing plays a important role in the running a successful business.
Jio markets its services effectively. Their team of experts analyze that which public figure is currently in the limelight and then select them as their brand representatives.
Huge superstars like Shah Rukh Khan have remained brand ambassadors of Jio. Jio even sponsors events that attract huge audiences towards them like Film Fare awards.
These marketing techniques are costly but beneficial, in the long run.
Fulfilling the requirements of the common man
In India, 70 crore plus people have internet access. Jio has availed this opportunity by developing several applications for the public. These applications are Jio TV, Jio Chat, Jio Meet, Jio Cloud, Jio News, Jio Cinema, Jio Saavn and Jio Browser. Apart from these innovations, Jio network is working with Google on building a smartphone that would attract the masses.
The rest of the competition is doing nothing as compared with the efforts of Jio’s. Due to which, Jio’s competitors are far behind in revenue as well.
Final thoughts.
The progress of Jio should be a motivation for all the businessmen out there. For example, an influential person can benefit themselves by following Mr. Ambani’s techniques. A person should target the needs of a common man. They should implement the policies that Jio has implemented so that their businesses can also boom like Jio network.
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