Meet, Jio Meet
Jio has become a mammoth brand. Its portfolio of services offered ranges from e-commerce website to streaming services. Now Jio has dipped its feet into yet another business which is booming right now – Video Conferencing platforms. The launch of Jio Meet shows the ambitious nature of the brand to the world.
With Rs. 43,574 crore worth of Facebook buck behind them, it seems that Jio will leave no stone unturned. With the brand loyalty of the 387 million-strong subscriber base and the recent ousting of Zoom due to security concerns does make it seem like this is a highway to heaven for them. But looking closer reveals some hurdles.
One of the first issues that they’ll face is to ensure that their app runs on the international video conferencing quality and security standards that have been met by the other players in this industry like Google Meet or Cisco Webex. Additionally, this is also a requirement of the Indian government who is looking for Indian Start-ups to populate this domain.
Also, they’ll have to build a customer base. Mukesh Ambani said that Jio Meet’s prime focus will be on India’s 60 Mn micro, small and medium businesses, 120 Mn farmers, 30 Mn small merchants and millions of small and medium enterprises in the informal sector. This is a solid strategy, leveraging their brand penetration to capture a market yet untouched by the competition. But this is a sector which does not boast technological prowess and has been spooked by the Zoom related bank-fraud news that has been circulating lately. It is quite possible that even Jio’s huge brand equity won’t be able to minimize this fear. And as for the established markets – the corporates, they are so very well integrated with Google’s ecosystem that getting them to make the shift might prove difficult.
With the Indian media ousting the Chinese since the Huawei issue, distrust in Chinese products is rampant in the public. The current market leader, Zoom – A Chinese player, can be dethroned easily. But what is left to see is whether Jio Meet will be able to build a niche with MSMEs or it’ll be the big players who run away with the crown.
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