Cashing in on the Lok Sabha elections season, consulting firms managing the election campaign strategy of political parties are likely to rake in moolah of over Rs 700 to 800 crore, according to estimates by an Assocham study.
The study says emergence of new tools like social media for reaching out to voters have also led to political parties hiring specialised agencies to handle their poll campaign.
"Disaggregating of the poll data is becoming important as things like vote share, winning margins, vote concentration, and demographic profiling are being used. Those winning would like to retain their hold while the losing ones would do a scientific analysis for their future strategy," Assocham Secretary General D S Rawat said on the study.
According to the study by the industry chamber, there are around 150 political consultants in India, big and small, charging between Rs 1 lakh-50 lakh for each constituency (543 Lok Sabha seats).
The services on offer include managing media, planning campaigns, marketing policies, designing promotional material, website and social media page and weighing the prospects of rival candidates.
"Voters' profiling and sending the right kind of message to the voters is the key," Rawat said.
The study also pointed out that political parties are roping in specialised agencies not only to manage their campaigns in large cities like Mumbai, Delhi, Bangalore, Ahmedabad and Kolkata but also tier- II and tier-III cities.
These specialised consulting firms are often media companies with experience in public relations and political campaign management.
The additional functions of political consulting firms include mass mailings to influence voters, research on the opponents and graphic design of signs and pamphlets, the study said.