It would be wrong to say that digital marketing is still at its nascent stages in India because Indian brands have finally been bit by its bug with many companies essentially assigning special budget to data-driven Internet marketing. However, there still remains a certain section of business which is still considering its benefits over traditional marketing , however, given how digital marketing is faring for many brands, it wouldn’t long when each and every industry will start prioritizing it over conventional marketing tactics. Be that as it may, quarters of advertisers have officially intended to put into Digital Marketing this year.
Digital marketing scenario in India
With the utilization of the internet, Digital marketing has become essential with the internet being accessible by all and forming opinions and their buying decisions on the basis of what they read online. While every single industry is battling with a growth rate of 5 to 10 %, the advanced media industry is going high with 40% development rate. Such reports are sufficient to advise the place to digital marketing in next couple of years.
Digital marketing market size in India
Digital Marketing is developing at a fast pace in India. As the web clients are expanding step by step, web based business industry is additionally on a hike. Organizations are moving their promotion spending plan from customary advertising to advanced digital marketing. A brand can no longer afford to ignore or under weigh the game of social media marketing or SEO analytics. The brands have realised that the consumption of information has changed; it has shifted from print and TV to the Internet. Even the medium of consumption has seen a shift- people are now consuming maximum information on their mobile phones and to reach them on their handsets, digital marketing is the definite way .
As per IBEF.org(India Brand Equity Foundation), India’s digital advertisement market is expected to grow at a compound annual growth rate (CAGR) of 33.5 per cent to cross the Rs 25,500 crore (US$ 3.8 billion) mark by 2020
The Internet’s share in total advertising revenue is anticipated to grow twofold from eight per cent in 2013 to 16 per cent in 2018. Online advertising, which was estimated at Rs 2,900 crore (US$ 435 million) in 2013, could jump threefold to Rs 10,000 crore (US$ 1.5 billion) in five years, increasing at a compound annual rate of 28 per cent.
Digital marketing industry growth in India
The Internet and mobile have reformed how we once consumed brand knowledge and information. The scenario to access social media, YouTube, and other portals has changed a lot over the past few years. The eventual fate of digital marketing will develop, and we will likewise observe rural digital marketing assuming a critical part as well.
According to a report by International Journal of Advanced Research Foundation, 2013-2018 can easily be called as the golden age of the Internet sector in India with incredible growth numbers shown by e-commerce enterprises, social media platforms, online content, search engines and internet advertising.
Future Job prospect in Digital marketing
The axiom of trying to do something new and innovative can never go down, whatever the situation comes. The number of online buyers and service seekers are increasing daily, and so is the scope of digital marketing. Every brand in India is using SEO services to get its business promoted. Digital marketing technique is the most affordable way to buzz the business without paying much to the advertisers.
Moreover, the pay scale for this work is also right. Even if you are a fresher into this, you get some good amount of salary. Some of the most popular digital marketing job profiles are: SEO Analyst, Content Manager, Digital Mapper, Social media marketing manager, Product Marketing Manager. Search Engine Marketing (SEM) Specialist among others.
Global digital marketing industry
The global digital marketing landscape is growing relentlessly. One of the major factors influencing the growth of digital marketing is its ability to track and monitor the outcome of spending on digital marketing efforts. Unlike traditional methods, companies do not wait for their revenue number to increase and show the success of their promotional efforts. Instead via the number of likes, share, comments, and virality of their advertising campaign, brands successful apprehend their sales figure for a specific duration. Much of this market’s growth can be attributed to the fact that these platforms are interactive for users.
Digitalizing lifestyles of the middle-class population, growing use of internet, mobile and social media are one of the major factors responsible for the growth of digital marketing globally. Users are continuously shifting towards digital media are additionally providing purpose to market growth.
Future growth in this market will mostly be by the use of mobile devices. It is the most preferred digital media platform. The best approach to digital marketing stages is reasonable for clients. Client engagement rate of these campaigns is moderately higher than other advertising methodologies.
The scope of digital marketing as a way to promote business and reach the global village is boundless. Digital marketing as a career option too is a sector that will undoubtedly bloom. Moreover, in a diverse country like India where there is a vast customer base, digital marketing truly will reach every person with an acess to a smartphone and internet connection. The ‘Digital India’ campaign is critical for the surging and spiralling growth of digital marketing in India.