How big is digital marketing currently?
Remember the days when we would see an advertisement for Domino’s on the billboards, and hear our favorite jingle for Pepsi – ‘Ye dil maange more’ on TV, and see the age-old Vicco Vajradanti ads in cinema halls before every movie? Those were the good old days when life was simple. But with the advent of technology, everything has changed.
Our day starts with blindly groping for our phones first thing in the morning and browsing Facebook to check what’s new, whereas WhatsApp is filled with group messages and random forwards, while there are tons of notifications of Instagram, Twitter, Pinterest, etc. In this age of technology, a lot is happening across the globe while you’re asleep.
Nowadays, everything is available online at the click of a button. What with people spending most of their spare time on the internet, they barely have time to look up from their phones or laptops to notice the billboards or listen to the radio. And so it’s necessary to advertise online too, to hold people’s attention.
This is where Digital Marketing comes in the picture. It is basically a way for marketing products and services ‘digitally’ i.e. by using the internet. Therefore, any electronic device that accesses the internet can be used to market a particular product or service.
There are a couple of ways by which Digital marketing is done. They include SEO (Search Engine Optimization) to make your website appear at the top of the Google search; PPC (Pay Per Click) which are relevant advertisement links you see on the search result page where money is paid for every click on the advert. Other techniques include content marketing, email marketing i.e. advertising by directly sending email to customers, and SMM (Social Media Marketing) – advertising using posts on Facebook, Instagram, Twitter, Pinterest etc. or sending bulk Whatsapp messages and SMSes.
Most businesses today are opting for digital media marketing to garner a worldwide client base. Digital marketing not only helps increase revenue and sales, but it is also cost-effective as all you need is an electronic device which is connected to the internet and you’re good to go. It is flexible and gives an instant response. It also aids in creating an online presence and giving a global identity to even the smallest of companies which were hitherto unknown to the world.
Since 2013, there has been a steady rise in the digital marketing scenario. The amount of money spent on total media ads in India has increased from $5.56 billion to $7.49 billion in 2017 and is expected to reach $8.53 billion by 2019. Just last year, in 2017, digital marketing generated a whopping 8 lakh jobs in India. It is one of the fastest growing industries with almost 40% growth rate annually.
Currently, India has over 460 million internet users, which makes it 2nd in the world after China. By 2021, there will be 635.8 million internet users and India’s internet traffic will be 291 times that in 2005. This paradigm shift will ensure greater impact and wide-scale reach of digital marketing tactics.
In the present year, experts claim that a couple of digital marketing techniques are bound to dominate. Influencer marketing may be the preferred choice for advertising, with over 71% people responding positively to it, and live video streaming may well reach its peak as it already has a 113% annual growth rate. Personalised content advertising will rise too, with firms familiarising themselves with client requirements. Moreover, with the increasing development in augmented reality and artificial intelligence, digital marketing across the globe and especially in India is sure to conquer new milestones.