Digital Marketing – does it seem like an overhyped marketing terminology to you?
Well, if you feel so, that must be just you then, for Digital Marketing is the real deal at present. And why not? It has completely revolutionized the way business is conducted in the modern world.
In recent years, businesspersons around the globe swear by Digital Marketing – the tool that helps them get closer to customers like never before.
Contrary to traditional marketing techniques (direct mail, broadcast, print, referral, etc.), Digital Marketing entails everything-Internet. In Digital Marketing, businesses leverage the power of digital channels including websites, social media platforms, email, search engines, and mobile apps, to advertise their products/services and also connect with existing and potential customers.
Why Digital Marketing?
Thanks to the Internet and smartphones, the modern world is an interconnected hub now. As of 2019, about 81% of the developed nations’ population and nearly 56% of the global population has access to the Internet.
According to Datareportal, a whopping 5.112 billion people across the globe use smartphones.
These digits are only going to increase with every passing year.
In light of this situation, how can businesses not take advantage of these digital and electronic channels to make their presence known to the customer?
Today, the global digital advertising industry is valued at US$ 192 billion. Forrester Research maintains that the global online population dedicates around 52% of their media hours to digital channels. As this trend will continue to increase, by 2020, the global digital marketing industry will have a net worth of US$ 306 billion.
The rapid growth of Digital Marketing has made it one of the hottest in-demand professions of the day. Two of the greatest advantages of a Digital Marketing career are flexible career choices and high-end salaries.
Since we know that these two reasons aren’t going to be enough for you, we’ve listed a few reasons below, highlighting the scope of Digital Marketing in the future.
Digital Marketing – Future Scope
Apart from the booming smartphone market and the rapidly growing Internet base, Digital Marketing is gaining a strong foothold worldwide due to several reasons. In the first quarter of 2017, nearly 8 lakh Digital Marketing jobs were announced worldwide. According to stats, in the first quarter of 2018, Naukri.com – one of India’s largest job portal – declared for 13000 job prospects in Digital Marketing.
Here are 6 reasons why the future scope of Digital Marketing looks bright in India:
- The Digital India initiative.
The Digital India initiative was launched in July 2015. The goal here is to transform the public service ecosystem by leveraging the power of Information Technology and other digital tools.
India is gradually progressing towards becoming a knowledge economy and digitally empowered nation, owing to the rising penetration of smartphones and the Internet across the country (even in the remote areas),. The government has aligned numerous projects under the Digital India initiative to aid the aspiring youth of the country.
So, rest assured, you are bound to get government support for your Digital Marketing and business initiatives.
- No longer the era of traditional marketing.
Need we even remind you that this is the age of smartphones, social media, and all-things-digital?
Before the digital revolution, traditional marketing tactics like flyers and banners, mouth-to-mouth publicity, print ads, and so on would suffice for marketers. But today, one can’t even imagine relying solely on these age-old methods to grasp the market!
Given that the maximum world’s population is ‘online,’ businesses and marketers cannot help but adopt Digital Marketing strategies to reach their target audience. The digital platform has become a meeting ground for buyers and sellers around the world.
- It is all about being ‘Global.’
To become a successful marketer, you cannot limit your imagination and territory. In other words, you must expand your horizons and look beyond the bounds of a nation – aim for going global.
One of the greatest strengths of digital platforms like Facebook, Instagram, Twitter, and LinkedIn, is that you get to make your presence felt in any and every part of the world. These have helped break physical barriers and hence, once you’ve established a solid customer base in your native country, you can aim for a much broader canvas.
You can target the global audience, for one thing, is sure – if you’re selling something unique, there will always be sellers lining up!
- Doesn’t hurt your pocket!
Another reason for the popularity of Digital Marketing is that it is highly affordable and reasonable, as compared to other advertising and marketing techniques.
While paper and media channel ads require a handsome sum of money, a Facebook Ad will cost you as low as Rs.40 a day. So, why waste tons of money for a single ad with limited reach?
Instead, you could choose platforms like Facebook and Instagram to connect with a much larger audience base, and by paying much less!
- High engagement quotient.
The beauty of digital and social media platforms is that when you say something, people listen. Social media platforms have a humongous user base, and hence, it is undoubtedly the best ways to grab the attention of your target audience. Also, digital and social media platforms have a high engagement rate.
Thus, if you can curate quality content for these platforms, you can be sure that it will catch the eye of the right audience. The trick is to come up with quality and engaging content.
- Booming digital classifieds market revenue.
By 2020, the market revenue generated from digital classifieds will increase by is five times since 2015 – it will amount to something around 23 billion.
No other marketing tactics promises such an attractive growth opportunity, and that too in such a short time.
Clearly, there’s no way avoiding Digital Marketing. For better (not so much for worse) Digital Marketing is here to stay. Emerging entrepreneurs, whether in India or beyond, must open up to Digital Marketing strategies if they wish to establish a successful and flourishing business empire.
So, we suggest that you make hay while the sun shines!