Digital marketing had its advent in 2006 and has been growing exponentially ever since. A low-cost, high-on-returns medium, its benefits were multiple. Most of all, perhaps, was the benefit of streamlined customer targeting through social media algorithms. In other words, you no longer had to generalise and reach out to a certain socioeconomic group, a majority of which most likely could be convinced to purchase your product or service, but you could find out exactly which individuals were looking for your product or offering and make yourself visible to them. This worked the other way round as well; brands could now have a deeper, more precise insight into their target group, their behaviours and preferences. All in all, digital media could be called the advertising agency and marketing manager’s dream. Besides this, social media is attractive because it is not responsive to fluctuation in the economy. During and in the aftermath of the demonetization of November 2016, the world of digital marketing has remained broadly unaffected, while other advertising agencies and marketing channels have taken a hit. Where other industries are struggling with a rising percentage of 8-10%, the digital ad industry is roaring at 35% growth. In the future, studies by experts have proven that social media is here to stay.
A Favourable Paradigm Shift A recent survey by Adobe reveals that 59% consumers in India take more interest on advertisements in digital media than TV commercials and radio ads. Whereas, as per the Dentsu Aegis Network India’s recent report, the share of digital advertising in India would get doubled in the next 3 years, that is, from the current 12% share to 24% by the end of 2020. There is a definite paradigm shift in the minds of consumers towards digital media, and not just in the Tier 1 cities. In the past 10 years, the scepticism involving anything present only on the internet has dissolved, and been replaced by a love for the convenience of online shopping etc., through the efforts of internet businesses and advertising agencies. That’s why the growth of digital advertising in India exceeds the global growth, that is, 35% percent and 10% percent CAGR respectively. Infusing Success to Start-ups The dawn of digital India brought immense opportunities to young entrepreneurs and tech firms; as a result, the country has witnessed a booming start-up culture. However, tradition advertising was too expensive and fraught with risk for these young bootstrap investments. Thus, they turned to digital media to promote their businesses, leading to various success stories such as Ola, OYO Rooms and ShopClues, and promising more in the future. Technology as Industry Catalyst
Programmatic marketing is promising to be the driving forces of communication in the digital ecosystem, along with analytics, augmented reality and media strategies. Programmatic marketing will not only dominate traditional advertising but may even make man-made marketing techniques completely redundant. Besides this, newer dimensions will be added to social media and content will remain king as mobile will continue to lead to the race, with wearables and other, more personalised technology, will come a close second. India ranked on the second spot in the internet consumption, and advertising agencies are exploring it with increased reach and mobile advertisement, especially social media marketing. Ads placed on this platform yield better results, more clicks and impression as compared to other verticals including mobile. To be precise, 88% of those who have seen ads on such platforms have clicked and viewed. To sum up, with 200% growth in mobile penetration, availability of internet at cheaper price, increasing ratio of young and educated population and a significant rise in the participation of rural audience on social media, the future of digital advertising in India is looking extremely positive and encouraging.