According to IDC, the Indian digital marketing space is valued at 102 billion US dollars at the end of 2019. Experts believe that there are still many untapped resources in the Indian digital marketing realm that can significantly improve the growth of the sector. While big companies and conglomerates don’t necessarily opt for digital marketing there are millions of small and medium businesses that can use digital marketing to improve their business. The sector is growing at 30 percent but this is definitely going to improve in the coming years. In the next 10 years, the industry is going to continue to grow like this without any major glitches owing to the increasing social media penetration.
Giving detailed insights about the current scenario of digital marketing in India and the future trends that are going to impact the sector in the near future is industry stalwart Devjeet Singh, Director, Conversion Perk which is a leading digital marketing brand operating in the Indian market.
When it comes to marketing, uniqueness is a must. What are the most relevant strategies to be followed to ensure effective digital marketing?
In order to formulate the most effective strategy, we need to set a few things like the objective of the ad, the target group, and the desired budget to name a few. After setting these, we start formulating marketing strategies and we also provide video marketing for our clients. The video marketing can also be of many types including promo videos, videos for special events, product explanation, and many more. Then there is content marketing and I think having a diverse mix of various marketing strategies is also crucial for having the most effective digital marketing.
Considered to be the Worlds’ largest Facebook Population, how are the Indian consumers responding to the current innovations happening in digital marketing?
We are also the youngest population on Facebook with an average age falling between 25 and 30. They are the most suitable customer for any brand and these new age customers are accepting the new trends put forward by the companies. This is a welcome sign for the businesses and many foreign and local businesses are targeting these customers to improve their growth.
As per a recent report, more than $7 million advertisers across the world are interested in investing in PPC. What is the role of PPC (Pay-Per-Click) in enhancing a business frontier?
We all know that Google is the most relevant medium to get information so obviously, advertisers want to target Google with their products and then the clients will target social media channels. If you are in the first 4 on these platforms you will get more traffic. So the base for this PPC is that you can control your budget and it is not like you have to spend millions to run the campaign. You can also start the campaign with even 5 to 10 dollars. Then you can target your audience and on top of that if only someone clicks on your ad then only will Google charge you. PPC is not only setting your marketing budget but you will see some improvements in returns as well. This is changing the way people are approaching digital marketing on the whole.
Currently an industry of more than $65 billion approx., how is SEO (Search Engine Optimization) ensuring maximum traffic to a Website?
The best part about SEO is that it is cost-effective and it is an essential facet of achieving the best possible digital marketing strategy. After that, if you achieve first page ranking, you will stay there for a long time which generates more traffic. This also gives a better profit margin for businesses and in SEO you will only have to pay for your advertising agency and you don’t have to pay Google. Since 75 percent of traffic comes from Google searches everyone wants to achieve first ranking and that is what we as a digital marketing company help our clients in.
What is the future of the E-commerce sector in India?
Talking about e-commerce, there is immense scope for improvements and there are a plethora of growth opportunities in the sector. For example, there are brands like Amazon, Myntra, and Flipkart that are popular in India but there are various other e-commerce sites like Wallmart and obviously we can expect huge improvements when they enter the Indian market. There are lots of startups and there are many markets still unexplored in the sector that has got huge market potential.
Trends You Need to Know
With industry 4.0 right around the corner, the techniques and technologies adopted in digital marketing can have a massive up-gradation and here are some of the noticeable trends that everyone should look out for:
1. The Uprising of Social Media Platforms in Digital Marketing: While many western countries have optimized the utilization of various social media platforms for digital marketing, India is still far behind the front runners. With the introduction of new social media platforms such as tiktok gaining immense popularity in the country, the time is right for Indian companies to make the best use of these platforms to leverage growth opportunities.
2. Impact of AI and ML: By making the entire gamut of digital marketing services more efficient, AI and ML will have a major impact on the effectiveness of the entire sector. The introduction of AI and ML will also help companies to formulate glitch free digital marketing services.
3. Importance of Investing in Chatbots: With everyone being so busy nowadays, companies and their services should also keep pace with it. Chatbots will allow businesses to develop personalized responses for their clients’ queries that will help companies to attract the attention of their clients.
4. The Growing Trend of Personalized Messages: Gone are the times when companies can give generalized content and get away with it. With mobile internet penetration at its highest, customers have the ability to demand the content that they want at the time they need it.
5. Introduction of Micro Moments: The increasing usage of smart-phones has reduced the attention span of the users drastically and companies need to be on their toes to understand what the customer wants and provide the needful to stay relevant in the digital realm.
Digitalization has provided the customers with the power to demand what they want to see and when they want to see it. This has made it even harder for companies to keep up with the dynamic tastes of the customers. For companies to offer the smoothest digital marketing experience for their client, it is essential that they target the right group of customers and offer tailor made content. Although companies are finding it hard to stay on top of the charts in the digital space, if one can formulate a unique digital marketing strategy that is targeting the right niche of customers, the growth opportunities that the digital space can offer is second to none.