Ever wondered what would happen if you were not part of the always-connected ecosystem, and could not access your favorite shopping sites? What if you wanted to travel urgently and had no airline app or website to book your tickets? How would you be commuting to your office if not for Ola cab services? Addicted to digital connectivity from the comfort of our phone or laptop that opens a gateway to the wonders of the world, it is a nightmare none of us would like to contemplate.
This very digital connectivity and the instant access to goods and services on the move is what has driven the Digital Marketing industry.
Marketing has always been about connecting with the users. And Digital Marketing means connecting with them where they are spending time the most, on the internet. Digital Marketing embraces all marketing efforts that use the internet or an electronic device. Businesses do their marketing through digital channels like social media, search engines, web browsers, the Internet, blogs, and mobile apps. It is a highly competitive industry with marketers and brands vying with one another for a business edge.
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According to a report by Grand View Research the global Digital Marketing market size is expected to expand at a CAGR of 18.2% from 2021 to 2028. The phenomenal growth of the market is attributed to the rising habit and dependence on mobile devices and apps for information on the go and 24/7 services. The proliferation of smartphones across all world economies has created an appetite for the consumption of digital media, ecommerce, and services. It has resulted in an ever-increasing digital exposure and growth of Fintech, which marketers are prompt to respond to with the monetization of digital advertisements and social media sentiments.
What Digital Marketing is all About?
While traditional marketing is done through print ads, POP sales, communication on the phone, or physical methods, Digital Marketing occurs online. This increases the reach of brands to a wider geography and demography, using emails, videos, social media campaigns, search engines, websites, chatbots, and digital advertisements. Businesses advertise and promote their brand, product, service or offers through these digital platforms and channels.
Digital Marketing is essential for brand building and awareness. This makes it necessary for brands to have a digital presence like a website, social media handle, or applications that run on a mobile device. Even businesses like local brands that do not have a website have at least a digital ad strategy. The relevance of digital content and marketing has emerged as the cornerstone of brand information, and consumers rely on Digital Marketing to learn about brands and services.
Thus, business owners have to embrace Digital Marketing to be relevant and competitive.
Digital Marketing offers various options based on which strategies can be adopted. Marketing tools like analytics dashboards, Key Performance Indicators (KPIs), and metrics can be used to monitor the success and ROI of marketing campaigns.
As Digital advertising takes over, the industry will only continue to grow. And businesses, marketers, and advertisers must stay on top of the trends to survive and grow.
Types of Digital Marketing
Some of the popular Digital Marketing methods are:
- Search Engine Optimization (SEO)
- Content Marketing
- Social Media Marketing
- Email Marketing
- Sponsored Content (videos, blogs)
- Website offers
- Pay per click (PPC) ads
- Affiliate marketing
- Inbound marketing
How the Pandemic Revolutionized the Digital Marketing Industry?
The pandemic has hit the restart button for global marketing. It brought about a change that nobody could have foreseen. All of a sudden, individuals were confined indoors. Offices and shops were closed. Businesses and industries came to a virtual standstill. Yet people had to survive. The demand for food, basic amenities, and clothing remained. In fact, with people shut indoors, the consumption of goods increased. But how did one procure? Of course, online! Virtually overnight, neighborhood stores turned online to serve customers. Many stores closed down because the supply chain had taken a hit with lockdowns or hotspots of infections, creating an opportunity in digital payments as a contactless means of payment.
Existing ecommerce companies grappled to serve the sudden heavy customer base. Remote working became the norm. More people spend time online working, transferring funds, banking, ordering merchandise, browsing on social media, and watching shows.
At the same time, amidst layoffs and factory closures, marketers used digital channels of marketing to advertise huge discounts and offer to dispose of their goods.
In 2021, as economies recovered and jumpstarted economic activities, the change in the way customers bought and responded had already set in.
The pandemic triggered a paradigm shift in the way individuals used apps, made purchases, or availed of services. This had a positive impact on the market sentiments, and marketers and advertisers began using the digital channels for aggressive promotion of brands and offers. With the horrors of the pandemic lingering, the fear of venturing outdoors has almost become a way of life. Shopping from the comfort of home, getting home delivery of groceries and vegetables, using app cabs in place of public transport or regular city cabs, ordering-in food in place of dining out, availing of grooming services at home instead of visiting parlors, dependence on social media for brand information, spending more time online whether browsing or on social media, an increase in remote working, are some examples of post-pandemic lifestyle changes. These have added impetus to Digital Marketing, as brands compete for a bigger slice of online sales.
The continued shift to the digital and growing adoption of both, smartphone and wireless communication even in the rural countryside, has triggered a larger consumption of digital media. Marketers and advertisers are focusing more and more on the digital for promoting their brands and services. The continued rollout of high-speed mobile networks has also encouraged advertisers to opt for mobile advertising. Business strategies have changed as companies leverage new channels and Digital Marketing software for instant, one-on-one messaging.
Reasons to Upskill in Digital Marketing
The start-up ecosystem in India has taken the front seat as stimulus packages from the government begin to show results. The sectors to have some of the most positive impacts are Fintech and ecommerce, and consequentially Digital Marketing.
In the wake of the pandemic, we have seen how digital habits changed universally, shaping opportunities for new businesses to deliver digitally and old businesses to diversify in digital platforms. All of this means terrific days to come for brand marketers and advertisers, as they can target the user through digital media for higher returns on marketing investment (ROMI).
It is the perfect time to upskill in relevant courses and prepare for a promising future in Digital Marketing.