Digital Marketing in the new world and this coming year 2024, is the backbone of promotion for any industry and is on the rise among the public to make use of in the most optimized way.
It is a practical way of using social media and other online mediums to publish content and promote it to an interested or relative audience.
The Digital Advertising Revenue is set to reach ₹ 1,750 Crores by 2028 and 2024 is only a starting point after which there can only be exponential growth that we will see with time.
Strategies in Digital Marketing
-
Social Media Marketing
It is a strategy used to promote your content on social media channels like Facebook, Instagram, Twitter, LinkedIn, etc.
As of January 2023, India had 467 million social media users.
This represents 32.8% of the country's population.
 |
-
Content Marketing
It is an approach focused on creating and distributing valuable, relevant, and consistent content to attract and engage a target audience.
Of marketers surveyed, 83% measure the success of their content based on website engagement (69%), conversions (67%), website traffic (65%), email engagement (64%), or social media analytics (51%)
-
Search Engine Optimization (SEO)
SEO (Search Engine Optimization) is the practice of optimizing online content to improve its visibility and ranking on search engine results pages.75% of people will never go past the first page of the Google search results page.
The first organic search result on Google gets 31.24% clicks on average.
-
Email Marketing
Email marketing is a digital marketing strategy that involves sending targeted messages to a group of recipients via email to promote products, and services, or engage with an audience.88% said they use email every day.
Source: safalta
39% check their inboxes three to five times a day. 36% of our survey participants stated they spend less than an hour on email every day. However, 21% spend between two and five hours of their day in the inbox.-
Influencer marketing
Influencer marketing is a promotional strategy that involves collaborating with individuals with a significant online following to promote a brand or product.
More Than 80% of Our Respondents Intend to Dedicate a Budget to Influencer Marketing in 2023.
67% of Respondents Intend to Increase Their Influencer Marketing Spend in 2023.
23% of Respondents Intend to Spend More Than 40% of Their Marketing Budget on Influencer Marketing.
-
Data Analytics & Measurement
Any Digital Marketing Campaign needs data analytics and measurement to act accordingly and achieve desired results.
The big data market in India was valued at INR 157.24 Bn in 2022.
It is expected to reach INR 253.22 Bn by 2027, expanding at a CAGR of ~10.60% during the 2023 - 2027 period.
-
Mobile Marketing
All devices like mobiles, laptops, tablets, etc.
with different screen sizes or resolutions can be used in the process of Digital Marketing.
The share of ad spending on mobile devices across India was expected to reach 78 percent of the total digital media expenditure by 2023.
-
Emerging Technologies in Digital Marketing
The use of Artificial Intelligence for generating ideas is increasingly popular in Digital Marketing.
The study of prompt Engineering is adding a lot of value and providing many options in this field.
Over 82% of brand marketers plan to dedicate a budget to influencer marketing in 2023. 67% of marketers intend to increase their influencer marketing expenditures. The influencer marketing industry is expected to be worth $21.1 billion in 2023 – a 29% growth YoY.
-
Customer Relationship Management (CRM)
This is the basic step in any kind of Business where you are managing a relationship with your clients and customers.
Digital Marketing techniques like social media and email marketing act as the channels used to build a great relationship.
300% is how much CRM software can increase conversion rates.
245% is how much revenue can increase by using a CRM platform.
-
Trends & Future Outlook
The future of digital marketing will likely be shaped by the increasing prominence of artificial intelligence, personalized customer experiences, and the continued evolution of interactive and immersive technologies.
72% of businesses say videos have improved their conversion rate.
70% of consumers say they have shared brand videos.
52% of consumers say that watching product videos makes them more confident in online purchase decisions.
Video content is 50 times more likely to drive users than plain text.
Benefits of Digital Marketing
-
Growing Online Presence
The digital age is about making a brand online and growing your followers and if you are doing proper work every day, you can for sure develop a huge following among the people or your audience.
There are an estimated 3.5 billion searches on Google each day.
51% of shoppers say they use Google to research a purchase they plan to make online.
85% of marketers report using website analytics and SEO tools to track their campaigns.
-
Cost Effectiveness
When you compare Digital Marketing with Traditional Marketing, there is cost-effectiveness when you use digital mediums to promote your content, goods, or services.
However, businesses can generally expect to pay $1,000-7,500/month on average for digital marketing agency pricing.
Extra consultant fees of $80-200/hour may also apply for specialized consultation, depending on your desired SEO strategy which is far cheaper than traditional marketing methods.
Take a Master Certification in Digital Marketing Programme: Click here to enroll now
-
Targeted Advertising
You can target your audience as per their interests respectively and they can also approach you through search engines.
The compound annual growth rate (CAGR) of digital marketing from 2020 to 2026 is projected at 9%.
The digital marketing industry is predicted to reach $807 billion by 2026.
-
Measurable results
We can easily access the data analytics for an ad campaign on the search engine or social media in a customized way at your convenience.
-
Increased Engagement
There is a great possibility for your content to get a good amount of engagement on social media platforms as it has the power of organic sharing among the public if it's appealing to them.
Email Marketing is an example of that only.
-
Personalization
It involves tailoring content, recommendations, and user experiences to individual preferences and behaviors for enhanced relevance and engagement.
-
Adaptability & flexibility
Digital World is flexible with the current trends and we can easily adapt to the changes to work with the ongoing trends and make their optimum use.
-
Brand building
Your Brand Value is built only when you work on a timely basis and in the traditional way of marketing it takes a lot of time while with the Digital Marketing framework, you can build your brand very soon.
-
Competitive Advantage
When you are in the market either online or offline you always get competition.
Digital Space gives you help when you are competing with others as it gives you access to connect with your potential clients, especially through the use of social media.
In this digital age, where online presence is synonymous with brand growth, harnessing the power of digital marketing is not just a strategy; it is a necessity. As we navigate the ever-evolving digital landscape, businesses that embrace the versatility, engagement potential and personalized nature of digital marketing will undoubtedly find themselves at the forefront of success in the new age world.
What are the key components of a digital marketing strategy?
SEO, Social Media Marketing, Content Marketing, Email Marketing, Pay-per-click advertising & Analytics.
How does SEO work & why is it crucial for Digital Marketing?
SEO involves optimising a website to rank higher in search engine results, leading to increased visibility and organic traffic. It's crucial because most online experiences begin with a search engine.
What is the role of Social Media Marketing in Digital Marketing?
Social media plays a vital role in building brand awareness, engaging with the audience, and driving traffic to a website. Different platforms cater to various demographics and industries.
How can businesses use content marketing effectively?
It involves creating and distributing valuable content to attract and retain clients or visitors on your website or social media posts. It provides a channel to connect with your audience.
What are the emerging trends in Digital Marketing?
Artificial Intelligence, voice search optimization, video marketing, interactive content & user design experience.
How do you choose the right digital marketing channels for your business?
The choice of channels depends on the target audience, business goals and budget. A comprehensive strategy may involve a mix of channels to maximise reach and effectiveness.
How does Mobile Marketing differ from other forms of Digital Marketing?
Mobile marketing specifically targets users on mobile devices through channels like mobile apps, SMS, or mobile-optimized websites. It recognizes the unique user behaviour and preferences on mobile platforms.
