Growth of Digital Marketing Industry in India
The internet has become our refuge for everything. Its influence has intensified to such an extent that we simply can't shy away from it. India currently holds the largest population in the world and millions of people are getting access to the internet on a daily basis. This has opened up numerous avenues for a plethora of things which include education, marketing, freelancing, 'youtubing', entertainment, handling social media, etc. Each of these avenues is growing at a fast rate with each passing day. I will talk about how online marketing, also known as digital marketing has grown and how it is growing at such a rapid pace.
If you rely on statistical sources, digital marketing is growing by 25-30% annually. The increased number of users using various online platforms is responsible for this. Now numerous businesses are using such platforms for popularizing their services and attract the customers they need.
From where it all started
Marketing was reserved to commercial advertisements on TV, door-to-door selling, word-of-mouth, radio notifications, printed ads, etc. The internet hadn't evolved to its fullest form at that time. It was in 1995 that India caught up with the internet. This is when public got access to mobile phones and also the internet. In 1996, the India MART B2B online marketplace was established by Dinesh and Brijesh Agarwal. The company deals with over 97,000 categories of products that include machine parts, textile products, medical equipment, etc. According to the KPMG Research firm, IndiaMART has over 60% market share.
This was followed by the birth of another outstanding e-commerce platform called Flipkart in 2007. Flipkart sold a variety of products and enhanced the online shopping experience of customers. Now many small-time businesses have resorted to this strategy for achieving their business goals.
How it continued
By 2010, Indian marketers began to exploit digital marketing strategies for elevating their business reach. Many new e-commerce sites like Myntra, Snapdeal, Shopclues, etc, became famous. According to the International Journal of Advanced Research Foundation, India has been witnessing a massive growth in digital growth since 2013. This trend will not die down soon. By 2016, about 72% marketers scrapped the traditional model of marketing and advertising. India has managed to catch up with the latest global trends in spite of being introduced to the workings of the internet later.
Factors responsible for the digital boom
- Increased exposure of Indian population to internet and electronic devices. Now even people from rural areas have access to all these facilities.
- Increased standard of living
- Affordability of products
- Convenience of online shopping
- Increased digital potential of Indian markets
Influence of Indian Government
The Government's Digital India initiative has led to the improvisation of digital infrastructure for giving rise to new startups in big cities and small towns as well. There has been a significant rise in the number of global services, social-media outreach and whatnot with this initiative. The programme aims to make Indian society a digitally empowered society. The government's e-marketplace has also seen a massive rise in the number of registrations. This shows how the government is trying to mould young minds towards the latest digital trends.
Growth in the number of digital marketing agencies and professionals
“According to Cisco’s Visual Networking Index (VNI) report, by 2021, 829 million Indians (59 percent of the population) are expected to use the internet on a daily basis. Out of above 829 million, 79% will access the internet through mobile”
The world of digital marketing revolves around many technicalities and non-technicalities. There are many businesses that have to rely on the expertise of digital marketing agencies and professionals. There are many digital marketing company in Bangalore, Mumbai, Delhi, Chennai, Kolkata, etc that provide the best services for enhancing the digital growth of your business. They are making a business out of these businesses.
Good agencies make sure that your brand creates a lasting impression on the audience. About 45% of these agencies have a very small team of the best experts who have expertise in various fields like search engine optimization, social media marketing, search engine marketing, branding, content marketing, influencer marketing, graphic designers, etc. Along with these services offered by the digital marketing agencies in Bangalore, it is also equally important to hire an SEO company in Bangalore which can take your brand name to the new heights and world, which will boost your marketing campaign. These professionals use everything from website designing, consulting, content writing to creating a huge social media presence for escalating your business. They have to be good at creative thinking to strategize the best business plan suited for your company alone. Thus, digital marketing is one of the best career options if you wish to leave a mark in the field of marketing.
Future of Digital marketing in India
India's digital marketing industry is worth over 68 billion dollars. About 70-80% of the population thrives on online shopping from leading platforms like Amazon, Flipkart, Myntra, etc. This percentage is bound to go on increasing in the coming years. People are becoming more and more tech savvy with each passing day. Here are some of the latest trends that will continue to advance:
- Artificial Intelligence for improvising automation
- Chatbots for answering customer queries in an authentic manner
- Influencer marketing
- Improvement in voice search
- Video content for better marketing
- Social media channels for better advertising
Digital marketing is going to remain attached with us for many generations now. We are rapidly progressing towards being the number 1 digital market in the world.