Understanding the Scope of Digital Marketing
Scope Of Digital Marketing
Today, almost everyone is online. With access to cheap data and affordable smartphones, the number of people across the globe who have access to the internet has increased exponentially. This means that if the companies want to connect with their potential customers, engage them, create brand awareness and sell them some products or services, they can easily do it through online channels.
That is what Digital Marketing is all about.
Businesses today leverage digital channels such as social media, search engines, email, and websites to connect with current and prospective customers.
The Growth of Digital Marketing
When we think of the key indicators of success in marketing, the first thing we think of is the number of people reached through marketing practices. The internet’s penetration has reached outstanding numbers. Looking at India itself, it has the 2nd largest number of internet users in the world. By 2023, the number of active Indian internet users will reach almost 666 million. So when companies see these numbers, they realize the importance of the internet as a channel of marketing. Online marketing is considered cheaper, with higher reach; this is extremely attractive to the companies as their aim is to connect with customers with the least amount of costs.
Companies are giving so much importance to digital marketing that some of the biggest ones are restructuring their marketing budget to shift their focus to digital. Unilever, one of the oldest and most successful companies, is set to completely transform itself as a digitally focused company. It has replaced the role of Chief Marketing Officer with Chief Digital & Marketing Officer.
Unilever has said that this is an important step in becoming a “future-fit, fully digitised organisation at the leading edge of consumer marketing.” Unilever has also understood the e-commerce era and has recognized online retail as its most important growth channel.
The Future of Digital Marketing
The Indian internet industry is going to be worth $160 billion by 2025, according to a Goldman Sachs report, which is three times its current value. Many companies are shifting their focus from traditional marketing to digital marketing. In fact, digital advertising spends are set to reach Rs 25,000 crore in India by 2021, at a growth rate of more than 10.5%. This is going to lead to a situation where lakhs of jobs will be available in the digital marketing sector which includes social media marketing, content creation, and online retailing, online advertising.
Thus, companies are looking for people who are skilled to handle digital marketing jobs. This is seen specifically in a study done by Google and BCG, where India appears to be taking a progressive and more mature digital approach in marketing, ahead of many brands across APAC, Europe and Latin America, with the most mature brands reporting significant benefits for digital marketing efforts.
A recent report by Linkedin shows that digital marketing jobs are one of the emerging careers in India since digitisation is being adopted so largely in the country. As the younger generation is emerging in India in numbers, we see a large increase in social media usage by Indians. India, 67% of internet users will be under 35 by 2020 according to Statista and the total population in India under 35 is around 65%. This means, their biggest audience is this group and in order to reach them, they must enlist employees who are capable of doing so, which is the job of Digital Marketers.
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