The success of a brand in the business world depends significantly on marketing and advertising; the former brings brands closer to their target audience while the later elevates them in the action-packed market which runs on animated ideas and innovations. Since 2006, advertising is evolving drastically due to the advent of social media and advancement of the digital technology; this evolution is blissful for all those who are ready to anticipate and adopt the change. Marketers who initiate in utilising these latest trends and developments get easy success in increasing the universe of their target audience. Despite demonetization, a path of digital marketing would be enriching owing to broad verticals of marketing, new techniques, and power mechanisms. While other industries are struggling with a rising percentage of 8-10 percent, the digital ad industry is roaring at 35 percent growth.
A Favorable Paradigm Shift
A recent survey by Adobe reveals that 59 percent consumers in India take more interest on advertisements in digital media than TV commercials and radio ads. Whereas, as per the Dentsu Aegis Network India’s recent report, the share of digital advertising in India would get doubled in the next 3 years, that is from the existing 12 percent share to 24 percent by the end of 2020. From these research and studies, it can be easily inferred that the consumption of digital media in India is increasing rapidly and gradually. Today, people don’t feel afraid of buying apparels, books, air tickets and even the food & grocery items from online stores. Simultaneously, the virtual marketplace is no more vulnerable to the negative psychology of the customers about E-commerce. This shift is not sudden or supernatural; it is the power of digital advertising that has changed both perception and preference of the masses about E-markets and E-brands. That’s why the growth of Digital Advertising in India is far exceeding than the global growth – i.e., is 35 percent and 10 percent (both are CAGR values), respectively.
Infusing Success to Startups
The dawn of digital India brought immense opportunities to young entrepreneurs and tech firms; as a result, the country has witnessed a booming startup culture. For these young bootstraps investments in traditional advertising was a big challenge due to limited funds and marketing budget, but a business cannot increase its outreach and penetration without effective promotion. At this crucial juncture, Digital Advertising emerged as a messiah for startups and small businesses, many successful brands like Myntra, Shopcules, Coupon Duniya, Lenskart, Girggit, Shipway.in, Innefu Labs and hundreds of others are the green offshoots of this digital revolution in India.
The Futuristic Harmony & Confluence
Fuelled by Augmented Reality, Digital Advertising is more persuasive, more interactive, more customised, and more interesting than conventional media. Also, being more flexible on viewing choice once can skip to an irrelevant ad or deal. In a country of over 1.3 billion people that lives in 29 states and communicate in vernacular languages, the mainline media cannot meet the aspirations of a large section of the population. Native Advertising is an ultimate solution to this problem; it bridges the gap between marketers and prospects and enhances the user experience. Moreover, a bevvy of content choices before the marketers in the form of text, videos, GIFs, graphics, and a dozen more open a big gateway to customization. No doubt, content is the engine of all forms of communication on digital platforms, and if it’s backed by the Big Data; big returns are not a big deal.
Technology as Industry Catalyst
Digital is the destiny of tomorrow; Programmatic, analytics, augmented reality and media strategies will be the driving forces of communication in the digital ecosystem. In fact, Programmatic is going to take a big piece of Digital Advertising pie in the coming years. Programmatic marketing will not only dominate the traditional advertising but will wipe out the man-made marketing techniques soon. Besides, Mobile will continue its dream run while wearables will add a new dimension and content will remain the king.
The Future is Digitally Fabulous
India ranked on the second spot in the internet consumption, and advertisers are exploring it with increased reach and mobile advertisement. Digital ad world has great authority over entrepreneurs as it authorised them to scamper their startups in a very strategic and profitable manner. According to reports, Social media marketing is the most engaging way of the digital ad world, and advertisers know that. Ads placed on this platform yield better results, more clicks and impression as compared to other verticals including Mobile. To be precise, 88% of those who have seen ads on such platforms have clicked and viewed.
To sum up, with 200 percent growth in mobile penetration, availability of internet at cheaper price, increasing ratio of young and educated population, speedier digital transformation of small businesses, growing inclination of consumers towards e-commerce, richer audience engagement, increasing role of automation & data analytics, and a significant rise in the participation of rural audience on social media, it is easy to forecast that the future of Digital Advertising in India is phenomenally astounding.