The Digital Marketing Economy
In recent years, India has witnessed the digital transformation.
In the Year 2018, the data consumption was double in comparison to year 2013.
Old economy industry never thought that how big this digital marketing business is going to take place.
There was a time when many companies struggle to take a pie of market share with their same old strategic traditional marketing practice.
But nowadays every single big or small business unit is taking advantage of this modern practice of digital marketing to reach and cater the market with target driven niche audience.
It was indeed a gift of low data tariff introduced by Jio in 2016 in return gives boost to digital transformation.
Also the initiative of de-monitisation done by the PM Narendra Modi gives the population to make a leap in digital transaction which in contrast result to digital transformation.
Now almost everyone is peer with mobile phone and the mobile data usage is increasing day by day.
Big multinational brands leveraging the benefit by combining with the locals, and some choose to take the war.
Old economy companies and Brands started making their presence in the digital platform and international brands struggling to understand the psychology of local market.
Next Big Challenge In Digital Marketing
Big Challenges for Brand Managers, Marketing Managers and CEOs In Digital Marketing
Today companies have a dedicated budget for “Digital Marketing”, a well defined marketing strategy to address your marketing goals & objectives, sale lead, lead generation & brand awareness.
Digital Marketing is such platform where your need your brand or business to be digitally presence.
21st century people are smart enough to be convinced if your company or your brand needs to be more credible, reliable, and most importantly be loveable across the digital platforms.
You should always need to plan and monitor all your execution. You must timely measure, analyze and make report of your digital marketing campaigns against your goals.
Decade Ago Business Practice Without Digital Marketing
If you look a decade ago in any happening organization, no one bothers for digital platform.
Neither there was any sanctioned position of digital marketing especially for digital people in the organization earlier.
Further more, no budget allocation for spending in digital platform.
As a result many companies still lag behind in competition.
Now organization can’t breath without digital platform. Even the small start-up is curious from the day one of its operation to develop the digital platform and start measuring its penetration impact in social media.
Digital Marketing Vs Traditional Marketing
Unlike the traditional marketing campaigns which was popular practice a decade ago, likewise digital marketing campaign need to be effective for campaign success.
With the advent of various techy tools and techniques digital marketing campaigns are measurable more easily.
If you do the proper competitor analysis, market insights, social media analysis and social listening, various growth hacking techniques, market harvesting in social media your campaigns can be optimized for the best results.
Selecting The Right Digital Marketing Services
Though how we all already understand these. Therefore there is still another challenge due to difficulty in finding the right skill, well groomed experienced persons!
Most of the agencies can’t give fully digital marketing service and too focus on Facebook or Google Marketing.
Most of them do not properly measure the results of your digital campaigns or do not speak in the language of KPIs.
There are many digital marketing agencies who are misguiding or lack in key skills.
They just uploading some graphics and contents without a marketing strategy and assume the work is done on their behalf.
We found out that these contents are lack of creativity and most importantly not relate with the company’s branding and philosophy which they want to embark in the mind set of customer.
Even the big brands, local or multinational, are facing challenges in finding an experienced, skillful digital marketing specialist.
Growth in Alternative Ad Networks
With the increase in mobile user in recent years, many main stream social media like facebook, youtube and google encash their platform.
These web platforms keep adding new features to cater the segmented audience in 2019.
There are also alternative ad and social media networks as they can often provide big wins for your business like tik tok, mx player, voot etc.
Similarly, Bing and Yahoo search are likely to be the biggest winners in this space. Even companies are now started considering for pragmatic ad buying approach to reach the niche target audience.
Challenges to keep the pace in digital world
Things are changing every second in the digital platform. Companies are now working on Artificial Intelligence (AI) to ease the work process.
Artificial Intelligence (AI) is the game changer on the block.
It is a smart move of integrating AI with digital marketing to compete in the digital war.
Google ‘Orkut’ was history now. Likewise nowadays people hardly text via sms.
Things what was working yesterday or a few months or years back may not work today as the changing preference of user.
Digital marketers needs to understand the nerves of the demography where their target user are sticking now.
Try different platforms and activities to boost your marketing activities to penetrate the user. Reach as many as you can.
Make use of Chatbots, social media pages, forums etc and promote your content in every possible way.
2019 witness more on insight and analytics. Some are questioning that whether automation and AI will take over Digital Marketing? In my opinion it depends upon the adaptability and paradigm shift.