Remember watching that scene in the ‘Pirate’s of the Caribbean’ movie, when Captain Barbossa says, “The world used to be a bigger place”? We aren’t quite sure what he originally meant with that, however one thing which is certain; is that we will be telling our grandchildren, better yet our own children, this very same line. All thanks to the internet.
The Magnet: Internet
The internet, designed specifically to bring people closer to each other. Ever since its inception, the World Wide Web has given countless benefits to humankind. The biggest one of them you ask; creation and storage of data. The word ‘Data’ has various meanings in various fields. The most common or rather easy one would be ‘facts and statistics collected together for reference or analysis.’ In today’s world, it is data, which sells.
Are We Independent Enough?
If you are starting to wonder why all this literature, do not worry there is an explanation. Due to dynamic changes in the pattern of purchase and the standards of living of people, the way we consume products/services has changed substantially. We are becoming more and more dependent on the web for everything with each passing day. So much so, that close to 85%, adult Indians have a mobile within reaching distance.
As of May 26 2015, 3 billion people were using the internet. By the time you would have finished reading this sentence, close to 53,093 GB of internet traffic will have been produced. With each passing second, 7,916 tweets are being posted, 26, 62,408 mails are being sent and people are carrying out 65,040 Google searches. Do not be baffled by these numbers for they are true. In case you were thinking, first all that literature, now all these stats; here is the reason.
Marketing: An Intersection of Buyers and Sellers
The world is a global village. There are buyers and sellers everywhere. It has been said repeatedly, that marketing is one of the premier concepts of business management coming second only to innovation, only because innovating is a bit more complex job. Once we know what we have to produce, we will figure out a way to sell it. Marketing is what brings the buyers and sellers together. Nowadays the traditional methods of marketing are becoming almost obsolete. Companies are shifting more and more towards digital media to get closer to their customers.
The advantages are obvious, it is more cost effective, has a better conversion rate between leads generated and sales, brand reputation, etc. However, do you not think that unlike all good things, even this will end? If you do, sorry to say but you are wrong.
Digital marketing is the future. If those benefits were not enough, let us just say it is going to be the future, because we have already started to shape it. Around 82% of customers conduct research about new products online and as per reports mobiles will account for 72% ad spends by 2019. The U.S. spent $529.82 billion on digital advertising in 2015 and by the year 2020, this figure is expected to reach $113.18 billion.
Opportunities in Digital Marketing:
The market is filled with opportunities for companies who have embraced Digital Marketing. Business has always been about keeping in touch with your customer. Reports show that every minute 840 new users are added to social media. Forget the net, 15,220,700 texts are sent every minute around the world. If you are thinking how business houses benefit from this, look at this image.
This is how much these tech giants earn every minute from the data, which is processed on their servers. Still do not agree that it is data, which sells? Oh, and just saying, by the time you finished scanning that image, another 225,740 GB data was processed over the internet. If you are wondering where does so much data come from here, the answer lies with this image.
Big data means big opportunities for the business. In this virtual reality, even money is in the air, literally. Even in Digital Marketing personalised marketing will be in demand, content marketing will also evolve. However, too much of data creates an information overload and to be very modest, not every person in a company knows how to use all of this data to create insight.
This leads to job opportunities. The number of people engaging with a business through the net is not going to decrease easily and people are required to handle this traffic. At present, this industry is at its peak and anyone can be a part of it since the digital era has just begun. As of 14th August 2017, the job search website Naukri.com had a staggering 1.5 lakh jobs to offer in this sector.
A major share has been contributed in the employment sector by this industry. As of January 2017, it was estimated that a total of 8 lakh job opportunities would be created during the entire year. The US has an even broader scope in this industry. Here is a proof of it. Search Engine Optimization (SEO)
Social Media Marketing (SMM), Email Marketing, Search Engine Marketing (SEM), Content Marketing, Web Analytics are few of the many areas where one can get a lucrative offer in this industry. So much data creates chaos, and forces are required to turn that chaos into order. Digital Marketing is the tool which is used to generate chaos and also provide opportunities to control it. Need I say more, that it is the future?