You realize that your wardrobe needs an upgrade. Therefore, you fix a date with your family to go shopping. The day arrives.
You all dress up, gather in the drawing room, take out your phones and start shopping. Sounds funny I know however, this is the future.
The dressing up part was a bit exaggerated but that is how it will work. Time is not going to stop and we are already heading towards that phase where everyone, literally everyone will be connected. The internet will play a MAJOR role in this. Well hasn’t it been doing ever since? Bringing worlds closer.
Statistics for a Start:
If we look at some internet statistics, we are in for a ride. The number of users on the internet increased from 1% of the world’s population in 1995 to 40% in July 2016; that is nearly 3.42 billion people.
By the time you would have finished reading this sentence, close to 53,093 GB of internet traffic will have been produced. The number of Google searches carried out per second is 65,040. This was in reference to the world. If we look at India, there are 110 million mobile internet users. Out of this, 25 million are from rural India.
It was estimated that the country would have around 243 million internet users by June 2014. India deals with the largest online shopping deals in eCommerce Businesses coming third after the US and UK. Surely digital India is on the rise.
With each passing day, the world is getting smaller, all thanks to the World Wide Web. It is bringing people closer from every corner of the world. Hence, companies now have the opportunity to sell and produce their goods/service in different parts of the world. In order for this to be beneficial, they need to engage with their existing and potential customers and make them stick.
Why Digital Marketing?
With the scale of operations that we are talking about, the traditional methods of marketing are of no good. The only option left then would be to use the digital media. Digital marketing, even though it started in the 1990s has picked up pace only since the last decade or so.
It has had a huge impact on not only marketing and advertising, but also research and analysis, consumer engagement, etc.
The advantages offered by DM are cost efficiency, immediate response, flexibility, accessibility, etc. Most importantly, it helps in creating an order out of the chaos created by all the data produced. Raw data is not of much use. Once it is transformed into information, it is data that sells.
Need evidence? This is how much these tech giants earn every minute from the data that is generated on their portal. If we are to talk about the scope of digital marketing, there is only one thing to say; it is the future.
As per a report, the number of mobile phone users in the world will increase up to 5.07 billion by 2019. In India even though DM is in its initial phase, most of the top brands have already rolled out their campaigns. There are more than 82 million monthly active Facebook users in India. At present, the industry is of a whopping %68 billion and this number is expected only to increase.
As per the Silicon republic analysis, the digital economy is growing 10 times faster than the traditional economy. More than 40% businesses depend on digital marketing. In the near future, almost 90% of Indian companies will be dependent on Digital marketing. 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.
Effect on Various Scale Industries:
The best part about this tool is it done not have a very high setup cost and the returns on investment are huge. Small and medium scale industries nowadays solely depend upon this medium in order to make their business tick. With so much expected growth, it is sure that the requirement for people to manage it will also increase. Hence, it is not only the companies, which are benefitting from this industry but also job seekers.
As of 14th August 2017, the job search website Naukri.com had a staggering 1.5 lakh jobs to offer in this sector. The demand for digital marketing professionals is expected to increase by 38%. Just to give you a glimpse as to what this industry can offer, here is a list of jobs which you can apply for if you are interested in the field:
Digital Marketing Manager, Inbound Marketing Manager, Content writer, Social Media Marketing Expert, Conversion Rate Optimizer, SEO Executive, etc. Big data means big opportunities for everyone.
In today’s age, Digital Marketing is the most ensured way for a business to get result; and DM is the tool which creates chaos, but also provides opportunities to turn it into order.
Hence, with the future lurking bright ahead of us, DM is the way to go, for business houses and job seekers alike. As far as the future is concerned, as long as you are talking about economy and its connectivity, this modern method of marketing is the answer.