Written by Neil Dodhia, Faculty of Digital Marketing & Metrics at SP Jain School of Global Management.
Online marketing has changed the scenario of marketing globally. While digital ads gained traction only in the 2000’s, we have already reached a stage where internet advertisements will overtake traditional TV in the next three years. Furthermore, the amount spent on Internet Ads is already more than Television in several countries like Australia, Canada, Denmark, the Netherlands, Norway, Sweden and the UK.
Considering the case of India, the overall ad-spends have gone up to a whopping INR 61,204 crores in 2017! Digital is the third highest category of advertising spends today, only behind TV & print. Online retail consumers touched 100 million in 2017! In 2016, digital marketing spends in India accounted to 12% of the overall ads spends pan India, while 2017 sees a 47% growth – a year-on-year growth that is seen in no other paid media. The Online retail customers have touched 100 million this year. Video advertising will be the key driver in terms of form of ads and e-wallets will also fuel the growth story of digital in India. With great connectivity, cheaper data and handsets and in the world of apps – mobile will consume 70% of media spends.
The stats prove that internet paid marketing is booming at rocket pace. How does this help the digital marketer? It helps them be the ones who reap maximum benefits. Unlike print and TV, digital marketing is very new to the world and hence, we only have a few experts in the field, bringing into effect the simple law of demand and supply. If a digital marketer is able to crack the paid marketing game, then sky is the limit.
The beauty of internet ads is – targeting, budgets and results! Can you do a TVC with a budget of Rs.1000? No. Can you target only women between the age of 18-27 staying in Bandra for a newspaper ad? No. Can you have a billboard where people can directly make a purchase? No. All of these scenarios are very much possible in internet paid media. You can run ads with a minimum budget of 1 USD, target to extreme levels and yield immediate results with options like ‘Shop Now’ or lead generation. No minimum budgets, extreme targeting and result orientated ads are a lethal combination for a brand/business – if done in a right way, it will yield good results. And if the digital marketer is able to do this for all their clients, the budget that gets allocated to Digital Marketing paid ads increases.
To sum up everything, trends are in favour of digital ad spends. The digital marketing enthusiast is the pilot and if the job is done right, sky is the limit.
About the Author: Neil Dodhia
Neil Dodhia (CEO – Firefly Daily) stepped into the world of digital in back in 2010. With over 7 years of work experience working for various ad agencies and brands including Rediffusion Y&R, Pinstorm, and Carwale, he is currently the founder of a content and marketing start-up – Firefly Daily. Neil, along with Firefly Daily, has served top clients like Tata Group, Audi, Skoda, Taj Hotels, and Inorbit.