Leveraging the power of Digital Marketing in the Indian landscape
The phenomenal success of Flipkart has re-written the history of marketing in India. While many small operations wrapped up or merged to offset losses from digital competition, savvy marketers and companies extended their operations to digital marketing for remarkable success. The core competency of the digital marketing model has set off another trend in India - that of the pure-play digital marketers, as in the latest entrant healthiza.com. Increased investments in tie-ups and expansions across the B2B digital marketing landscape mark the latest trends in 2014.
India offers a distinctive advantage for digital marketing programs - the reason why retail, sharing economy and luxury sectors are turning to digital marketing as, part of the consolidated marketing operations or a stand-alone digital platform.
So what is digital marketing? Essentially, it is just that, a mode of marketing making use of myriad channels in the digital space to help businesses analyze what works and what doesn’t in real-time.
India - a thriving location
Let’s examine some India stats to understand why India makes for a great place to begin with for your plans in digital marketing.
It is well known that India has the second largest consumer base in the world. What is more significant is the penetration of internet and cell phone usage coupled, with fast-rising disposable incomes. Mobile phone penetration stands at 1.75 billion as in 2014, with smartphone users on a steep rise. Access to internet, in both urban and rural areas has risen remarkably. The prolific use of social media is also evident from the advertising spends of USD 5 billion (Rs 2938 crores) in 2013-14, expected to grow further by 32 % over this year. The age group of 13-24 yrs, a powerful decision making space, accounts for 62 % of Facebook users. Is it any wonder that businesses are launching plans on how to capture this growing segment of digital user groups?
Why Digital marketing is important for your business
It is a digital era where social media, internet and mobile phones have influenced consumer behavior remarkably. This has impacted the way businesses are done. Marketing dynamics have changed calling for a dire need to connect the dots across the organization. Moreover marketing across the digital space is far more economical that traditional marketing. Managing customer relationships across both traditional and digital channels, extracting value from the exploding data volumes and engaging in conversations measure the true value and ROMI.
Keys to Achieving Digital Marketing success
- A seamless integration across various digital channels – social media like Facebook and Twitter, digital footprints of consumers, conversations on forums – to extract value for decisions.
- Tracking consumer behavior in real-time for response, initiation and engagement.
- Focusing on well designed content and campaigns in the digital space for wider outreach, like popular touchpoints like Facebook where a large fan base reaps dividends, or newsletter signups.
- Leveraging mobile marketing - engaging with customers through mobile devices and apps.
- Focusing on regional social space (for instance, Tamil or Hindi sites) to tap emerging markets and increase audience engagement, through dialect-driven campaigns.
- Optimizing the digital marketing mix and analyzing the same - data mining, social media analytics, sentiment analysis, text mining.
- Using a data-driven approach for maximizing impact and maintaining a sustained digital presence
- Strategizing tools and applications across mobile and social technologies – discounts, customized offers, location-driven services, etc.
- Channel-wise measuring against past performance for improvising retention programs
- Optimizing digital spend by tracking and measuring ROI
- Driving innovations to address fragemented customer needs and quickly adapat to changing business dynamics
Solutions like the SIBIA MaxPromo platform can help you empower your digital marketing plans. Apart from performance reports, dashboards and scorecards, it leverages a tool for future promotions planning and to predict the ROI across the web assets.
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