I hope you remember the last decade and the great global recession it went through. It became tough for various industries to survive however things were quite different with the IT industry as the growth rate that it exhibited during this period is highest up till date, especially in mid of the decade.
What made IT industry to grow exponentially in the last decade?
IT industry in India had anyway started flourishing well however, the global problems like the Y2K, the dotcom crash, and recession in the US economy, laid a path for an ultimate growth of Indian IT industry.
When on the one hand, the Y2K problem demanded the existing softwares to be compatible to the year 2000, there was a shortage of US based programmers on the other hand during this period. The situation resulted in many mid sized firms to outsource the services from Indian firms, which eventually placed the Indian IT on the global map. The industry exhibited a robust growth rate in the mid of last decade because of the augmentation in the number of clients, large sized contracts and a string global delivery model.
Digital marketing in this decade
What’s making digital marketing to grow exponentially in this decade?
It is expected from the emerging trends in the world that digital marketing industry will flourish in India like the way IT industry did last decade. However, before we go ahead with anything else, let’s have a quick look to these stats accounting for the increasing growth of digital marketing in India:
• An estimated internet user in the US currently is 207 million while that of China is 300 million and India is 205 million. According to a recent report , it is estimated that there will around 243 million internet users in the India by June 2014, leaving behind the US as the world’s second largest internet base after China.
• India has 110 million mobile internet users of which 25 million are in rural India.
• 70% of rural India’s active internet population accesses the web via mobile phones.
• As per a recent study, although internet penetration in India is yet to cross 16% of the population, however in absolute numbers this percentage works out to nearly 10 times the population of Australia.
• India with more than 82 million monthly active Facebook users, spots the third position in the world after the US and Canada and it is expected that that the country will have the world’s largest Facebook population by 2016.
“The emerging trends among the people reveal that how crucial it has become for marketers to go digital and why digital marketing is bound to grow potentially.”[useful_banner_manager banners=25 count=1]
Marketing is crucial for your business and if times are tough it remains crucial for you! Whether the economy is going through recession or booming high, you cannot run your business successfully without marketing. You of course have an option to change the way you market your business.
Just now we discussed about how crucial it has become for marketers to go digital, but then the best thing is this compulsion is better than anything else, for it is anyway proffering some ultimate advantages which other forms of marketing would never.
Let’s have a sneak peek to a few factors as to why digital marketing is preferred over other forms of marketing:
• It is far more cost effective yet very impactful
• It is not interruptive for customers
• It is measurable at its every part
• It provides you with audience segmentation and specific targeting ability
• It is available 24*7 365 days an year
• It helps you track and monitor everything
• Being interactive in design digital marketing lets the customer to interact and get engaged.
• It gives you wide reach defying all geographical constraints.
“Digital marketing is helpful and un-interruptive so it is celebrated, it is celebrated, so it is growing high, it is growing high, and so it will flourish more.”
The Bottom Line
Digital marketing industry will of course flourish in India as once IT industry did but the growth will not be temporary as it’s not the result of any global crisis but is happening because even people in India are getting more and more inclined towards it with the preceding time. So, it is not just the outsiders outsourcing digital marketing, but the requirement for it in India is booming high as well.
Learn from real practitioners not just trainers.