Emerging Trends In Online Advertising Domain In India
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India is on its route to become the fastest emerging nation towards digital economy, accelerated with the demonetization move by the Government of India in 2016.
Mobile Will Dominate As An Advertising Platform
We also hold pride in being the first nation with more than 300 million mobile phone users. Clearly, online advertisers cannot afford to lose sight of such a valuable ally.
With online advertising on mobile phones, the aim is to not only need create content for mobiles but also power the platform of future.
The dropping of data prices steeply due to intense competition plays an important role here, triggered by the entry of aggressive players like Reliance Jio and other incumbent players like Airtel, Idea and Vodafone who had to match the offers made by the new entrant to protect their market shares and provide a heart fight.
Incidentally, majority of the telecom players still consider Indian market as one mobile service are most affordable for consumers and margins of telecom players are likely to remain under pressure. So, online advertising in the mobile medium holds great potential.
Apps And Online Presence Are Must
With plethora of companies basing their operations on solely app module and the scurry of options for mobile payments and apps, digital market requires a surge of digital promotion and marketing strategies.
Presently, an Indian consumer spends more time on social media and internet surfing than on TV. Thus, the visibility of any product is more through digital medium than traditional marketing techniques.
There is a case for advertising shifting to online platforms, keeping social media in tune with current advancements.
This result to some decrease in the share of advertising spends for conventional TV, affecting the expansion of the market where television and online advertising co exist.
Having said that, it is important to highlight that online presence is no more an option for anyone, but a compulsion to a larger extent.
So, all those who are used to only advertising in conventional sense need to adapt to the online medium as well. Interestingly, internet does not discriminate between large of small or rich or poor companies and all of them have a fare and equal chance to create a buzz, using innovation in online medium. Therefore, online strategies of any business will be a crucial factor in the success of any organisation.
Social Media Is Important
Ad spending in India is growing by more than 15.5% year on year and with this recent move from the government and accessibility to internet, we have a customer base to reach.
The consumers are constantly looking and searching more on internet to find the best deal from different sellers and websites around India.
Today we all are interconnected through Whatsapp and Facebook and the increasing use of social media is creating new opportunities for digital marketers to attract the customers through digital platform.
Digital marketing is a cost effective way to gain more customers with the accessibly to track and target the precise audience to have a great commercial impact on the business. Since, online advertising has an edge over conventional advertising as it is more targeted and economical in the coming times online ad spends will grow faster than they are likely for the conventional modes of advertising.
Integration Of Online Ad With Emerging Technologies
Apart from these, a lot of technological advancements and developments are also impacting online advertising directly or indirectly. These include — Big Data Analytics, Artificial Intelligence, augmented reality, internet of things, virtual reality, Chat bots, proliferation of gaming and live streaming of media.
All these factors in some way or the other are changing the way content is created and used on internet. Obviously, all of them have their own bearing on the way advertising is done online. Future networks will have to be designed keeping in mind all these technologies and their impact on online promotion. Depending on the shape that internet based networks take a few of these technologies could become very important and one might have to keep in mind them and make a separate strategy for them.
In conclusion, one can say that online ad spend is likely to grow in leaps and bounds in times to come. Various facets of online advertising and emerging technologies will have to work in tandem to get the best mileage for new age businesses.