How Digital Marketing is bringing a change in the market?

From being just a random trend to becoming an integral part of business strategies, digital marketing has rapidly evolved over time. Today you will find everything in digital form, starting from health, entertainment, and real estate to currencies. And to keep up with the on-going change even the brands are shifting to online to market their business. Some recent studies even suggest that today there are around 3.3 billion people who are active social media users. And around 24% of the 5,700 global marketers claim that social media has become an important part of marketing a business.

To understand the cause behind it, in this article we will explore how digital marketing is bringing a change in the market.

The Ubiquity of Mobile Phones:

The revolution of digital marketing owes its major success to the widespread usage of mobile phones. They are tending to become the backbone of digital marketing and here’s why:

• Quality and Affordable Phones: The phone market has seen remarkable growth over the years. According to Statista, in the year 2021, India accounted for over 16% of global smartphone shipments, making it the second-largest smartphone market in the world.
• Multifunctional Phones: Today phones are no longer just a device through which people can communicate with each other. With a phone, you can do anything – be it watching a movie, studying or wanting to buy or sell.
• Cheap Internet: One of the major reasons why digital marketing is able to take such a positive boom is due to the easy and affordable access to the Internet. Today recharging data is a work of minutes and can be done from anywhere.

Enhanced and Efficient Reach for Brands:

As mentioned earlier, the drastic shift in digital marketing brands is shifting more towards the online platform to market their business. Some of the ways through which they are actively engaging with the customers are:

• Content creation that is cost-effective: Creating and publishing content in the digital space is cost-effective, if compared to the traditional print or display advertisements. This helps brands to focus on creating high-quality content for their customers like videos, blogs, etc.
• Fast and Wide Reach: Digital marketing plays a vital role for brands to disseminate information to a vast number of audiences. A study by McKinsey suggests that digital marketing can reach 20-50% more customers in comparison to traditional marketing channels.
• Precise Targeting: This is one of the major advantages of digital marketing as it has the ability to target a specific set of audience. Advertisers can use various demographic, geographic, and behavioural data to reach their ideal customers.

So these are some of the causes through which digital marketing is bringing a change in the market. The increasing prevalence of online consumer behaviour, the global reach, and the ability to engage with real-time analytics are helping businesses receive success in today’s modern market. Digital marketing is not just an option, it is slowly becoming a necessity for brands to thrive in this digital age.

The views and opinions published here belong to the author and do not necessarily reflect the views and opinions of the publisher.

Vinay Agarwal

Vinay Agarwal is working as Strategic Business Head with PromotEdge where his role is to analyse and improve the Financial, Marketing and other functions of the business. Previously, he has worked with two B2C Fashion brands (Simaaya & Swirl ) who wanted to shift their business line to Digital Platforms. He has helped them in building the overall team, Marketing Plan, and KPIs. Both brands are based out of Kolkata but have customers all over the world. Vinay is a graduate of St. Xavier’s College, Kolkata.