Scope and value of digital marketing in India

 

If your business isn't yet aware of digital marketing, then you are living under a rock. According to statistics, digital marketing is going to be worth $160 billion by 2025. With such a staggering value, you might be wondering what's so special about this field? Well, we are here to answer that. If you are already curious, keep reading to know how digital marketing can change the entire game of a business.

 

What is digital marketing?

 

Before diving into the values, you need to be clear about the idea of digital marketing. So, what is digital marketing? It is the promotion of a business or services via the digital platforms. Let's say you run a clothing shop. Now, if you want more people to know about it and increase your sales, you need to announce your business online.

To increase your online presence, you can hire a digital marketing agency that will see to your online agenda. The agency will create social media posts, run campaigns and promote your shop on online sites.

How much is digital marketing worth?

 

Just like we said, digital marketing is a booming industry in the world. To specify, let's look at the value of digital marketing in India.

 

●     It is estimated that by 2023, there will be more than 666 million internet users in India.

 

●     The COVID crisis has seen a 11% rise in internet consumption. If the same frequency of internet usage continues, digital marketing will be worth at least 7 trillion INR by 2023.

●     Digital agencies will experience a growth of 10.5% by the year 2021.

 

●     As of 2019, Indian companies spent $3283 million on social media ads alone.

 

We don't have to say much. These figures speak for themselves. Value of digital marketing in India has rapidly increased in the past decade and it isn't going to stop any time soon. If you wish to start a career in online marketing, now is the perfect time to hone your skills.

 

Online Value Proposition(OVP)

OVPs are basically strategies that provide value to your business. Confused? Let us explain. Every person opens a website in search answers to their questions. When you go to a website, you will want to know the reason why you are there. OVPs provide the  answer to 'why'. When a seller asks you to buy a product, you will always ask 'why' do you want that product. 'What is it that makes the product so special?'

 

Online Value Proposition of digital marketing is needed to grab the attention of your customers. You need to convince them 'why is your business different from others?'

To do so, here's what you need to do.

 

●     Clearly outline the motto of your business to the viewers.

 

●     Show how your customers will benefit from your services.

 

●     Define how your business will progress and what it will look like in the future.

 

●     Outline how your business is the one stop solution for every requirement of your customers.

 

With these strategies, you can create a large customer base and propel your business to success.

 

Value chains

 Before launching any product, you need to -

 ●     create the blueprint

●     go through the making process

●     ensure the quality and then release it in the market.

 

Similarly, when you opt to run a digital campaign, you have to create the strategy for an effective online engagement. This is known as the value chain of digital marketing. The value chains set apart one marketing agency from the other. It is what enables an agency to convert their marketing ideas into action.

 

The better the value chain of digital marketing, the better will be the growth of a business. Effective planning can reduce the expenditure while attracting a greater audience.

 

 

The online world is ever changing and ever evolving. From 'what is digital marketing?', we have now moved to 'how to build a career in digital marketing?'.

As long as technology survives, the  value of digital marketing in India and across the world, will continue to rise.

For more information, please visit our website -  https://aspiremarketers.com/

Reference links-

●     https://www.google.com/amp/s/www.smartinsights.com/digital-marketing-strategy/online-value-proposition/online-value-proposition/amp/

●     https://iide.co/blog/scope-of-digital-marketing/

●     https://digitalschoolofmarketing.co.za/blog/what-is-the-value-chain-in-digital-marketing/