Technology enabled human ingenuity to flourish progress and execute things that have been envisioned by humans themselves. It is almost surreal to step back and ponder over those days where we embraced every opportunity and turned into something that would advance our standard of living and make a place worth existing.
Digital India Initiative
- Digital India would not have been possible without mobile technology. In 1994 India came up with Cellular Technology to being telecommunications to people which looked like a desk phone. That time it was voice dominated, quite expensive and limited. Indian operators valued technology, which could give them superior coverage, excellent voice quality and efficient use of spectrum and then emerged “One Nation One Rupee”project which radically decreased the cost of connectivity. According to 2014 statistics, India has 120 million mobile broadband users which would increase to 600 million in 2020. It is also anticipated that the market growth will extend from 82 million units of smart phones in 2014 to 252 million units in 2020 which can create an ample number of economic opportunities for companies both inside and outside of India. As a result of which India is now the second largest Telecom market in Asia.
- The significant motive behind this campaign has many initiatives but the foundation of this program is cloud computing and connectivity. The interaction between business and customers, school and its students, government and its citizens is what is going to drive towards the success of digital marketing. To have an impact on business sectors, public sectors must deliver highly customized, personalized engaging experiences to every citizen and understand what each citizen wants to accomplish. In order to make this program powerful, citizens everywhere need easy access to information, a distinct understanding of their rights and responsibilities and the ability to transact easily with every form of government.
- Digital India Initiative also focuses on e governance for the proper and diligent functioning of government using ITto improve various transactions like online applications and tracking, electronic databases and public grievance redressal where the citizens can complain about any issue or problem to this forum.
- Recently e-governance is changed to m-governance where there is a particular mobile app to connect with people and set them free from any sort of paper documents.
- Ensure that wifi hotspots are expanding not only in the airport but also at least in 500 railway stations with Google.
- Promised to install 10 indie languages to push digital literacy forward to aid the farmers with online facilities to make their life less vulnerable.
- Under eKranti electronicdelivery of services comes e justice where the president has stressed on the implementation of e courts for the speedy delivery of justice. Indian Judiciary had not been able to meet the aspirations of the people in respect of justice and the whole process is time-consuming, thus e courts are connected to all police stations, forensics, prisons and everything will be done online which includes payment of fees.
The Current Scenario of Digital Market
Digital Market turned out to be the most booming industry in India currently with 34% of the companies already having a coherent digital marketing strategy in 2016and 72% marketers think that traditional approach of marketing is no longer adequate and this digital marketing approach would definitely increase the company’s revenue. From purchasing groceries clothes to payday loan services, we have access to the internet, making this industry extremely transparent.
While the other industries are scuffling with a growth rate of 5 to 10 %, the digital market is booming high with 40% growth rate and it is anticipated that this rate would be stagnant for few years as this industry is extremely on demand. Currently, thedigital media advertising is the new emerging market; it is expected to grow at a 37% CAGR (Compound Annual Growth Rate)the display, video and social media ads are having the highest CAGR according to Digital Add Report, 2016
- Display Advertising– It’s a paid online and where the customer by clicking on a particular image or photo can lead to the corresponding landing page. It’s an effective medium for brand promotion and awareness, engagement etc. According to Digital Add Report 2016, display ads shall grow with a CAGR of 43% to reach 24% of the total digital media.
- Video Advertising – In our generation, we are watching videos online especially through mobile phones because of our fast internet service ( 3G, 4G). If we want to record a karaoke in the Smule app, different advertisements appear before the recording actually starts and we sometimes cannot avail the option to skip it, same goes with YouTube. Thus, we are bound to watch that particular ad and sometimes it might be of our interest. Video ads will grow from a current share of 18% to reach an estimated growth rate of 40% CAGR.
- Social Media Marketing– It is the most hyped platform for interaction through social networks, social sharing tool, blogging and other forums. 60% of Indians are more active on social media than on their personal emails where 1/4th of the Indians could recall brands that involved social media. According to the same report, social media will grow at 39% CAGR to reach 30% of spends share in 2020.
Scope in the Digital market arena
- Larger Target Audience:With millions of people using smart phones and actively participating on social media platforms like Facebook, Instagram, Twitter etc, thus extending the ambit of the large target audience with customized information about their professional, educational and personal details.
- More Job Opportunities: Employment will eventually increase in this Digital era. Job roles like digital marketing strategist, digital marketing executive, SEO analyst, social media specialist, email marketing specialist, web analyst etc. Even one can be a YouTuber, keeping in mind the content and the type of work one publishes, depending on the number of views and subscribers, one can earn money through YouTube monetisation.
- Increase Presence (SEO):Search Engine Optimization is a quite an effective marketing technique to create an impact online without paying high remuneration to the media advertisers to be in the higher pages of search engines. With paid search in the form of Pay-Per-Click, Cost Per Click or Cost Per Impression one’s add appears when anyone looks for their services or products on Google or any other search engine. SEO helps any online business to increase their sales and revenues.
- Business Opportunity:digital marketing increases business opportunity as in this digital era there are numerous business concept is coming out when you search for Google about online business ideas you will get thousand of easy business model which can be started digitally online with a website, for example, you can start eBook selling website, tutorial selling blog and lead selling business as well as other many services which is all online. You no need to open a store physically.
- Personal Branding & Networking: using digital media many became the star and many musicians become popular only using a digital medium such as YouTube and Facebook. So if you want to create your authority online and reputation in your industry you need to learn and utilize digital marketing concept.
Conclusion: There are various other factors that definitely assure us that Digital market is definitely a boon in India irrespective of the other drawbacks like the illiteracy level, for that government is trying it’s best to prosper and leave no stone unturned.
Disclaimer: feature image credit: http://digitalindia.gov.in/