Social Media has become the highlight for marketers using Digital Media. While TV took 13 years to reach 50 million users, it has taken the Internet only 4 years.
Everyone is talking about Digital Marketing these days. Politicians, marketers, actors, brands, agencies, the list can go on. Brands are waking up and wondering how to integrate this new medium in to their marketing plans. Agencies are working out innovative way to engage customers. It’s the hot new topic & everyone is wondering how to get a piece of this pie. So what is Digital Marketing? Wikipedia defines it as ‘the promoting of brands using the Internet, mobile and other interactive channels.’ It encompasses providing any kind of brand solution on the Internet. This could be anything from developing a website, to creating an online banner campaign, search marketing or social media. Brands are increasingly using social media sites such as Facebook and Twitter to engage their audiences with their brands. In fact, social media has become the highlight for marketers using Digital Media.
According to Eric Qualman, the author of Socialnomics, social media is not a fad. It is a fundamental way in which we communicate. His book highlights some interesting facts:
- Social Media has overtaken porn as the number one activity on the web.
- Research shows that it had taken TV 13 years to reach 50 million users, whereas it has taken the Internet only four years!
- Facebook added 100 million users in less than nine months.
- If Facebook were a country, it would be the worlds 4th largest.
- 34% of bloggers post opinions about brands and services.
- 78% of consumers trust peer recommendations. Only 14% trust advertisements.
In India as well, Internet usage is no longer niche. Internet penetration has increased from 16 million users in 2004 to 81 million users now. This is a staggering figure. The business of Internet advertising is also growing at a very rapid pace. According to reports by PricewaterhouseCooopers and The Indian Entertainment & Media Outlook 2009, overall global spending on Internet advertising will increase to $87 billion in 2013, growing at a 7.7% compound annual rate from $60 billion in 2008. And Internet advertising will account for 89% of the overall market in 2013. In India, the highest growth in the Entertainment & Media Industry was recorded by Internet advertising, growing by 69.9% over the period 2004-08 and 85.2% from 2007. Internet advertising is projected to reach an estimated Rs.20 billion in 2013 from the Rs.5 billion in 2008. These figures really demonstrate the strength of the industry. This dramatic growth has also led to a shortfall of trained media professionals to keep up with the demand of the industry. There is just not enough talent. Moreover, there are limited, if any, structured programs to get a comprehensive induction and training in Digital Media.
Everyone is talking about Digital Marketing these days. Politicians, marketers, actors, brands, agencies, the list can go on. Brands are waking up and wondering how to integrate this new medium in to their marketing plans. Agencies are working out innovative way to engage customers. It’s the hot new topic & everyone is wondering how to get a piece of this pie. So what is Digital Marketing? Wikipedia defines it as ‘the promoting of brands using the Internet, mobile and other interactive channels.’ It encompasses providing any kind of brand solution on the Internet. This could be anything from developing a website, to creating an online banner campaign, search marketing or social media. Brands are increasingly using social media sites such as Facebook and Twitter to engage their audiences with their brands. In fact, social media has become the highlight for marketers using Digital Media.
According to Eric Qualman, the author of Socialnomics, social media is not a fad. It is a fundamental way in which we communicate. His book highlights some interesting facts:
- Social Media has overtaken porn as the number one activity on the web.
- Research shows that it had taken TV 13 years to reach 50 million users, whereas it has taken the Internet only four years!
- Facebook added 100 million users in less than nine months.
- If Facebook were a country, it would be the worlds 4th largest.
- 34% of bloggers post opinions about brands and services.
- 78% of consumers trust peer recommendations. Only 14% trust advertisements.
In India as well, Internet usage is no longer niche. Internet penetration has increased from 16 million users in 2004 to 81 million users now. This is a staggering figure. The business of Internet advertising is also growing at a very rapid pace. According to reports by PricewaterhouseCooopers and The Indian Entertainment & Media Outlook 2009, overall global spending on Internet advertising will increase to $87 billion in 2013, growing at a 7.7% compound annual rate from $60 billion in 2008. And Internet advertising will account for 89% of the overall market in 2013. In India, the highest growth in the Entertainment & Media Industry was recorded by Internet advertising, growing by 69.9% over the period 2004-08 and 85.2% from 2007. Internet advertising is projected to reach an estimated Rs.20 billion in 2013 from the Rs.5 billion in 2008. These figures really demonstrate the strength of the industry. This dramatic growth has also led to a shortfall of trained media professionals to keep up with the demand of the industry. There is just not enough talent. Moreover, there are limited, if any, structured programs to get a comprehensive induction and training in Digital Media.
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Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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