At Present, the total digital advertising industry is 8200 crores in India and is expected to touch 19000 crores approx by 2020 at a growth of 32-33%. This indicates the kind of time people are spending on the internet and which is why brands are choosing to spend so much on the digital media.
The Current Scenario
Let us spend a minute thinking, how digital media is revolutionizing our lives on a day to day basis.
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When was the last time, you stood in the queue to book a movie ticket, or went to the airport, to buy an airplane ticket or a railway station for a train ticket? How many times do you log on to your Facebook and Instagram every day in order to connect with your friends? Whatsapp is becoming the most common medium of communication. Is the music on your phone playing through an app? Do you watch movies and serials online? Are you hooked to YouTube, Netflix and Amazon Prime? Didn’t you just use an app to manage your diet and weight? Is the calendar reminding you of all birthdays and anniversaries? You made notes on your phone, during that important business meeting, didn’t you? You paid your insurance premium online, isn’t it? Did you use PayTm to transfer money to a friend? Are you printing photos, or rather buying cloud space to store them?
Woof! These are just a few things that we all do on a usual day, forget alone the specialized uses.
So when everything is going digital, it’s obvious that the demand for digitally related jobs is today much higher than the other jobs.
Industry Reports
In India, Digital Marketing started to get noticed in 2010 with the e-commerce brands like Flipkart and Snapdeal entering the arena. In these past 7-8 years, the digital market has seen a rapid growth between 25-40% per annum.
Social Beat, one of India’s leading digital marketing solutions company, released its Digital Marketing Industry Report 2018 after the first edition, Digital Marketing Industry Report 2016. The second edition of this annual report provides a comprehensive look into how companies today are using digital marketing to promote their brands. 212 CMOs, CXOs and Brand Custodians across a variety of industries in India participated in this survey over a period of one month. The various industries that were covered in this survey included Startups/Apps (16%), Real Estate (14%), Education (12%), Media/Entertainment (12%), E-Commerce (9%), Retail/FMCG (7%), Healthcare (6%) and Travel (2%). The remaining 22% comprised of industries falling beyond these 8 sectors.
The survey revealed the growing influence of digital marketing, with 68% of brands currently using digital marketing in their promotional strategies, while less than 9% use print ads, radio, and television. Commenting on the findings of the report, Vikas Chawla, Co-Founder of Social Beat said, “One of the most significant insights gained from this report is that brands across all industries are beginning to use more of digital strategies in their overall marketing efforts, as compared to traditional media. This is very encouraging because it means that the use of digital marketing is going to become increasingly important for brands.”
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Along with the increased use of digital marketing, brands are also beginning to allocate larger portions of their overall marketing budgets for digital. While 57% of brands surveyed spend less than Rs. 50,000 per month on digital marketing, as many as 21% spend between Rs. 50,000-2 lakhs per month. Additionally, 33% of brands allocate more than 40% of their total marketing budget for digital marketing alone.
Some key highlights related to brands and digital marketing
- 68% of brands leverage digital marketing to promote their products and services
- 42% of brands continue to use social media marketing as their primary form of digital marketing
- 33% of brands allocate over 40% of their marketing budget for digital
- 40% of brands say lead generation is their primary objective behind digital marketing
Prime reasons why brands are choosing digital marketing
- Cheaper than the traditional media
- Faster and wider reach
- Filtered TG options
- Instant interactions with the audience and quick feedback on the campaign
- More tangible results
- Easier to change the strategy, in case of not meeting the desired results
The Professional Shift
All the reasons mentioned above indicate why professionals are today choosing the digital field in place of other job opportunities. Here are the top 4 reasons why digital jobs are better in today’s time and why are professionals making the big shift?
A job in demand
Unlike some of the other professional jobs, today there is no dearth of digital jobs available. There are about 150,000 jobs predicted by the year 2020 and still not enough digital professionals to fill them. So its just wise if you are prepping towards this direction or even planning a switch.
Huge Scope
Within the digital space, there is a lot to choose from as per your interests, whether you like content writing, or you have skills to develop an app, whether you can plan brand strategies or edit videos, the options in digital space are endless today. In fact its one big world, where one can see an amalgamation of talent being consumed.
More Paying
Just as mentioned above, since the demand for digitally smart people is more and supply is less, these jobs as of now are high paying as compared to other segments. Even the freshers and those with a little experience end up earning more than their peer circle into different professions.
Freelancing
The digital world is the most accepting when it comes to freelancing. You can be your own boss and yet earn handsomely. Since digital work more often than not involves working just with your laptop, internet, and phone, remote working is always an option.
Have you observed this shift? Do share your view points with us.
