Have you also felt the brunt of the irreversible damage done by this vicious pandemic? COVID-19 has not just killed people but has also caused massive destruction in the way our life functions. However, we have managed to come around with these new emerging trends in the digital marketing industry. Following are the Top 7 Emerging Trends in Digital Marketing Post COVID-19
1. India, The Outsourcing Hub
We are all aware that India is a major service industry and MNCs around the world outsource their tasks to India. The Indian labour is not just affordable but also highly talented. We know that BPOs and KPOs outsource their work to India, but now, even digital marketing jobs will be outsourced to India as companies around the world believe that the Indian youth is highly proficient with their digital marketing skills.
2. Digital Marketing as a Profession
With the growing need for digital marketing services as companies have now learnt that their customers have now moved their eye-balls onto their electronic devices, the demand for digital marketers has increased substantially. There are numerous things an aspirant can master in the digital marketing world and companies are willing to pay handsome salaries too for a deserving candidate.
3. Out with the Traditional in with the New
Gone are the days when you would see print media in all its glory. The customers have shifted their focus and so have the companies. Adding to this, it’s not just about the placement of the advertisements but also the statistics. A newspaper advertisement will not give you any statistics with regards to what group was being targeted, what is their age group, are keen on buying your product or services, what are their interest groups and so on and so forth. Digital marketing gives you each and every statistic to the last penny spent on your advertisement. You can choose your target audience basis their preferences and the likelihood of them clicking through your advertisement and making a purchase. Because as we all know, the end goal of an advertising campaign is to nudge the customer to buy.
4. Micro and Medium Brands will Flourish Together
With the ever-growing economy, there will be a need for alliances to sustain and grow in this competitive market. The giants can easily survive with the help of surplus cash and their long-term relationship with their existing clients. It is the small and medium enterprises that will collaborate and help each other grow. They can capitalize on each-others strengths and build a strong brand for themselves.
5. OTT is The New Theatre
You’d already know this that people consume a lot of content on the OTT platforms. We all prefer the comfort of our houses with the luxury of watching whichever movie or series that we please rather than travel to the movie theatre in the unbearable traffic to watch a movie that is pre-decided for you, and the over-priced popcorns, God have mercy. Now people, more than ever have started subscribing to OTT platforms and watching the content of their choice be it domestic or international. The number of subscribers has grown substantially and it is estimated to grow at a fast pace.
6. Every Penny Counts
Earlier, firms would pay a substantial amount of fees for traditional marketing methods to display their brand to their potential audience. The problem was, that no one knew how much potential the individual had who was seeing the advertisement for him to go and make a purchase. Organizations in the past have ended up paying millions of dollars in advertisement unbeknownst of whether or not the advertisement was effective or not, or if it reached the target audience.
All they knew was that the potential buyer of the XYZ brand lives in the ABC area and it would be apt for the brand to display advertisements there. Did it work? Not always. Did it show the return on investment for the amount spent on that advertisement? Never.
Hence, the organizations have moved towards digital marketing as this is where you can decide how much you want to spend per view or per conversion and who all should your advertisement must be displayed to and how many times. You get a detailed report about every penny spent and it also tells you how can you improve your advertisements to make it more effective.
7. Improvement in The Related Streams
With the surge in the digital marketing industry, the adjacent streams will also get an uplift and will have to upgrade their technology as and when the need arises. Technologies like Artificial Intelligence and Virtual Reality will soon be widely used. Data Analytics is another technology that will witness a rise in demand as there will be a lot of data generated on a daily basis from which one has to derive conclusions for a better campaign.
Businesses are now steadily stabilizing and are gaining traction back in the market. Businesses have not changed, the way of conducting business has changed. And with this emerging trend, one must dive headfirst to get a first movers’ advantage in order to rule in their respective segments in years to come.