(Full interview: https://youtu.be/e1fWrpLOI7E)
“The brands that can connect with the client in a real way will win” – Gary Vaynerchuk
Digital Marketing took India by the storm when over 800K jobs opportunities were created just in the first quarter of 2017. Digital Marketing industry is worth $68 billion and is growing at a 40% growth rate. With the increase in internet users and organizations promoting their content through social media, the job roles and options are only going to advance. 40% of businesses today depend entirely on digital marketing and it is estimated that more than 90% of businesses will go digital in the near future.
In the fourth episode of TuriyaTalks Season 3, we had an opportunity to discuss the theme “Digital marketing: The New Future” with our Guest of Honour Mr. Pranav Kotak, the founder of Digital Consulting Pandit. The interview, hosted by Sandhya Sutodia, encompassed paramount analysis of digital marketing in Indian context and its relevance in the current scenario of job market in the ongoing COVID-19 pandemic.
Some insights incorporated from the interview are as follows:
The initial investment required for setting up digital marketing is very low as compared to traditional forms, thus making it viable for small businesses and start-ups with limited budget to utilise its potential to attract customers.
With the acceptance of digital media as an important tool for business growth at an escalating figure, a substantial rate of jobs is expected to be created in the field of digital marketing.
Google ads is one of the most important aspect of digital marketing, especially for promotion of businesses attempting to be acquisitive in market share by increasing their number of website visits and user conversions.
Search Engine Optimisation, though a useful tool in achieving higher ranking of an website, is time-consuming and laborious, especially for situations such as a music event which requires swift website visits and user conversion.
Business owners need to embrace the advantages of social media in terms of consumer reach and targeting defined audience and learn the utilization of social media marketing to grow their business and outreach.
Paid social media advertising is more preferable as compared to organic reach due to the reliability of algorithm of social media platforms such as Facebook to reach target audience which is tough for an individual to do it so precisely.
B2B industry profits are usually recurring in nature based on the ratings of their previous projects. Thus, such businesses will have a higher Return on Investment (ROI) for digital marketing to get contracts during initial stages and later their portfolio could be utilised for getting work in future.
Digital marketing strategy should be done on a long term basis to achieve outstanding results and consumer outreach.
Mr. Pranav concluded with the consensus that the current situation of COVID-19 pandemic has created a potential situation for digital marketing as very high number of people have started spending money on services that they cannot feel, touch, see.