Digital Marketing News and Updates from the Economic Times
By Arijit Banerjee
To say that the digital marketing industry is a highly dynamic space would be an understatement. It is one of the few sectors where growth is marked by unparalleled rapidness. Given how frequently trends change here, a big part of pursuing a career in digital marketing entails staying up-to-date with what’s working and what’s not. If you truly want to understand how to do digital marketing, you’ve got to go above and beyond what the best digital marketing course can teach you.
To give you a sense of the transitions that have taken place in this industry in the recent past, we’ve rounded up some news and trend stories from The Economic Times – India’s leading business newspaper:
Short-form Videos are the Name of the Game
An article based on an interview with Justin Halim, who is the expert principal, Asia-Pacific (APAC) digital marketing at Bain & Company, suggests that short-form videos are the best way to capture the attention of a target audience essentially hooked to their mobile phones. With smartphone penetration expected to reach nearly 80 per cent by 2022, mobile video consumption is the hottest trend to watch out for. The key to how to do digital marketing right in this changing landscape is to focus on the execution of short-form videos and align the content with your marketing objectives, while remaining empathetic to the viewers’ behaviour.
Artificial Intelligence is the Future
In an article focusing on the future trends in digital marketing, The Economic Times quoted Tuhin Banik, a data scientist by profession who is pursuing a career in digital marketing as a professional consultant, as saying that AI had huge potential to advance digital marketing strategies, which can, in turn, result in quick turn over and can help build a 5x RoI model. This is, obviously, a huge profit margin for any business. AI tools such as Natural Language Processing, Information Retrieval and Semantic Search Engineering also have the potential to truly shake things up in SEO, which is a pivotal part of digital marketing.
SMEs Must Focus on Their Digital Journey
Ability to grab the market’s attention is the first requisite for selling any product or service successfully. This basic principle of marketing is even more relevant for SMEs and startups. An article on the dos and don’ts of SMEs digital marketing journey emphasizes on the importance of keeping customer experience at the heart of all marketing campaigns and invest in content strategy and creation. The demand for quality content is not going down any time soon, and SMEs should tap into this resource to earn customer engagement through regular, targeted and relevant content.
Big Brands Make Big Digital Marketing Overtures
Digital marketing isn’t just crucial for small businesses and startups, big businesses and MNCs too have a lot riding on the success of the virtual extension of their marketing initiatives. That’s why it is not uncommon to see big brand going all out to embrace or amp up digital marketing initiatives. Recently, Mahindra & Mahindra revealed that it had invested more than Rs 60 crore in its digital marketing initiatives at passenger vehicle showrooms over the course of three years.
Some months back, French multinational corporation Capgemini acquired digital agency, June 21, to expand its digital marketing initiatives on the home turf in France as well as the global markets.
A Bag of Contradictions
There is no denying that digital marketing is what makes businesses tick in the current milieu. However, if trends are to be believed a career in digital marketing will be all about striking a balance between contradictions, at least in 2019. On the one hand, you have AI and data science changing the rules of the game, and on the other, retro marketing strategies will once again begin to gain traction. At the same time, there will greater pressure on digital marketing professionals to abide by data privacy regulations and simpler metrics such as focus on customer engagement over lofty ones such as KPI regulations.
The bottom line is that there is no handbook that can give you precise answers on how to do digital marketing effectively. You must keep your skill set versatile and pull out different tools for different campaigns to be able to deliver successfully. The core principle, however, remains unchanged – focus on your target audience.