For the past decade, the world has revolved around technology, as rapid advancements and upgrades in the sector have been at the heart of all industries’ growth and innovation. The arrival of the Covid19 pandemic in the year 2020 has helped to emphasize the necessity for and accelerate the global activity of digitization.
The internet’s influence and adoption have not gone unnoticed in the realm of marketing, where digital marketing has become the norm. In the early stages of its existence, digital marketing was primarily used as an advertising function, with the primary goal of increasing brand visibility and awareness. However, as lead generation and sales have become one of its main objectives, it has grown into more of a sales function. Digital marketing initiatives are nowadays aimed at increasing the customer and brand image, which enhances the possibilities of achieving the desired results.
The digital marketing industry has experienced significant growth in recent years as a result of its numerous benefits, as evidenced by a Statista report that mentioned the value of the Indian digital marketing industry has increased from 47 billion INR in 2015 to a whopping 199 billion INR in 2020. According to the survey, the market is expected to maintain its fast growth rate and reach a worth of 539 billion INR by 2024.
A company functioning in a fast-growing industry must be informed and aware of all significant market trends to cope with market trends in a reasonable timeframe. To be able to get profit from market developments, a company must be well-versed in the current market dynamics. The following is a list of important trends that are likely to shape the digital marketing sector this year:
Hyperlocalization has become the norm
Preferences of customers have been fast altering in this era of broad technological invasion and globalization. This is because, as a result of these two causes, the number of options open to individuals has grown. As a result, there is an increasing need for marketers to go above and beyond to entice customers to their goods, which are still available in 2022.
Hyperlocalization is one tendency that has emerged as a result of this need. It is a relatively recent marketing strategy that aims to capitalize on the target area’s local culture and traditions to promote products. This is accomplished by aligning the product with the views and practices of the locals. Customers might create a conscious and subconscious emotional relationship with the brand and its goods as a result of this placement, which increases brand loyalty. As people get more familiar with and fond of the notion, this movement is projected to gain even more momentum in the coming years.
Efficiency is the king these days
People nowadays are all about speed. This, joined with their “do more with less” mindset, has resulted in a dramatic increase in the demand for efficiency in today’s world. Advertisements should be engaging and detailed to leave a lasting impression or even to attract a customer’s attention. Furthermore, the platform on which the advertising campaign is executed is crucial, since the visibility and focus of your target audience upon the platform determines the campaign’s level of success.
The role of technology is critical
In this era of automation and virtual reality. People’s attention spans are dwindling by the minute, so if an advertiser intends to captivate and attract a prospective buyer, he or she must engage them and offer as much information about the brand or services as possible in the shortest period. In this case, interactive and engaging content appears to be the greatest alternative because it allows the marketer to entice a customer with its appealing qualities.
Immersive technologies like Augmented Reality (AR), Mixed Reality (MR), or Virtual Reality (VR) are likely to be at the forefront of new digital marketing innovation because the fundamental purpose of digital marketing is to attract more customers. Additionally, automation is making its way into the workings of all businesses, such as the digital marketing industry, at a rapid speed. As a result, the digital marketing sector is considering automating its marketing processes. Once implemented, automated marketing is expected to become a big part of virtual marketing and business in the future.
Conclusion
The digital marketing industry has advanced dramatically over the years and is anticipated to be there in the future. In this situation, any company hoping to advance in the sector must stay on top of these changes. In this context, some trends that are likely to be prominent this year were discussed.
