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Digital Transformation - Is your Business Ready for it?

By Deepshikha Singh, Managing Editor, Consultants Review

When a business is still in its nascent stage, the focus is more on setting the ground, fetching more clients and establishing the brand in the market. During its early days any business can survive with the traditional marketing skills and tactics, however, as time passes, a business needs to spread its wings across various verticals and geographies. Traditional methods of marketing often fall short in meeting the requirement of businesses at such level. At a time when businesses are often marketing-led or sales-led, customer engagement has become more important than ever before.

The recent years have also seen a gradual shift in the way consumers make shopping decision today. Regardless of the size of the company, to reach your target customers, digital marketing has become a must to influence the shopping behavior of your customers. With different department having multiple touch points with its customers, most business models and strategies at present are now directed towards ultimately shifting powers from the seller to the buyer. The buying behavior of the customers has evolved drastically. With the growing internet penetration, rise in popularity of ecommerce in India and as the impact of social media, consumers are now starting and often ending their buyer’s journey at the comfort of their home, scrolling their screens from one online platform to another, shopping online and proving how effectively digital marketing works.

Digital marketing will continue to evolve and is expected to record a 27% rise in the current year to record a mark of Rs 17,377 crore by the end of 2020 and this is expected to cross Rs 50,000 crore mark by the end of 2025, at a CAGR of 27.4%

Clearly, Digital Marketing is a game changer in the current times. Also, according to report by Dentsu Aegis Network, Digital advertising in 2019 saw a rise of 26% over 2018 to reach Rs 13,683 crore while overall advertising witnessed a sober growth of 9.4%. The report also stated that digital marketing will continue to evolve and is expected to record a 27% rise in the current year to record a mark of Rs 17,377 crore by the end of 2020 and this is expected to cross Rs 50,000 crore mark by the end of 2025, at a CAGR of 27.4%. Undoubtedly, Digital marketing is all set to be the playing field for companies of any size or sector to build unique brand awareness amongst its target audience. The power available with digital platforms and the strategies that today’s digital marketing consultants can provide is bound to enable customer engagement to fuel an organization’s growth by connecting their authentic brand message with the right target audiences. From its lower investments yet better outputs, giving more access to reach customers, there are many more powerful ways through which digital marketing strategies can help you bridge the gaps between you and your customers, thus enabling you to generate even more leads while selling your offerings more efficiently.

Brands are not just using digital marketing but are also willing to continue spending on these strategies. We can safely say that digital marketing is here to stay. It is never too late to start something new and good. If your company has not yet adopted digital marketing to connect with your consumers, there would be no better time than now to do so.

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