Trends in digital marketing in India in 2023
Digital marketing in India is evolving at a rapid pace. With new technologies and platforms emerging every day, it can be hard to keep up with the latest trends. In this blog post, we will explore some of the top digital marketing trends in India for 2023. From AI-powered marketing to voice search optimization, we will cover the latest and greatest in Indian digital marketing. So whether you are a marketer yourself or just curious about the industry, read on for an insider’s look at the future of digital marketing in India.
The growth rate of digital marketing in India in 2022 and the forecast
The growth rate of digital marketing in India is forecast to reach 22% in 2022. This will be driven by the increasing use of mobile devices and the growing number of internet users. The number of mobile phone users is expected to grow from 1.2 billion in 2017 to 1.4 billion in 2022. The number of internet users is expected to grow from 481 million in 2017 to 636 million in 2022.
Latest applications of digital marketing
Digital marketing has been on the rise in India and it is no surprise that businesses have started to adopt the latest applications of digital marketing to reach out to their target consumers. Here are some of the latest applications of digital marketing in India that businesses are using:
- Messaging Apps: With the increasing popularity of messaging apps like WhatsApp and WeChat, businesses are using these platforms to reach out to their target consumers. By creating engaging content and providing value-added services, businesses are able to connect with consumers on a personal level and build long-term relationships.
- Social Media Marketing: Social media platforms like Facebook, Twitter, and LinkedIn offer a great way for businesses to connect with their target consumers. By creating informative and interesting content, businesses can attract more followers and eventually convert them into customers.
- Content Marketing: Creating high-quality content is one of the most effective ways to promote your business online. By producing informative articles, blog posts, infographics, etc., you can attract more visitors to your website which can eventually lead to more sales.
- Search Engine Optimization: By optimizing your website for relevant keywords, you can improve your chances of appearing higher in search engine results pages. This will help you attract more organic traffic which can eventually lead to more sales.
- Pay-Per-Click Advertising: Paid advertising is another effective way to promote your business online. Through platforms like Google AdWords, you can place ads
Forecast of investment in digital marketing by different brands in 2023
As the world progresses, so does technology. And with technology, comes a new trend in marketing- digital marketing. Digital marketing is one of the most efficient and effective ways to reach out to customers and promote your product or service. It has become an integral part of any marketing strategy and its importance will only continue to grow in the coming years.
There are many different aspects to digital marketing, such as search engine optimization (SEO), social media marketing, content marketing, email marketing, and more. And each year, new technologies and platforms emerge that can further enhance the effectiveness of digital marketing campaigns. For example, artificial intelligence (AI) is being used more and more to personalize online experiences for users and predictive analytics is being used to better understand customer behaviour so that marketers can make more informed decisions.
In India specifically, we are seeing a lot of growth in digital marketing. According to a report by eMarketer, spending on digital advertising in India will reach Rs 39,072 crore (US$5.62 billion) by 2023- up from Rs 12,466 crore (US$1.78 billion) in 2018. This represents a compound annual growth rate (CAGR) of 29.3%.
Some of the biggest brands in India are investing heavily in digital marketing, such as Flipkart, Amazon, OYO Rooms, Swiggy, Byju’s, Xiaomi, Micromax, Vivo, and Oppo. As per a study by Deloitte, the forecast of investment in digital marketing by different brands in 2023 is as follows:
- FMCG companies are expected to increase their digital marketing spending from 6% to 10%.
- Consumer durables companies are expected to increase their digital marketing spending from 8% to 12%.
- Automobile companies are expected to increase their digital marketing spending from 10% to 15%.
- BFSI companies are expected to increase their digital marketing spending from 12% to 18%.
With the increasing penetration of the internet and mobile phones in India, there is a growing number of people who are using these devices for various purposes such as social media, online shopping, banking, etc. This has led to a corresponding increase in the number of brands that are investing in digital marketing in order to reach out to this vast customer base. As per the forecast above, we can see that different brands will be increasing their investment in digital marketing at different rates over the next few years.