The last year saw a 50-55 per cent increase in digital marketing budgets, and its share is expected to rise to 75 per cent over the next two years. These are the findings from the recently launched report by DMAasia and Times Internet. The report is named ‘The State of Indian Digital Marketing – a CMO Perspective 2016-17’.
Modern marketing can be advanced with insights of what worked in the past and what decisive leaders believe will work. To enable marketers to dive deep into richer insights, the DMAasia unveiled this report on marketing trends for 2017-18.
The report includes the insights from marketing leaders and peers to augment the growth of businesses in order to ensure success and stay a step ahead in the race. Around 115 senior level CxOs and CDOs have contributed to this report. A majority of marketing leaders revealed that social media plays a pivotal role in customer engagement.
The report highlights that social media marketing, content marketing, search engine optimisation (SEO), website and video are among the digital marketing initiatives that worked well in 2016 whereas video virality, agency output, influencer marketing, measuring ROI and mass media advertising did not. While customer engagement, content marketing, mobile first marketing and measuring marketing ROI are the areas to be focused and leveraged upon in 2017.
The study also yielded that 40 per cent CMOs are not satisfied with the contribution of agencies as they do not manage to deliver in conformity with their marketing goals and growth prospects. Consequently, in house marketing asset creation movement is gaining momentum and will see surge over the next few years unless agencies reinvent their models.
Gulshan Verma, Chief Revenue Officer, Times Internet and President, DMAasia Insights Council, said, “With this study our goal was to understand what the marketers were thinking and help them learn from their community. By speaking to over a 100 CMOs in the country, we realised that ultimately the core goals of marketing haven’t changed – reaching the consumer, engaging with them, and making them a loyal customer are still essential to all marketers. Digital will continue to be very important in the years to come to achieve these goals and what is interesting is the way marketers are approaching it.”
Vatsal Asher, Founder and CEO, DMAasia, said, “The report reveals the contribution of digital platform in the overall marketing mix and shares an insightful roadmap for the coming years. Basis current trends and sentiments, this report aims to help businesses understand, analyse and make decisions by being an indispensable guidebook to sail through the abundant choppy marketing waters.”