Digital media likely to get half of all global ad spend
This year, digital ad spend is forecast to grow by 10.1% YoY, after being the only form of media that saw any growth in 2020 (3.2% YoY)
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Digital media accounted for 48 per cent of total global ad spend in 2020 and is expected to account for a full 50 per cent in 2021. This is about on par with estimates given by Zenith, which predicted digital would represent 51 per cent of ad spend across the globe in 2021. This year, digital ad spend is forecast to grow by 10.1 per cent YoY, after being the only form of media that saw any growth in 2020 (3.2 per cent YoY).
Social media is expected to see the fastest growth (18.3 per cent) this year of all the digital channels analyzed, followed by paid search (11 per cent) and online video (10.8 per cent). This finding is supported by research from WARC which found that YouTube, Google, Instagram and TikTok are the platforms the largest share of marketers expect to increase their investment in this year. Dentsu in its Digital Report 2021 revealed that digital media will grow at 20 per cent to reach a market size of Rs 18,938 crore by 2021 and with a CAGR of 22.47 per cent to reach Rs. 23,673 crore by 2022.
The overall Indian advertising industry is expected to make a come-back and grow by 10.8 per cent to reach Rs 62,577 crore by the end of the year 2021. Furthermore, it is expected to grow with a CAGR of 11.59 per cent to reach Rs. 70,343 crore by 2022.
Our lives our now divided into two major parts, such as before Covid-19 and after Covid-19. The outbreak of the pandemic has altered the social attitudes and lifestyle of people and has made significant changes in how people shop and work. People have started to work from home and spend a considerable amount of time online. Thus it is the right time for businesses to gear up their digital marketing tactics to attract as many leads as possible into their sales funnel. There are tremendous opportunities for digital marketers to enhance their business scope by streamlining their digital marketing strategies in tune with the interest of their audience.
To achieve this, digit marketers have to do the following: They should build a strong social media marketing support for their brand, to maintain links and socialize them; They should ensure that they keep their website content up to date to feed their audience with credible and real-time data; To safeguard the image of the brand among the common public, brands need to stay empathetic and avoid some hard sales. They should show the people that they care for the world which includes their staff and their clients; and they should concentrate on a strong SEO strategy and strive to stay ahead of the competition.
The number of internet users by the year 2021 is expected to reach beyond 820 million. The digital advertising industry will grow at an average of 14 per cent annually and will realize double the growth by the year 2021-22, according to industry experts. Digital services will be accessed by more than 220 million users with the help of their smart devices.
Content and data should go hand-in-hand for further optimisation and search engine optimization benefits. AI will continue to emerge as a disruptive technology that marketing leaders need to better understand and take advantage of
Content is the currency of digital marketing, and for businesses to engage digitally, they need to stay ahead of trends in how they create content for which platforms. So companies need to optimize their written content for voice searches, implement more and more AI features on their websites, such as chatbots, product and content recommendations, e-commerce transactions, and so on. All in all, the creation of content (and content marketing) - whether long form text or video is going to become the cornerstone of all digital marketing campaigns.
Simplify your 2021 social media marketing strategy with a proven 6-step framework to build an audience that cares, shares, and converts. A Strategy Framework could be best summarized by setting energizing goals, Identifying target audiences, establishing a channel strategy, designing a content strategy, amplifying your content distribution and planning your execution.
In India, the digital ad revenue in the country will be worth almost Rs 540 billion by fiscal year 2024, while the television and print ad revenues were projected to reach about Rs 455 billion and Rs 276 billion respectively. These numbers clearly show that India is heading towards a digital advertising future.
