This article has been written by Sujit Kumar Sircar pursuing a Startup Generalist & Virtual Assistant Training Program course from Skill Arbitrage.

This article has been edited and published by Shashwat Kaushik.

Introduction

We are now living in a world where digital marketing has become an increasing trend. Every business is now acknowledging the importance of this new trend and trying to connect with prospects through this medium.

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The internet has now become an important channel for communication, where business promotion for products or services is done through online advertising. There are several platforms used for digital marketing, such as:

  • Smartphones
  • Computers
  • Social media
  • Game console

As a result, the traditional marketing approach is slowly being replaced by digital marketing. Now, gradually, all kinds of businesses are embracing this new form of marketing, as it has become a more powerful way to market any products or services. If anyone wants to pursue a career in marketing, then obtaining a degree in digital marketing can be very useful for career growth.

Indian digital marketing industries have also achieved a lot of growth in digital marketing over the years, and particularly the younger generations are trying to capitalise on the new opportunities. During 2020, when the whole world was combating the pandemic, many businesses preferred to shift to online marketing, and as a result, digital marketing has become quite popular.

However, despite the plenty of outward allure about digital marketing that is visible in the industries, there are a few challenges too.

What is digital marketing

In the traditional form of marketing, normally there is face-to-face communication. However, when we go for digital marketing, buyers and sellers may not even meet or see each other. Every deal will be made digitally through computers, and the internet will remain the medium for communication. In digital marketing, there are different tools used, such as:

  • Email
  • RSS
  • Voice broadcast
  • Blogging
  • Video
  • Streaming
  • Wireless text message
  • Instant message.

Prospects will get connected through online advertising, SEO, PPC, and much more. Most of the digital platforms can be any of the following:

  • Desktop
  • Mobile phone
  • Tablets.

Customers are generally engaged through various electronic channels, like social media, analytics, and e-commerce sites. Most of the activities that will revolve around digital marketing are:

  • Product creation
  • Customer reach
  • Retention
  • Loyalty building
  • Meeting demands.

The landscape for marketing has now changed, and businesses have to adopt quick, realistic, and effective marketing and technology strategies so that they can easily meet the demands of the present generation. For selling any products and services, search engines have a very important role, and most companies use the internet only as a primary medium to market.

As digital technology evolves, online marketing will remain a fast-growing industry. All kinds of businesses are going to thrive with this type of marketing in this age.

While the world is turning digital, businesses of all sizes are trying to seize the opportunity and target their audiences. Since this technology is constantly evolving, it can often be difficult for new businesses to navigate the opportunities and challenges that digital marketing can offer.

History of digital marketing

The concept of digital marketing was born during the late 1900s. It was thought that marketing and technology could not be separated.  That was just the beginning, and subsequently, many steps were followed to reach the stage that we are seeing today.

The following are chronological events that shaped digital marketing as it is seen today.

1945-1970In the US universities, in the computer science department, Vannevar Bush floated the idea of adopting a net for linking documents.
1971-1980Bob Metcalfe first introduced the Apple II personal computer series while writing his thesis on Ethernet.
1981-1990IBM launched the first computer, and ANSI adopted SQL as a standard. Also, computer storage of 100 MB capacity was seen.
1990-1993Archie launched the first search engine, and the concept of digital marketing was coined.
1993-2001The web banner was seen for the first time, e-commerce transactions started, Yahoo was launched, Google was born and Universal Music started a mobile marketing campaign for the first time.
2002-2010LinkedIn was launched, and Facebook, YouTube, Twitter, WhatsApp, and Google Buzz were live. Amazon sales increased to $10 billion; the iPhone series was launched; and internet users in China surpassed those in the US.
2011-201564% increase in social media budget, Facebook took over WhatsApp, the number of mobile users surpassed PC users, and Snapchat launched the Discover feature.
2016- till todayThe Internet in India became household after Jio launched its Internet service, with the highest ever number of users of WhatsApp, YouTube and Instagram.

Opportunities in digital marketing

Digital marketing offers several opportunities for brands, as they can get in touch with their prospects and easily interact with them from different parts of the globe or time zones using different platforms.

Every client is different, and so are their needs. Therefore, brands must meet the requirements of their clients. Digital marketing can create the necessary synergy, and the brands can easily offer a better customer experience and effectively engage them.

Digital marketing is becoming more cost-effective for most brands, and hence, businesses, whether they are large or small, are trying to adopt this new form of marketing concept. As a result, many new opportunities are being developed for digital marketers. Let us discuss what new opportunities digital marketing can offer.

Profitable career

By using a digital marketing platform, a brand can easily connect to its audiences globally faster than in the traditional way. Hence, most companies prefer to hire professionals who have a digital marketing background.

Those who are familiar with social media marketing and SEO have very good career prospects and can easily rise the corporate ladder.

Global opportunities

Today, digital marketing defies geographical boundaries. One can be sitting in one corner of the globe and easily market his products and services to people who may be in other parts of the world.

If you have good knowledge of digital marketing and also have good exposure in this field, then you can easily get a lucrative job from any international company.

Business promotion

In today’s scenario, if you want to be a successful business owner, then learning digital marketing is mandatory. Initially, you may face a little challenge, but if you have the required knowledge and background, then sooner or later, your business will flourish. Your knowledge of digital marketing will help you make a better decision. 

More creativity

Once you enter the digital marketing field, you can enhance your creativity in any activity that you perform. If you are looking for faster growth in your career, then entering the digital marketing field offers you endless opportunities.

Convergence platforms

Those marketers who have adopted digital marketing can strategically advertise their products and services with the help of videos where their clients are available. The viewers can easily get attracted to the allure of the full high-definition resolution of the pictures and videos.

Digital marketers can also showcase their products through a few popular platforms like YouTube and attract customers.

Mobile platform

These days, more than 60% of people carry mobile phones in their hands, and marketers can exploit this platform. The availability of 4G and 5G and a few advanced tools, such as GPS and AR can also attract digital marketers, and they can capitalise on the ever-increasing landscape of mobile phones.

Cost-effectiveness

If you look at the cost aspects, then digital marketing will be much more cost-effective than traditional marketing channels. With the help of email campaigns, online advertising, and social media outreach, it is possible to optimise your marketing budget and also allocate resources efficiently.

Targeted advertising

You can get unrivalled targeting capabilities through digital platforms. There are very efficient tools available, such as data analytics, that enable you to track the user’s behaviour, which can help you customise your advertising in the right locations so that you can get the maximum return on your investment.

Real-time analytics

With digital marketing, you can derive the benefits of real-time analytics, which helps companies track the performance of their different campaigns. If needed, it is possible to correct your strategies to get the best results quickly. 

Brand engagement

These days, social media platforms are very active, and it is possible to have direct and immediate communication between the company and the customers. So, by being active on different social media platforms, companies can increase their online presence and nurture brand engagement and loyalty among customers.

Challenges in digital marketing

Surely, digital marketing offers many exciting opportunities, but there are still many challenges, too. It is good to know what these challenges are so that strategies can be created on how to beat them. Let us briefly discuss the various challenges.

Information overload

There is too much information that is constantly bombarded in various media that may often confuse consumers. Therefore, to attract an audience, marketers need to invent new stories, which is a challenge for digital marketers.

Changing algorithms

The digital marketing platform regularly gets updated due to changes in algorithms. As a result, the visibility of the content is affected. Therefore, to maintain their online presence, marketers need to change their strategies regularly. 

Regulation

In order to meet the expectations of consumers who have been familiar with using traditional media earlier, digital marketers have to complete various regulations that may eat into their revenue. Digital marketers need to take care of consumer protection and also maintain a high standard.

Security concerns

Digital platforms offer many cyber threats and data breaches, which also add another risk to data privacy. Digital marketing poses a greater challenge to protecting the privacy of the customer’s data and maintaining a secure online environment.

Skill gap

As digital marketing is still evolving, companies need to update the skills of their workforce regularly. To remain competitive, companies need to always be up-to-date so that they can meet this challenge.

Cross-channel marketing

Digital marketing does not involve only a single website or social media platform. Digital marketers need to be informed about several video platforms, search engines, app stores, consumers’ inboxes, and many more. If the marketers miss any of the media, then they can fail to connect with a significant chunk of their audiences.

Pursuing your target audience

Suppose you are interested in entering into digital marketing today; you need to project your company as highly competitive, where many other companies have already captured a large segment of the market.

Therefore, to draw the attention of your target audiences, you need to face tough competition to convince them why you are better than others.

Unpredictable buying behaviour

Ever since the internet has become easily accessible, consumer awareness has also greatly increased, as the whole world has now become a single marketplace. Therefore, consumers now have more options, and their buying behaviour has also changed.

Limited budgets

A big company can afford to do their marketing campaign with a huge budget. However, for a start-up company, which may not be as resourceful, it becomes a challenge to create effective and engaging content, especially while creating video content.

Striving to be mobile-friendly 

These days, large numbers of consumers are mobile phone users, and very few like to use tablets or laptops. Hence, the websites need to be mobile-friendly too. This can also be a challenge for many small companies. 

Growing costs

Increasing costs is one factor that cannot be controlled, as the rate of hiring experts is constantly rising. In addition to that, software package prices, digital transformation costs, and marketplace fees may drive a small business crazy.

How to overcome the challenges of digital marketing

There are a number of things that organisations can do to overcome the challenges of digital marketing. These include:

  • Developing a comprehensive digital marketing strategy: This strategy should include goals, objectives, target audience, and a plan for execution.
  • Investing in the right tools and technology: There are a number of digital marketing tools and technologies available that can help organisations reach their goals.
  • Hiring the right people: Organisations need to hire people with the skills and expertise needed to execute their digital marketing strategy.
  • Focusing on data privacy and security: Organisations need to have a plan in place for protecting customer data and digital assets.
  • Measuring and tracking results: Organisations need to track the results of their digital marketing campaigns to see what is working and what isn’t.

By overcoming the challenges of digital marketing, organisations can reap the benefits of increased reach, targeted advertising, personalisation, measurable results, and cost-effectiveness.

Digital marketing trends for coming years

If you want to be competitive in digital marketing, it is crucial to stay well-informed about emerging trends. This will help you connect effectively with your target audience. As we are already in 2024, several trends are going to shape the future of the digital marketing realm.

Social commerce integration

Commerce through social media will be a buzzword in 2024, which is going to redefine how the interaction between consumers and marketers will take place. The integration between social media and eCommerce will grow stronger.

Not only will this increase convenience for customers, but marketers will also get the opportunity to increase their new customer base to expand the business. This integration between social media and e-commerce is essential for companies to stay ahead of the market.

Video content dominance

Video content is going to help in digital marketing, and it will remain one of the most preferred mediums of content for most of the platforms. Hence, every business must capitalise on this trend by creating engaging videos that can be shared on different platforms.

Video content can be anything from compelling stories to product demonstrations or glimpses of behind-the-scenes activities. Video content can always engage any audience and have a deeper impact. Hence, whoever can successfully create compelling video content will be the winner.

Mobile-first marketing

In 2024, the mobile marketing trend will continue, and more and more mobile-friendly content will be created. Since most prospects will access the information via mobile, you must create all your content so that it is compatible with mobile phones. Businesses need to invest in the development of mobile apps.

If you want to create a presence in the arena of digital marketing in 2024, then you must adapt your business to future trends. Businesses must be agile and be ready to embrace the new change. Therefore, you must regularly evaluate your marketing strategy, monitor the trends of the industry, and adjust your business accordingly.

Influencer marketing

Influencer marketing will continue to grow as businesses leverage the power of influencers to reach and engage with their target audience. Micro-influencers, who have a smaller but highly engaged following, will gain more traction.

Sustainability

Sustainability will become a key consideration in digital marketing as consumers increasingly expect businesses to operate in an environmentally friendly and socially responsible manner. Brands will incorporate sustainability into their marketing messages and initiatives, aligning with consumer values.

Conclusion

There is no doubt that digital marketing has totally revolutionised the way businesses are conducted these days and how marketers can engage with their audiences. Therefore, it is quite natural that traditional companies have preferred to switch to this new way of conducting their business operations.

These days, many new platforms have evolved for conducting business, such as switching from PCs and computers to mobile phones and the emergence of social media, which is now playing a very crucial role in digital marketing.

Several new opportunities have evolved in the digital landscape, including global outreach, cost-effectiveness, and enhanced creativity. Also, digital marketing has created a unique opportunity for career growth, particularly in India, where connectivity has tremendously improved since Jio started providing the internet.

Despite all these positives, there are a few challenges posed by digital marketing. Now, audiences are overloaded with information, which can often confuse them. Also, changing algorithms can keep digital marketers on their toes. Data security is also another concern. Since this field is still in its evolving stage, these challenges will be overcome in the near future.

If we look at the future trend of digital marketing, social media will emerge as a powerful platform for e-commerce. Also, conducting business through mobile phones will increase, and hence, every company must create mobile phone-friendly content.

Those businesses that can remain agile, stay informed, and be responsive to market needs are certainly going to win the race and be successful.

References

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