In 2023, Digital Media India will be in its 12th year. In the nation, it is becoming more well-liked. Digital media has established a footprint in the nation thanks to people’s increased digital literacy and the availability of internet in every home. Businesses now perform the majority of their operations online, whether it is to place food orders at restaurants or reserve travel accommodations. Businesses like Swiggy, Zomato, and Uber Eats have transformed the restaurant industry by assisting restaurants in reaching their target audiences.
The way people travel has also altered as a result of Zoom-Car, Uber, and Ola. The innovation is still going strong and won’t stop anytime soon. In the near future, digital media will occupy a significant amount of area with positive results.
Businesses have taken the initiative to make use of the digital realm thanks to organizations like Z1 Media, which strives to combine digital media and advertising to assist them reach their target customers with their products. There are numerous additional businesses participating.
A research projects that by the end of 2023, the Indian digital market will be worth Rs 35,809 crore, growing at a rate of 29%. On par with television, it is anticipated to contribute 38% to India’s overall advertising sector.
By the end of 2023, it is anticipated that ad spending on online video would account for 30 percent of all ad spending (or Rs. 10,474 crore) in the digital advertising market.To reach an expenditure share of 29%, social media is anticipated to expand at a CAGR of 29.79%. By the end of 2023, display banners will account for 16% of all spend, compared to 22% for paid search.
On the other hand, the Indian government has established the Digital India program in an effort to use information technology to modernize the entire ecosystem of public services, with the goal of transforming India into a society and knowledge economy that is enabled by technology. Today, little villages can also offer opportunities in addition to big metropolis.In addition, when compared to other platforms, digital is one of the most cost-effective ways to promote a product. This also results in a higher rate of engagement. Because individuals use social media for almost everything, the engagement rate should be higher. People require high-quality material to keep themselves informed and entertained. As a result, it is the responsibility of digital marketers to create interesting content for their target audiences.
People around the world realized its importance during the Covid-19 pandemic. Particularly for commercial purposes. Companies can’t reach out to their customers in person, but they can do it online at any time and from anywhere. As a result, because you can directly target your specific audience, Digital platform is the most successful strategy for promoting your product.