What is The Current State of The Digital Media Market?

What is The Current State of The Digital Media Market?
May 24, 2017

In the fast and changing world, digital marketers need to be able to upshift quickly, being in sync with the changing world of digital marketing. The existing state of digital media market are mentioned below:-

Increased digital usage and consumption of online content

 

Singapore is not different from rest of the world when it comes to digital penetration and usage. At present, Singapore has the biggest internet penetration in the whole South East Asia region. According to industry studies, internet penetration in India is rising at the quickest rate within Asia. the study has shown Indians between the age of 25 to 34 make the highest use of the internet. A majority of Indians access online content through smartphones or tablets. Digital usage and consumption of online content are at the highest.

Current trends in Consumer Behavior and Marketing

 

Before to 2017, we saw rapid emergence of new and quite popular technologies including Snapchat, Pokemon Go and a revamp Instagram. Many businesses have adopted some of the popular technologies to increase their brand awareness across the country. For instance, Instagram has been and still a predominant platform in India. It is only second to Facebook in terms of popularity. These present trends in the market landscape are caused by changes in consumer behavior.

Content still rules the roost

 

American brands in Coca-Cola, Expedia and LinkedIn have been used in content marketing for boosting increased sales in recent years. The situation isn’t different this year. In 2017, content marketing has already started off in India. Hubspot, one of the largest content marketing giants of the world and listed on NASDAQ, has announced that it would hire that 150 local employees in the 3 years to come. With more conferences on digital marketing, especially on bound or content marketing planned for this year, more companies are likely to focus on content marketing process.

There is also an increase in the usage of ‘’immersive experiences’’ in content marketing. Immersive experiences simply refer to giving your users a feeling that they are doing more than just looking at a smartphone or computer screen. You can interact and involve your audience at a deeper level through Virtual Reality (VR) or Augmented Reality (AR) technologies. The trend is catching up in many Asian countries including India. Leading brands are utilizing AR or VR to engage more effectively with their audiences while hosting live webinars and workshops.

Increased efforts in optimizing conversions

 

Today, Facebook and Google are the biggest platforms which you can rely on to advertise your business. Both platforms perform in the form of an auction. The Greater number of businesses and advertisers are utilizing Google and Facebook ads for promotional and lead generation activities, resulting in higher bid prices. Google ads cost has been a steady increase in 2002 and Facebook is likely to follow the same trend in 2017. Therefore, there is a greater need for usage these platforms to optimize conversions.

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