Digital Marketing or Online Advertising has grown rapidly over the last decade. Today Online or Internet advertising is a medium that both big and small brands cannot afford to ignore as they look to grow their business, build their brand and acquire new customers across categories or markets they serve.
Digital Marketing has become a mainstream medium of communication and marketing with brands increasing their Digital Marketing spends every year given the benefits and effectiveness of the medium to the overall business. Digital Marketing has various types of Ad formats and each of them play a key role depending on the product or service or category the brand is in , the brand's objectives and budgets. So your digital marketing media plan can include ad formats that are pure text, text + Image or video. Every Ad type serves a purpose across the consumer funnel a brand addresses - Top of Funnel to Bottom of Funnel.
Based on several factors, a digital marketing plan can include Google Search, Facebook, Instagram, YouTube or other important ad platforms like Linkedin or any other online platform depending on the profile of customers the online platform attracts and customers you are looking to target.
Digital advertising growth is growing rapidly and may continue to do so in the coming years. Global projections indicate that the digital advertising market will continue to grow over the next few years in double digits. In fact, it’s expected to cross the $400 billion mark in 2022 with a 13.3 percent year-over-year increase. The digital advertising market is also expected to hit $526.17 billion by 2024. That rapid pace of growth is seen in India too. The size of the digital marketing media spends in india is projected to be around Rs.19,000 Crores in 2021 and is estimated to reach Rs.23,500 crores by 2022.
Digital Marketing or Advertising is growing rapidly and will continue to do so in the coming years.