According to a study conducted by Group M, a leading digital agency, digital media spend is expected to see an increase from Rs. 7300 in 2016 to Rs. 9490 crores this year. That’s a growth of 30 percent from the previous year. India Brand Equity Foundation (IBEF) forecasts India’s digital advertisement market is poised to grow at a compound annual growth rate (CAGR) of 33.5 per cent to cross the Rs. 25,500 crore mark by 2020.
This growth rate attests to the ROI from digital marketing. With insights available almost instantaneously, digital advertising techniques also present an opportunity to modify the campaign based on its performance.
The Indian market is a challenging landscape when it comes to strategising digital marketing. As per Digital India 2016, 70% Indians spend time shopping online vs social networking and the frequency of shopping is expected to double over the next 5 years with more and more people from tier 2 cities also beginning to shop online. India is a diverse country that makes planning a nationwide digital marketing campaign a hassle since more money has to be spent in creating regional/native ads while sending an all encompassing message across.
58% of Indian marketers agree that customer acquisition is the primary focus of their marketing campaigns. The second challenge that marketers face is the budget allocation. While India is seeing a rise in digital media budgets, “36% of Indian marketers are not willing to spend more than 10% of their budget on e-marketing” which surely needs to increase. A third challenge comes in the educating clients about digital marketing, its types and making them understand which platform would get them the desired results.
In digital marketing Search Engine Marketing (SEM) is the key method to acquiring user data. Of this, Adwords and SEO are the main components. While Google Adwords takes care of attributes like Cost-Per-Click (CPC) or Par-Per-Click (PPC); SEO looks at getting your website/ webpage ranked higher in various search engine result pages.
Digital marketers would look at deploying both aspects of SEM to increase their online presence. Google Adwords is part of paid media that is specific to Google websites and is ideal for new companies to expand their online presence. SEO is free, as in; no money is spent in trying to get your website a better ranking. SEO is a comparatively slower method than Adwords to gain traction, but is a long term sustainable online plan. To suit Indian market companies need to continue a healthy mix of SEO & SEM. While SEO can be used to target metros, SEM with regional language based content can surely be used to capture the tier 2 cities.
Measuring return on investment on SEO or “organic” growth of your website is based on understanding number of page views and actual conversions based on keyword search. SEO metrics does not stop with keyword analytics.
How can you reduce costs through SEO?
- Performing a thorough keyword analysis
- Creating quality and unique content that is aligned with the keywords and your core business
- Have a clear company voice that sends out the same marketing message
- Understanding trends and incorporating it into your content
- Managing your own social media
- Getting as many back links as possible through your own online network
As digital marketing evolves rapidly, there are many sceptics who question whether SEO is still as effective as it used to be before. The answer is that, it is. With users piggybacking heavily on credibility of search engines, the relevance of optimizing content for the search engine is unlikely to disappear any time soon. With regional language content gaining traction very soon companies will have to device SEO strategies for it which will be a new ball game all together.
Bydopting and implementing the right strategy for your business, you will not only improve your search ranking but also rake in revenue from paying customers.