The Indian internet market is an opportunity for a company to grow and thrive.
The country’s top 10 internet market in terms of internet revenue was worth $21.1 billion in 2014, which means it is worth an estimated $3.4 billion annually, according to a new report by consulting firm Global Media Insight.
The report, which covers India’s largest market, also highlights the opportunities in digital marketing.
“In the last 12 months, internet marketing has become the most valuable category in terms to brand awareness and revenue,” said S.S. Gopalan, founder and chief executive officer of Global Media Intelligence.
“As consumers increasingly seek information about brands, brands are increasingly using digital platforms to reach them.
In India, brands also have a great opportunity to expand and grow in the next 12 months.”
For brands, the digital strategy will also help to attract new customers, as they can use social media, search, email and search engines to get more relevant information, according the report.
In the next two years, online advertising will account for 20 percent of India’s total spending, up from 11 percent in 2018, according Gopal.
The number of online advertising visitors will grow from 2.2 million in 2018 to 5.7 million in 2020, according ToM’s report.
According to Gopala, digital marketing will be a “key driver” in the growth of India in the future.
“The globalisation of the internet and the proliferation of digital services are likely to make India the second largest internet market by 2020,” he said.
“It will be crucial for the company to focus on digital marketing strategy, targeting the right audience, and also ensure its digital marketing capabilities are on par with the global industry.”
The report also suggests that online marketing is a key factor for brand retention.
The study notes that online advertising can generate a “high conversion rate” and a “fast response rate” for a business, which leads to a more sustainable brand.
“These factors are important for a successful digital marketing campaign.
The growth of digital advertising and social media is expected to be the key driver for brand loyalty,” said Gopaling.