By Ananth James (PGDM 2020-22)
Revenue from digital advertisements in India has risen exponentially from 6 billion dollars in 2008 to 199 billion dollars in 2020. Digital advertisements are projected to overtake print and TV advertisements by fiscal year 2024, in terms of revenue generated. The popularity of digital advertisements can be attributed to obvious reasons like increased consumption of digital content, which in turn is due to availability of cheap data and smartphones.
But what really attracts businesses, small and large, to digital platforms for advertisements?
- Specific targeting
One reason why businesses are drawn to digital platforms is the ability to cater to customized audiences. Audience profiles can be targeted based on age, gender, location and even hobbies and interests.
2. Measurable results
Most digital advertisement platforms provide dashboards that show relevant information to track the progress and success of advertisement campaigns. These help make sure the campaigns are progressing in the right direction and also to take any corrective actions if necessary
3. Accessible for everyone
From a local baker who spends less than 2 dollars in India to a multi-billion-dollar business like Samsung spending more than 2 Billion dollars, digital advertisement platforms are accessible and necessary for every business.
Digital advertisement is the only way forward for businesses of all shapes and sizes to reach their target audience in a cost-effective manner. These new methods of advertisement also promise huge returns for its adopters.
