Digital marketing boon or bane for indian businesses

Digital marketing boon or bane for indian businesses

• 1.
  Digital Marketing Boonor Bane for Indian Businesses Mr. Dhiraj Pramod Shirode Research Scholar, Jalgaon, 425001 Maharashtra, India [email protected] Dr. Madhulika A. Sonawane School of Management Studies, NMU Jalgaon, 425001 Maharashtra, India [email protected] Abstract - Digital marketing is the rapidly emerging trend in marketing practices; it is the drastic redesigning of marketing set of courses steady with business needs of the 21st century is required. The vision and aim of this research is to study the existing awareness of digital marketing in Indian business. And the contribution of DM trends is helping to grow all those business who adopt these trends for their business growth and branding to generate more revenue. This paper has been developed to find out the major difference between traditional marketing and digital marketing, that can help to prove, Is DM boon or bane for Indian businesses? Index Keyword Terms – Social media, smart phones, internet, digital marketing, search engines, online & social presence, business growth. INTRODUCTION “Driving revenue growth through better consumer engagement is the goal of every Digital Marketing campaign." - Infosys Marketing using electronic media such as the internet, e-mail, television, smart phones, tablets, game consoles and social networks in combination with digital data about customers characteristics & behaviors. Digital marketing activity is completely opposite to the traditional marketing activities such as print media. This platform is uniquely positioned to make sure consumer targeting is combined with audience intelligence, directed delivery, and configuration technology. The rapid evolution of digital media has created new opportunities and avenues for advertising and marketing. Fuelled by the propagation of devices to access digital media, this has lead to the vast growth of digital advertising. Digital marketing' has become the most common term, especially after the year 2013. Compared to traditional methods of advertising, Digital Marketing offers rather practical costs (particularly important for small- and medium- size businesses and start-ups), precise targeting and brilliant reporting. Considering the current level of internet marketing company, it’s tough to believe how juvenile the internet marketplace is. While the time span of internet marketing has been small, the increasing events leading up to where we are now have impacted the entire globe sooner than any marketing revolution in history. Internet marketing is the practice of making use of the Internet as an intermediate for a marketing campaign. An Internet marketing campaign can engross several different types of advertisements, counting the banner bars that formed of core of online advertising efforts in the late 1990s, a newsletter circulated via e-mail, an interactive pop-up window, links to one World Wide Web site from any other one, and a Web site itself. Internet marketing hard work can be designed to push direct sales, build a brand, encourage repeat business, and gain customer information. Quite regularly, the Internet is just one of numerous mediums-including television, radio, and print- that companies utilize in their marketing campaigns. In 1994, spending for internet marketing totaled nearly nil, but increased to over $300 million in 1995. After a decade later, marketing expenses and internet marketing business has exploded to nearly $500 billion (according to Forrester Research). Today, it’s tough to believe in having an organization which doesn’t have some kind of online occurrence.
• 2.
  Current Developments inDigital Marketing: 1. Segmentation - more focus placed in order to target specific market in both business to business and business to customer sectors. 2. Influencer Marketing - important nodes within related communities known as influencers. so it may be possible to reach influencers via, Facebook ads, Google adds, and emails. 3. Online Behavioral Advertising - Online Behavioral Adverts refers to the practice of collecting information about a user’s online activity over time on a particular device in order to that user’s interests and preferences. 4. Collaborative Environment - A set up between the association, the technology service supplier, and the digital agencies to optimize effort, source sharing, reusability and interactions Digital marketing is a widespread term that refers to various and different promotional techniques deployed to reach customers via digital technologies. The results of digital marketing efforts can be tracked by reach, views, clicks, visits, response rates, and conversions. It is the practice of promoting products and services using digital distribution channels, getting on targeted consumers, building iterative relationship with those consumers, and having the capability to produce measurable results. I. TYPES / ELEMENTS OF DIGITAL MARKETING: 1. SEO – (Search Engine Optimization) Slight focus of SEO has lead to many people cutting corners to influence search ranks. It’s true that some searchers look past the first page, and the first few results are clicked 60% of the time, but search engines like Google provide new ways for you to attract visitors without trusting on shady tactics 2. SMM – (Social Media Marketing) Social media has become even much important as Google and company cracks down on black-hat marketing strategy. Search engines have also begun using activity on these websites as a metric for popularity and usefulness. Shares on Facebook, Twitter re-tweets and +1s on Google all help your position on the search engine results pages; however, social media marketing is about additional than that. Social networking on Facebook and similar sites allows you to track what people are really saying about your company, even if they’re not saying it straight to you. 3. PPC – (Pay per Click Ads) if your website isn’t seeing enough organic traffic, you may purchase ads directly on Google or on other websites via the many ad networks that are present. Pay-per- click, or PCC, ads are typically appropriate to the keyword that searchers use on Google. 4. Email Newsletters - e-mail marketing not only provide another place to link to your website and products, but you can attract consumers with special deals or sales. If you assemble enough user data when someone subscribe, you can channel significant information to certain segments, which helps to raise conversions. 5. Affiliate Marketing - it can be quite alike to online advertising, excluding that the website hosting the advert will be recompensed only when a sale is made. The payment will be given to the website owner and also the incentive to promote the advert more prominently. 6. Viral Marketing – It combines many elements of the marketing mix plus videos on YouTube, blogs, email marketing, as well as traditional elements, but the goal is to make sure that the
• 3.
  content captures thethoughts of your market, and that the content spread over naturally through online communities. 7. Text Messaging – Mobile marketing is one of the biggest growing areas in digital marketing. The amplified usage of smart phones around the world has resulted in a larger dependency on them for rapid and timely information. Text messaging is a move forward strategy that some view as spam, but if used appropriately, can be an effective customer messaging approach. II. MOST POPULAR OPTIONS AVAILABLE IN DIGITAL MARKETING: i. Facebook Pages - It offers an easy way to get a conversion going with your customers, improve loyalty, ask for feedback and build a community. ii. Twitter - It can helps to announce new products, chat about news items in your industry or offer discounts, depending upon your industry iii. Google Plus - It is a new social network from Google itself, it's sort of hybrid combination of Facebook and twitter, which allows you to group conversations with some of your customers and prospects. iv. Pinterest - It is a digital bulletin board, which is a highly visual way for people to share interesting content they come across online. it is a lighter version of Facebook wall. v. LinkedIn Forums - It is the largest social business network, which developing a strong reputation by answering questions in certain forums relevant to your niche market. vi. Q&A Sites - A number of sites offering opportunities to answer questions for prospects; some of the bese known of them include Quora and Yahoo answers, Avvo and travellr. vii. Email Marketing - It probably won't bring you a ton of new business, but few strategies can match email to build existing customer loyalty. viii. Reviews / Social Reputation - It plays a vital role in your local search engine rankings, but more importantly, they influence whether ultimately choose to contact your business. ix. Offline Ads / QR codes - It allows smart phone owners to scan them and be directed to a webpage that contains more information about the product or service being advertised. x. Daily Deals - Daily deal offerings like groupon, living social and Google offer offer merchants the promise of guaranteed customers. xi. Lead Generation Services - Online lead generation companies like thumbertack, servicemagic and redbeacon offer guaranteed customers. xii. Location Base Services - Like foursquare and Facebook places give you the ability to learn a lot about your customers. xiii. Social Media Ads - Facebook and LinkedIn are easy to set up on your own target demographic, geographic and interest based ads. xiv. Search / Display ads - Paid advertising programs such as Google ad-words and Microsoft ad-center in which businesses are charged a fee when a searcher clicks on their advertisements. xv. Local SEO - Optimizing your local business listings like Google places, bing business portal and yelp is one of the most time effective opportunity.
• 4.
  xvi. Link Building- It is a key component of traditional SEO. it is the most successful long-term strategies on most time extensive to execute. xvii. Blogging - It is a great way to demonstrate your expertise and build relationships with prospects, peers and existing customers. xviii. Text Message Ads - Like email, test messages ads probably help you to keep existing customers who have opted in to receive message coming back. xix. Digital Loyalty Programs - it is rapidly going digital with companies like punchd, offering easy to manage loyalty programs for your customers with smart phones. xx. Online Video - Video is a fantastic way to engage with prospects both on websites and search engines like YouTube and vimeo. xxi. Website SEO - On page SEO making your site more visible in the search engines for keywords related to what you sell. it requires technical knowledge for link building and coding in limited effect. xxii. Mobile apps - Most small businesses dont need to develop their own app, but in certain high value industries developing own app to make sense as a customer recruitment tool. III. OBJECTIVES OF THE RESEARCH:  To study the awareness of digital marketing in business sectors  To study the impact of DM in business sector (real estate and IT industry)  To analyze – Is digital marketing boon or bane?  To compare traditional and digital marketing campaigns. IV. AIMS TO IMPLEMENT DIGITAL MARKETING The basic aims and purposes of implementing digital marketing elements in an organization is to gain higher ROI. A.Sell – Grow Sales Start with your most vital transactions that lead to revenue and profit! By using conversion models you can set targets of more quantity to hit. B.Speak Get closure to customers through dialogue and participation - Digital channels are not only great sales channels, they do extremely well as communications channels to connect your audience through digital marketing tools, detailed conversion or budget models which allow you to set goals by channel for getting on to and influencing your audience. C.Serve – Add Value The business website and social customer service are a normal place for customers to go and to get their questions answers or to complain… Paying interest to the quality of service you offer is also key to support your potential to Sell, Speak, Save and Sizzle. D. Save – Save Costs Less exciting than the sizzle of building your brand and social media engagement, but you should show the value you get by using online cost savings
• 5.
  to reduce servicecosts and save on traditional media like print and post. E.Sizzle – Extending your Brand Online Sizzle is about building your own brand online. Think, what makes for a positive online brand as experience is for your audience and you. If the experience you generate is effective, the advantages of engaging with your digital presence will be clear; the interactions within the site and with other channels will be leveled and the visitor will wish to use your online services again further, and tell their friends circles and colleagues about it. V. DRIVERS OF DM a) Level Playing Field - Any business can fight with any competitor regardless of size with a firm digital marketing plan. b) Reduced Costs - Your business can develop its online marketing strategy for very small cost c) Simple to Measure - Unlike traditional methods you can notice it in real time what is or is not working for your trade online and you can familiarize yourself very quickly to improve your results. d) Real Time Results - You can see large numbers of visitors to your site and its subscribers increase, crest trading times, conversion rates and much more at the touch of a button. e) Refinement of Your Strategy - Marketing online allows you to practice your strategy at any point in time and see any improvements or opportunities for further refinement almost immediately. f) Brand Development - A well maintained website with quality content targeting the demands and adding value to your target audience can provide major value and lead generation opportunities. g) Far Greater Exposure - Your trade can be seen anywhere in the world from one marketing operation and once you have optimized the keyword search content in your website you should see a long-term return on your savings and will be fairly small cost to uphold your ranking. h) Viral - Using social media share buttons on your website, email and social media channels make your message able to be shared quickly, just look how useful it is for sharing breaking news. If you consider the average Facebook user has 180 friends of which an average of 10% see their liked posts – your one message has in reality been seen by 15 new prospects, now visualize a number of them also like and share your message and their friends do the same? Great isn’t it?. i) Not Intrusive – Online, people get the option to opt in or out of communications and usually it is appropriate because they were the ones searching intended for it in the first place. j) Greater Engagement - With digital marketing you can promote your prospects, clients and followers to take action, visit your website, read about your products and services, rate them, buy them and give feedback which is noticeable to your market. VI. Barriers of DM a) DM campaigns can be copied b) It can be get drowned by too much online ad mess c) DM will not be taken sincerely if not done proficiently d) It may not be correct for some product or services e) It has large competition f) Digital Marketing status can be dented due to negative review or feedback g) DM is largely dependent upon technology which can be level to errors
• 6.
  h) DM isnot yet hold and made in use by all business people i) Outdated information on website is serious issue over here j) Boundaries for posting content VII. LITERATURE REVIEW: 1. International companies perception of digital marketing strategies and their implementations. - By Lund University in 2011 2. Internet marketing boon or bane for Indian businesses. - ISSN: 2320-0901 VIII. RESEARCH METHODOLOGY This research is based on empirical study and the primary as well as secondary data, however primary data gathering was given more importance since it is overhearing feature in attitude studies. For the research approach I had made a choice between deductive and inductive research methods. Conclusion over deductive method can be comprehended after taking into consideration the theory and the related hypothesis. As the hypothesis is firstly constructed and later tested, the formulation is called testing theory. On the other hand, as the theory gets created as per orderly assessment over some well grouped information, then the formulation is called inductive method. This is also termed as building theory. Qualitative research methodology and quantitative research methodology are two classified form of primary data. Data collection ion qualitative study is forwarded taking into considerations interpretations that are appropriately expressed to develop internal details followed by the complete analysis and outcome data, which need to get categorized into groups or classes. Quantitative research methodology speculates data from figures and statistical derivations. It leads the collected data to numerical and consistent forms. Assessments are forward taking place the basis of diagrams and statistical graphs. In this research, the researcher uses questionnaire to understand the approach of selected section. He further examines it mathematically. Thus it is a quantitative approach. To get the dissimilarities and similarities among customers and for this culture groups, statistical tests and graphs are followed. IX. DATA SOURCES Primary Data - It is gathered for a research on the basis of practical means of questionnaires, interviews and under the focal point of certain group debates. The primary data is incidental through the process of statistical calculation and analysis. This is a kind of precise methodology that gets followed to accurate end-results. Secondary Data - The process to gather secondary data is much easier than the primary data collection. It is here that the information is gathered through the way of using sources that already exist. These sources are represented by various white papers, articles, internet and various kinds of print media; especially. newspaper & research editorials along with academic journals. X. SAMPLING METHOD Sample selection is the method with the help of which the participants for the interview are filterd. The sample was selected of them who were the people lived in NASHIK district, Maharashtra and belongs to real estate and IT industry. XI. SAMPLE SIZE The sample size of my paper is limited to 20 people only. Out of which 13 people had already adopted the digital marketing instead of traditional marketing. Other 04 people have the oral idea of this plans and ideas and its benefits. Rest of the people did not have any idea of such technology and its uses.
• 7.
  XII. DATA ANALYSIS& INTERPRETATION: 1. Which industry you belongs to? a) Real Estate - 33% b) I.T. - 58% c) Others - 09% Industry Real Estate I.T. Others 2. Do you use internet? a) Yes (Regular) - 47% b) No - 17% c) Sometime - 26% d) What is that - 10% Internet Users Yes (Regular) No Partial 3. Do you have website for your business? a) Yes (Regular) - 56% b) No - 44% Business Website Yes No 4. Do you have social profiles? a) Yes (Regular) - 58% b) No - 35% c) What is that - 07% Social Accpont Profiles Yes No What is that 5. Do you use your social accounts for your business? a) Yes (Regular) - 47% b) No - 39% c) Partially - 14% Social Account for Business Yes No Partially
• 8.
  6. On whichsocial site you have business profile? a) Facebook - 58% b) Google + - 21% c) Twitter - 23% d) Pinterest - 05% e) YouTube - 06% f) Instagram - 08% g) LinkedIn - 29% Social Media Platform Facebook Twitter Google+ Pinterest YouTube Instagram 7. Are you aware about Digital Marketing? a) Yes - 46% b) No - 38% c) Partial - 16% Awareness Yes No Partial 8. Which element you preferred in digital marketing? a) SEO - 50% b) SMM - 34% c) Text Message - 06% d) Email - 05% e) PPC - 03% f) Affiliate Mktg.- 02% DM Element SEO SMM PPC Email Affiliated 9. Do you have any type of online advertisements a) Yes - 33% b) No - 67% Online Ads Yes No 10. If you preferred one of the elements of DM in your business then what will be the impact of DM in your business growth? a) Revenue - 22% b) Sale - 48% c) Online Presence - 40% d) High Competition - 08% e) Wastage of money - 06% Impact of DM Revenue Sale Presence Competition Wastage
• 9.
  11. What isdigital marketing for your business a) Boon - 68% b) Bane - 26% c) Nothing - 06% What is DM? Boon Bane Nothing 12. Is traditional marketing still helping for your business growth a) Yes - 26% b) No - 51% c) Partially - 23% Traditional mktng for Business Yes No partially XIII. FINDINGS: a) For this research I gave preference to real estate, information technology and manufacturing industry, within all these industry around 73% business peoples are using internet and rest of the people not. b) From the above 73% business peoples 56% of business peoples have their own websites for business purpose. c) 58% of the business peoples from above industries having their own social accounts and from all of them around 61% peoples used their social account for business purpose. d) Business peoples preferred multiple social accounts for business purpose but the Facebook, LinkedIn, Google+ and Twitter mostly likable. e) 62% of business peoples are aware about digital marketing, and they mostly followed SEO and SMM element for their business growth respectively. as these both are element has organic elements they does not requires to pay for advertisements, rest of the paid elements could not adopted by most business peoples. f) From above 62% DM users 33% business peoples referring online advertisements for promoting their products. (OLX, Gumtree, Hubspot, Locanto, Quikr, Clicks etc) g) Around 48% + 40% of business peoples adopted digital marketing for increasing sales and online presence of their business respectively and they got 22% growth in their revenue due to digital marketing. h) With the help of this research I found that 68% business peoples thinks that digital marketing is boon and rest peoples are not satisfied. i) After this research I found that traditional marketing is still helping to 26% business peoples only, 51% peoples thinks that traditional marketing is just wastage of money and time and rest 23% peoples think it is partial helpful for business.
• 10.
  XIV. SUGGESTIONS: According tothis research and study I have few of suggestions for all business peoples, all the suggestions are as given below… a) As the smart phone, social media accounts and internet usage is rapidly growing in our country, it directly makes very positive impact in business promotion. b) India is becoming second largest country where internet and smart phones user’s ratio is very high. c) Digital marketing trend is also rapidly growing in India, so start adopting DM for business growth. XV. CONCLUSION: According to the findings of the above research and study I would like to conclude that, a) Traditional marketing has become outdated trend of marketing and business promotion. b) As compared to TM; Digital marketing is getting huge round of higher results in very short span of time. c) 62% of the businesses & marketers are aware and acknowledge the importance of Digital Marketing to their businesses. d) As an e-entrepreneurship, FDI is going to take place in current market of India; Digital marketing is the major helping hand for the growth in Indian economy. e) DM has proven that it has made positive impact for business owners in terms of increasing online presence, branding, revenue and sales. f) With the help of overall study I can say that Digital marketing is definitely boon for the Indian businesses XVI. BIBLIOGRAPHY: A.References from books 1. Business research methodology by – C.R.Kothari 2. Personal Interviews. 3. Questionnaire B.Online Database 1. Wikipedia 2. www.yahooQuestions.com 3. www.google.com 4. www.moz.com 5. Literatures