A decade ago, many organizations would have easily succeeded with very little or no knowledge in digital marketing. However, in the last 6 years or so, the world has witnessed massive internet and mobile penetration with applications like mobile banking, video streaming apps, AI/IOT enabled apps, etc., taking over the world wide web by storm. In effect, buyers and sellers have largely graduated into digital mode, and the internet is now this gigantic new market, where opportunities for growth are ever-expanding.
This transition of the digitally-aware, digitally savvy buyer has forced traditional marketing to take several steps back and has brought in a new face in front of the industry – Digital Marketing. Traditional brick and mortar companies who were successfully exploiting non-digital channels like billboards, newspapers, TV, radio, and print – are now scrambling to upskill/re-skill themselves in Digital Marketing.
Digital marketing encompasses all marketing efforts that use an electronic device or the internet.
Businesses leverage digital channels such as search engines, social media, email, and other websites to connect with current and prospective customers. Any modern brand that wants to get ahead in the current business climate will need to adopt digital marketing tactics as part of their overall strategy.
While the fundamentals of marketing remain the same, the tools have changed. Digital marketing has added advantage of being more cost efficient, effective & it allows organizations to measure, monitor, analyze & test much faster and accurately. Marketing leaders need to upskill or reskill to get grip on the tools like SEO - Search engine optimization, social media & Content marketing (Blogs & Videos).
In large traditional organizations, we are finding sudden rise in interest levels in digital marketing while they transition and leverage digital marketing. upGrad for Business is helping such organizations in this transformational journey. Many have scaled very well, with better interaction with the audience using social media marketing.
As digital marketing by itself gives global reach and presence, it truly becomes “Think Local but act Global”. The overall shift has helped in reduction of marketing overheads in range of close to 39%- 55% depending upon the organization and their marketing strategy leading to rise in profit margin in immediate terms and brand build in long term.
Digital marketing is here to stay and we at upGrad for Business, are here to help you embrace the change & adopt to the new norm of doing business. Get your team to take up one of our personalized Digital Marketing Courses taught by industry experts who will help them master a lot of tools, making them confident to implement marketing strategies across major online marketing channels.
Shakti Leekha
Global Business Leader, Key Note Speaker, Author of Reimagine High Value Sales, ex-CMO Bajaj Electricals