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Future of Digital Technology in India

Monday, May 27, 2019

Vikram Kumar  
Co-Founder and Director, SRV Media & EaseBuzz

India is the fastest growing economy in the world. Business-friendly policies, rapid urbanization, rise in purchasing power and creation of smart cities are some factors that are contributing to India’s growth.

According to a report by market agency Kantar IMRB, India is currently home to 627 million internet users, has registered annual growth of 18% and 97% of users use mobile devices to access the internet. Data collected from the Ministry of Electronics & IT, IAMAI, Google-BCG report and FICCI-EY report indicate a tremendous growth in India’s digital economy:

  • Digital economy is currently 18-23% of India’s GDP.
  • It is expected to become a $1 trillion economy by 2025.
  • Digital technology jobs will double by 2024-25.

The factors and trends that are shaping up the future of India’s digital technology revolution are:

Digital Transactions
Digital transactions have witnessed robust growth in the past few years in India. The country is gradually moving from cash economy to cashless economy as an increasing number of customers have begun to use e-wallets, payments bank, debit/credit cards and internet banking to shop, travel, book movie tickets, pay bills, etc.

Language-Based Content
India being a land with diversity, it is home to multiple languages. There is also the fact that the internet and smartphone penetration in rural areas is rising at an unprecedented growth. There is an increasing demand for technology that can offer digital services and content in local languages.

How Can Businesses Benefit?
The above-mentioned factors and trends offer profitable opportunities for organizations. However, in order to leverage the same, it is crucial that businesses have a strong digital presence and do active digital marketing to market their products and services online.

Organizations can benefit from digital marketing in the following ways:

Measure Return on Investment (ROI)
In traditional marketing such as print, television, billboards and others, it is difficult to measure how successful the campaign has been. However, in the case of digital marketing, it generates various metrics, which makes it possible for organizations to find out the return on investment. Organizations can clear picture of where the marketing money is being spent and how exactly it is impacting their bottom line.

Improve Customer Experience
Digital marketing can help organizations keep track of their customer’s buying journey and engage them with relevant messages at the right moment at the right place. Digital analytics can give insights to organizations about customers’ likes and dislikes and which web pages or content keeps them engaged. By using these insights, organizations can enhance customer experience, drive them down the sales funnel and also retain them.

Do Sentiment Analysis
Digital marketing is an effective tool to measure the sentiments of customers. Sentiment analysis can help organizations identify the feelings, moods and emotions behind the social media posts made by customers with respect to their brand perception. The sentiment analysis categorizes these posts in positive, negative and neutral. Based on the analysis, the organizations can manage online brand reputation and optimize their marketing strategies to create a positive brand perception in the minds of customers.

Digital marketing can yield highly successful results if the organization’s website is well-designed, functional and interactive. A website is not only the digital identity of the organization, but it is also a representation of its credibility. It is the foundation on which the entire digital marketing strategy rests. A good website is one which has organized information architecture, professional design, mobile compatibility, fresh and relevant content, fast load times, and easy navigation.

There is a lot happening at India’s digital forefront. It is the era where digital presence will be a game-changer for organizations. Organizations need to lay down their business requirements and understand what results they want from digital marketing. Businesses which want to gain competitive and technological advantages should consider hiring digital marketing experts or agencies. Digital marketing professionals can be instrumental in growing an organization’s business and create a positive brand perception among customers.

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