The boom of Digital Advertising
Digital advertising is experiencing a rise like never before. With most people using mobile phones and internet for everything like entertainment, news, banking etc., digital advertisements become the easiest way to reach the target audience. New tactics of mobile advertising such as in-app advertising and SMS advertising fetches better consumer attention than conventional ways of promoting products and services.
Research Reports Reveal The Truth!
- With each year the digital ad market is reaching new heights. According to the reports, Digital ad market expenditure to reach Rs 12,046crore by Decempber2018.
- In the report ‘Digital Advertising in India 2017’ published by Internet and Mobile Association of India ( IAMAI) and Kantar IMRB, the estimated digital ad spends was Rs.9,266 crore which depicted a growth of 27% in comparison to 2016.
- ‘Search’ takes up the largest share of digital ads followed by video and mobile. The advertising expenditure on ‘search’ alone contributes to 27% of the total digital ad spends.
- 18% digital ad spend is attributed to social media advertising which amounts to Rs.1, 668 Crore.
- Mobile advertising that essentially includes SMS/ In-App ads show year-on-year (YOY) growth of 34%. The digital ad spends accelerated from Rs. 1,314 crore in 2016 to approximately Rs.1, 761 crore in 2017.
- Reports also state that Banking, Financial Services and Insurance (BFSI) are top the list when it comes to digital ad spends. From their total advertising expenditure, BFSI spends 46% on digital ads which amounts to Rs. 2,022 crore. After BFSI comes e-commerce. Telecom and travel sectors which contribute their major share of overall advertising to digital ads.
Consumers believe that the accuracy rate of digital ads for their search has increased in 2017 in comparison to last year.
Industry Expert reviews
According to the advertising gurus, digital advertising is being viewed as an innovative way to entice the target customer. With mobile advertising, the advertisers are able to send their message clearly and are able to receive focused attention of the viewer. This dimension leads to better monetisation.
The advertisers are showing increasing interest in ‘native ads’ which provide the customer with the information they need without distrusting their online experience and are precisely seen by them only.