The future of advertising lies in the hands of Digital Media.
Digital media has shown immense rise in recent past owing to rapid technological advancement and the deeper penetration of mobile services in rural areas. This digital revolution bought by internet service and mobile phones has opened doors for advertisers and brands to reach their target audience in more refined and interactive ways. Experts believe that digital advertising shall become the main focus for brands in near future as digital advertising is being well accepted by Indian audience.
As mobile phone advertising, internet advertising and digital outdoor hoardings are data driven and more accurate, this serves as demand and supply chain for both audience and the brands. The digital advertising formats include:
- Advertising on Social Media
- Search Results
- Screen Display ads/ Landing page ads
- Video Advertising
BFSI (Banking, Financial Services and Insurance) spends 38% of its digital marketing budget on ‘search’ while FMCG brands rely heavily on video (33%) advertising as their digital media spends.
What lies in the future of digital media?
Digitization of media has opened newer ways for brand as well as advertisers to reach wider target audience more creatively and dynamically. The future is even brighter as the digital media will be supported by:
- Machine learning(ML)
- Artificial Intelligence(AI)
- Voice control, Vernacular and video
- Virtual Reality (VR) & Augmented Reality (AR) leading to engaging mobile and internet experience.
Currently, Digital media is in the initial stage but as young generation is adopting technology rapidly, this phase will soon turn into phenomenon. The data-driven business decisions and strategies will lead to adoption and implementation of different types of business models. This in turn will extend the scope of digital media. Digital media is most accurate and measurable means of advertising which is attracting more brands to invest in this rewarding advertising platform.