Marketing@2024

Upraiser

The concept of marketing has ancient roots. Early traders used various methods to promote and sell their goods. For instance, ancient Egyptians, Greeks, and Romans employed techniques like word-of-mouth and physical markets to attract buyers. In the late 18th century and 19th century, Industrial revolution and emergence of advertising agencies had a deep impact that led to companies differentiate their products from others which ultimately was the rise of marketing. Consumer behaviors are constantly evolving, influenced by factors such as technological advancements, cultural shifts, and global events. Adapting to these changes requires marketers to stay agile and proactive in adjusting their strategies to meet the evolving needs and preferences of their audience.

MARKETING

Marketers in 2024 must embrace AI, voice search, chatbots, personalized marketing, video, social commerce, influencers, VR, sustainability and big data for a competitive edge. The constantly evolving marketing landscape requires successful marketers to keep abreast of emerging trends. Modern marketing employs digital tools such as social media, content marketing, and targeted ads to engage specific audiences with personalized messages online. This shift reflects changing consumer behaviors and preferences in today's digital age. This has led to a great impact on recruitment process. As companies are ever evolving with their social media platforms, social media presence, constantly changing demand and supply chain talent pool. Social media lets recruiters reach more people and increases the likelihood they will pinpoint the right candidates who have the exact credentials they're seeking.

"Stopping advertising to save money is like stopping your watch to save time"- Henry Ford

According to various surveys and studies, around 94% of companies use social media in their recruiting efforts. Using social media platforms such as LinkedIn, Facebook, and Twitter, companies can reach a wider audience, target specific demographics, and showcase their employer brand.

AI present, the rising adoption of advertising by various companies to increase customer retention and attract new buyers represents one of the key factors supporting the growth of the market in India. Besides this, the growing adoption of advertising to enhance brand awareness and loyalty of a business is offering a positive market outlook in the country.

Additionally, there is a rise in the need for convenient and cost-effective advertising solutions among the masses. This, coupled with the increasing demand for digital advertising due to the rapid adoption of smartphones and smart devices with the ease of internet facilities, is propelling the growth of the market in the country. Apart from this, the rising trend of advertising through various sports events is offering lucrative growth opportunities to industry investors in India. Moreover, the increasing consumer preference towards online shopping, along with the burgeoning e-commerce industry, is positively influencing the market. In addition, various advertising agencies are rapidly investing in digital advertising in the country, which is contributing to the growth of the market. Furthermore, the rising number of media and entertainment models is strengthening the market growth in India.

New on the Market

The increasing penetration of smartphones, coupled with the rising utilization of digital advertising among numerous organizations for creating a strong brand-image, is primarily driving the Indian advertising market. The future of marketing in India is expected to be dynamic and multifaceted, driven by digital innovation and other trends. Some of the key trends include:

Digital marketing

The digital marketing industry in India is expected to grow rapidly, with a projected, market size of 539 billion rupees by 2024. This growth is fueled by a growing user base, increasing openness to new technologies, and rising digital marketing budgets.

Social media marketing

Social media has become a keyway for marketers to reach their customers and is expected to continue to grow in popularity.

Online presence

Online presence is now a necessity for businesses, as companies use the online world to research, listen, and find products and services.

Augmented reality (AR)

AR is expected to continue to grow in popularity, with many international brands already implementing AR methods into their marketing.

Artificial intelligence (AR)

AI has the potential to transform marketing strategies and campaign optimization through data-driven approaches.

The e-commerce industry in India has experience remarkable growth lately. India will become the world's second-largest e-commerce market by 2034.

By 2030, the Indian e-commerce sector will reach a market value of $300 billion. It may also exhibit a compound annual growth rate (CAGR) of 19.24%. The increasing popularity of online grocery shopping and fashion/apparel purchases drives this growth.

Other trends that are expected to impact the future of marketing in Indias include:

Voice search, Hyperlocal marketing, Omnichannel strategies, Video content, Influencer partnerships, and personalized content.