Emergence of digital technologies to decide marketing spends
- The Indian technology industry is poised for a $37 billion marketing opportunity by 2020 with the emergence of digital technologies, in which 17% will be creative in nature.
- Spending on digital marketing is expected to grow from 8% to 35% by 2020.
- The ‘Marketing, disrupted: opportunities for the Indian technology industry’ report by National Association of Software and Service Companies (Nasscom) & SapientNitro says that enhanced interest in outsourcing creative marketing work & digital marketing opportunity are contributing to the enormous addressable Chief Marketing Officer (CMO) market.
- New opportunities for Indian technology players demand closer coordination with new stakeholders (in businesses) & modifying services to address new needs.
- Technology providers are to review & streamline their services to offer customised solutions for modern business, making use of new opportunity.
- Companies need to restructure their priorities and perspectives to realize the $37 billion opportunity through :
- need to get design and experienced design capabilities
- need for experienced technology innovations such as mobile apps and augmented reality
- need to build a reputation as a creative destination.
- Digital Marketing