Warc, 5 September 2014
NEW DELHI: The online advertising market in India is on
course to grow by 30% by the end of the financial year, according to a new
industry forecast.
Driven by increasing demand for quick and effective ad
measurability, the country's digital ad market is expected to be worth Rs.3,575
crore by the end of March 2015, up from Rs.2,750 crore in the previous year,
Live Mint reported.
This is the latest projection from the Digital Advertising
in India report, which is a joint study by the Internet and Mobile Association
of India (IAMAI), a trade body, and market research firm IMRB International.
In addition, the report expects further investment in
rich-media formats like video and social media on the back of greater adoption
of mobile devices in India and improvements to its broadband infrastructure and
connectivity.
Adspend on mobile devices is currently growing at an annual
average rate of 46%, the report said, social media adspend at an annual rate of
41%, while video adspend is expected to increase at an annual rate of 56%.
Meanwhile, adspend on both search and display – which
account for 30% and 23% respectively of the total online ad market in India –
is expected to reduce as video and other newer forms of digital ads increase in
popularity.
The effectiveness of digital marketing and its facility to
provide accurate metrics received endorsement from a leading brand advertiser.
Sandeep Komaravelly, svp of marketing at Snapdeal, the
country's largest online marketplace, said: "Digital marketing is
effective for a few reasons. Most important being that it is measurable and you
can granularly measure every penny that you have invested. Your efficiency goes
up dramatically.
"It also gives flexibility to scale up and down
according to the campaign performance. Fashion and lifestyle works well through
social media advertising while the electronics category does well through
search related advertising."
Data sourced from Live Mint; additional content by Warc
staff
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