Internet and Mobile Association of India (IAMAI) organised the 15th Marketing Conclave in Mumbai with the theme ‘Age of MadTech’. The event saw discussions around ‘Future of Marketing’ where Manish Maheshwari, Managing Director, India Operations at Twitter India talked about the growing rate of internet users in India.
He said, “There are 1.1 billion expected smartphone users in India by 2024. Internet users in rural India are growing at the rate of 35 per cent and Indians at large are expected to consume 18GB data per day by 2024.”
He said that the way people use the internet ends up inspiring brands with their marketing strategy, which some times involve consumer participation instead of just a one-sided communication.
“This evolution in the way people consume information and connect with one another has also inspired brands to take steps in a new direction. It has encouraged these advertisers to evolve beyond one-sided communication and move towards designing participation,” Maheshwari said.
The digital marketing landscape in India is growing continuously and it is expected to grow manifold in future. According to a DAN Report, as of 2018, the Indian digital advertising market was pegged at Rs 61,878 crore and is estimated to grow with a CAGR of 10.62 per cent till 2021 to reach a market size of Rs 85,250 crore.
The speakers at the event opined that this being the age of millennials, digital would play a critical role to capture and engage with the new generation. This would also pose challenges for brands to connect with the audience and their imagination.