What? Market observers have been sifting through the financial tea leaves for years looking for the next “black swan, ” that most extraordinary and unlikely event that will cause the financial markets to tumble. Dozens of possibilities ranging in scope and scale are found all over the map, literally: Euro zone, China, Japan for their challenging economies; North Korea, Russia, Iran, Syria, Venezuela for their geopolitical implications; stock bubbles, bond bubbles, auto loan bubbles, student loan bubbles, municipal bond and pension bubbles, and so forth.
What about the bubble in digital/online internet advertising? Many recent and prospective fortunes are tied to the continued rapid rise in digital advertising, but bumps seem to be popping up along that otherwise clear path. Recent reports are that a significant share of “customer clicks” is the result of “bot traffic” (internet robots), not actual customers. Estimates are that businesses have lost more than $16 billion due to ad fraud this year alone Digital Global Times. Even more significantly, it would appear that corporate America is beginning to question the effectiveness of digital ads as a marketing tool. Proctor and Gamble recently reported that notwithstanding its decision to reduce its online advertising budget by $100 million in the June 2017 quarter, the company saw no difference is sales. Those trends should be disturbing to stakeholders in the digital ad business.
So, what’s the big deal? The fact is that since the beginning of this century much of the robust economic growth of mature global economies in many industries has come from the growth of the internet, in one way or another. Much of the optimism about future economic growth stems from its continued expansion. The problem is that much of that activity is paid for with revenue from digital ads, and the fate of many of the fastest growing and most valuable companies on earth, like Google and Facebook, are tied to ad revenue growth. The world as we say at current day scenario has turned into a digital cosmos. In each and every nook and corner, our universe is connected digitally and this situation has lead to the formation of what we today know as “digital drive”. Digital drive has bound the vast universe to surrender into one single platform in terms of communication and connectivity. The Global Centre for Digital Transformation says or explains that change in an organizational structure is the foundation of digital business transformation”. Digitalization is transforming every aspect of human life. We are thriving in an era where mass production has been hooked by mass customization, where human intelligence has lead to the development of a totally different world that is known to be world of digitization. The global society in current day scenario is thriving in the frontiers of digital age. The form or concept of digitization has entered in almost every field including that of marketing and advertising communication process.
While talking about digitization and digital marketing it is pertinent to know what is digital marketing? To define digital marketing it can be said that it is the use of digital technology or digital platform for communicating marketing messages to targeted customers and at the same time to allow or to accept valuable opinion and feedback of customers by using the platform of digitization and digital media. Digital media keeps a scope for or provision for audience interaction. The internet can be denoted or acts as the main medium for digital marketing. It can be said that internet is the cosmos in which information is disseminated and it is through the use of our smart phones and PC s that we can get or receive access of the information being disseminated.
The best part of about today’s digital world or global media is that a person residing in a remote corner can gain accessibility to the digital world with the help of advanced technologies and innovations can reach out to the latest information. If we talk particularly about India then many metropolitan countries, as well as Suburbs, has developed a lot in terms of Information technology and related business.