According to a recent survey, India is currently witnessing an annual growth rate of 25% to 30% in digital marketing. Moreover, internet users in the country have reached around 500 million by the end of 2018, which indicates the rise in online portals, social media marketing, high-speed digitisation, etc.
With the introduction of the ‘Digital India’ initiative in 2015, there has been a drastic increase in online empowerment and digital infrastructure in India. This has led to rapid growth in digital marketing start-ups and services.
Among various states in India, Mumbai consists of several renowned digital marketing agencies that are renowned for their high-quality consultancy; as an entrepreneur, you can avail an unsecured business loan in Mumbai to set up your own digital marketing company.
Impact of digital marketing in business models in India
The following are some benefits of digital marketing and how it impacts business modules that incorporate it –
Increase in brand awareness
More than half of the entire population of the world are active in several social media platforms. This makes such platforms one of the important places for any business to connect with potential customers. So, any enterprise can improve its brand awareness through digital marketing.
Around 60% of social media users have come across products they are willing to purchase while browsing their profiles. This states that customers not only connect with the brands but also discover newer products on social media platforms.
Improvement in sales
The number of social media users in India is ever-growing, which means that the rise in digital marketing is bound to improve. Hence, any business that adopts an efficient digital marketing strategy can surely attract an increased number of potential customers.
However, there several costs involved in running a business in Mumbai, Kolkata, Delhi, etc. any other states. Hence, implementing a marketing strategy may require additional funding.
For that, firms can avail the help of an unsecured business loan in Mumbai. Borrowers should make sure to learn about the mistakes to avoid when applying for a business loan.
With the help of digital marketing, discussion on topics regarding your business is exposed to audiences from all across the country. When such content starts to gather substantial viewers, followers, etc. it has a chance to receive significant exposure if people share your content in various social media platforms in volume. In such a way, information regarding your business starts to be shared in several networks.
For businesses in Hyderabad, implementing a robust digital marketing strategy and garnering exposure is one of the ideal ways to create leads. If you have availed a small business loan in Hyderabad, you can also utilise the funds to incorporate such strategies. Make sure to use an online business loan EMI calculator to calculate your monthly instalments and opt for a tenor as per your financial capability.
Better customer feedback
With the help of social media, enterprises can interact directly with the end-user and vice versa. When traditional media restricted customers in providing constructive feedback to the producer, social platforms creates the opportunity for a brand to know the demands of the audience easily.
Hence, companies need to possess a digital marketing platform to build a gateway for customers to feel like a part of the brand. An analysis by Label Insight states that businesses that have a transparent marketing system are rewarded with 94% of their consumers who are eager to stick with the same seller and 73% of them willing to purchase a new product released by the company.
To instil the above benefits in your sales department, you need to incorporate a digital marketing branch in your company. As a business owner, you may require additional funds to adopt such marketing system in your company, which can be done easily with the help of a Business Loan from leading financial institutions like Bajaj Finserv.
From the above discussion, you can understand that in order to be successful, every business needs to grow alongside evolving technology while investing in digital media that will help to build a strong commercial relationship with the customers. Opt for an unsecured business loan in Mumbai and develop your marketing strategies with the help of digital media.