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Flashback 2014: 2014 saw consolidation in the digital marketing agency space

31-December-2014
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Flashback 2014: 2014 saw consolidation in the digital marketing agency space

Digital was the buzz word in the media world in 2014. The growth of Digital has been significant and is expected to grab the attention of advertisers in all possible means. In conversation with exchange4media, Pradeep Chopra, CEO, Digital Vidya, a digital marketing training company talks about the emerging trends that he saw in 2014 and the challenges that the digital industry has been facing.

Q. What are the key highlights of the digital medium in the year 2014?

Digital Media grew significantly in 2014. In my view, key highlights reflecting the growth are:

• India crossing 300M internet users in 2014: According to a recent report published by IAMAI and IMRB, India will have over 300 Million Internet users by end of 2014. India took over 10 years to move from 10M to 100M Internet users. It took 3 years to grow from 100M to 200M and just 1 year to grow from 200M to 300M.

• Facebook crossing 100M users in India: In April 2014, Facebook crossed 100M users in India.

• Emergence of Billion Dollar Startups & Multi Billion Dollar Investments in Internet Startups: 2014 saw a number of global startups such as Olacabs crossing Billion Dollar valuation. It was also the year of multi billion dollar investments in companies such as Flipkart, Uber and also multi billion dollar acquisitions such as Whatsapp.

• Consolidation in Digital Marketing agency space: We also witnessed acceleration in consolidation in agency space. JWT acquired majority stake in Social Wavelength, Infibeam acquired Odigma, 22feet acquired by DDB Mudra and the most recent was  Sapient Nitro being acquired by Publicis.

• Professionals and Students realizing the importance of Digital Media as Career Choice: Till beginning of this year, majority of participation in our Digital Marketing trianing programs was from Business Owners or Marketing Professionals, whose objective was to learn Digital Marketing to contribute to the growth of their current organization. In 2014, we’ve seen significant participation from Students & Professionals, who are looking at building or accelerating their career in Digital Marketing industry.

Q. What are the challenges that the industry has been facing?

In my view, following are some of the key challenges faced by Diigtal Media industry:

• Penetration of Internet and Internet Speed: While there has been growth on both the fronts in 2014, I still feel that it could have been accelerated. For e.g. reliability of Internet Connectivity is still a concern even in Desktop environment.

• Adoption of Online Medium for Education: In Nov 2013, we stopped doing physical workshops as part of our public Digital Marketing training offerings and moved to online courses. While we are very happy about this decision, we still have to do lot of convincing to our course participants about the opportunity of online medium for education. It will be even bigger challenge for other non-tech or non-digital industries.

• Digital Media especially Social Media Policy Formulation: Majority of large corporations are still struggling to deal with Social Media policy for employees.

Q. Please name some of the top digital marketing campaigns that were executed in 2014 by brands

• Ice Bucket Challenge

• Elections in India: Emergence of AAP and Victory of BJP

• TVF’s Tech Conversations with Dad – e.g.

 

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