Budgets are the biggest barrier to the growth of digital marketing in India: MMA – WARC report
According to MMA – WARC report, 67% of marketers expect the metaverse to significantly impact digital marketing in the next five years.
MMA APAC, the not-for-profit marketing trade body which is a part of MMA Global, in collaboration with WARC has just unveiled a report titled – The State of Modern Marketing in India 2022. This report highlights the challenges faced in the modern marketing industry, current trends, and future opportunities. To drive growth in the digital age, marketing needs to modernize a specific set of capabilities and mindsets.
Findings from this study suggest that over a third (36%) of Indian marketers will spend more than 60% of their budgets on digital marketing, compared to 25% of APAC marketers overall.
It further says that budgets (36%) are the biggest barrier to the growth of digital marketing in India.
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Other key findings:
- Two-thirds of marketers expect the metaverse to significantly impact digital marketing in the next five years.
- Around a fifth of marketers currently use AR/VR to drive improvements in marketing, but over half expect it to be the most significant technology for marketing in two years’ time.
- The removal of third-party cookies and the continued impact of Apple’s ATT are seen as more significant to Indian marketers than those elsewhere in APAC.
- Multiscreening has overtaken m-commerce and watching the video to become the most significant consumer behaviour for the marketing industry in India.
- A majority of marketers are using data analytics and collection to drive improvements in their digital marketing.
- Over two-thirds (67%) of respondents highlight brand awareness as a key priority in digital marketing.
- Almost half (48%) of Indian marketers have used Facebook or YouTube for display advertising.
- YouTube is the top streaming service in India, with 79% of Indian internet users saying they use it.
- Over four in five (82%) expect digital marketing budgets to increase over the next year, compared to 67% across APAC.
- Multi-screening has emerged as the most significant consumer behavior (60%), doubling in perceived significance in India since 2021 (31%).
- Budgets (36%) are the biggest barrier to the growth of digital marketing in India.
- OTTs are seen as one of the most significant consumer behaviors in India, more so than across the rest of APAC.
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