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A
REPORT
ON
UNDERSTAND
THE ECOSYSTEM IN DIGITAL MEDIA MARKETING
By
___________
Enrollment
No. ____________
A
report submitted in partial fulfilment of
the
requirements of
_______
Program of _______
Date
of Submission: ________
DECLARATION
I, ____________, enrollment no: _________, hereby declare
that this project work entitled “Understand the ecosystem in digital media
marketing” is my original work.
I further declare that this report is based on the
information collected by me and has not been submitted to any other university
or academic body.
Date: ________ ________
Contents
1)
INTRODUCTION
Advertising
in business is a form of marketing communication used to encourage, persuade,
or manipulate an audience to take or continue to take some action. Most
commonly, the desired result is to drive consumer behaviour with respect to a
commercial offering. Advertising is defined by Richard F. Taflinger as “Advertising is the
non-personal communication of information usually paid for and usually
persuasive in nature about products, services or ideas by identified sponsors
through the various media." [1]
Advertising is normally done
by a third party known as advertising agency.
An advertising agency is
a service based business dedicated to creating, planning, and handling
advertising for its clients. An ad agency is independent from the client and
provides an outside point of view to the effort of selling the client's
products or services. An agency can also handle overall marketing and branding
strategies and sales promotions for its clients. [2]Types of ad agencies are
Ø Full
service agencies
Ø Creative
agencies
Ø Specialized
agencies
Ø In-house
agencies
Ø Digital
agencies or new media agencies
This
report is completely discussing about digital or new media agencies. There was
a time when Television was the most popular medium for Marketer to promote,
spread awareness and generate leads for their products but now the trend has
changed and Digital media has taken its place. Main reason for this change was
Ø Traditional
methods are expensive. Compared to digital marketing channels, you could end up
spending thousands of dollars more.
Ø Traditional
marketing channels fail to provide instant feedback and reports about who saw
or heard an ad, and took action. This data is collected long after the initial
ad impression is made (and still then, the statistics are far from exact
numbers).
Digital
marketing, on the other hand, refers to marketing methods that allow
organizations to see how a campaign is performing in real-time, such as what is
being viewed, how often, how long, as well as other statistics such as sales
conversions.
1.1)
Digital Media
Marketing or Digital Marketing
The
term 'digital marketing' was first used in the 1990s. In the 2000s and the
2010s, digital marketing became more sophisticated as an effective way to
create a relationship with the consumer that has depth and relevance.
Digital marketing was defined in
Wikipedia as “marketing that makes use of electronic
devices (computers) such as personal computers, smart phones, cell phones,
tablets and game consoles to engage with customers. Digital marketing applies
technologies or platforms such as websites, e-mail, apps (classic and mobile)
and social networks”. [3]
Peoples
often referred digital marketing as 'online marketing' or 'internet marketing'
but it’s wrong. Digital marketing revolves around the Internet, which explains
why people tend to believe that digital marketing and Internet marketing are
synonymous. Nonetheless, they are different. Internet marketing falls under the
category of digital marketing. Internet marketing encompasses digital marketing
services such as search engine optimization, display advertising, and email
marketing.
1.2)
Isobar India
Isobar
is a global digital marketing agency with a total of 63 offices in 37 markets
worldwide. The agency is a wholly owned subsidiary of Dentsu Aegis Network and
is sister agency to Posterscope, iProspect, Carat and Vizeum.Dentsu.
Isobar
is a modern communications agency network, made up of a committed and diverse
group of over 3,000 digital pioneers in 37 markets. Established in 2003, Isobar
is the global home for the world’s finest digital pioneers and the smartest
traditional marketing talent, that helps connect brands with their fans and
customers by creating irresistible ideas combining creative, planning,
technology and data.
1.3)
Client Servicing
Heart
part of this project is dealing with client servicing. A client servicing is
the face of an advertising agency. Responsibilities of client servicing include
understanding the client’s needs and expectations. In fact, the advertising
process begins with the client servicing person visiting the potential client
for a brief. He then needs to communicate this to his agency. His job is to
hunt for new business and be a bridge between the agency and the client.
Key responsibilities of client servicing are
managing internal workflow and developing strong partnerships with clients.
Other responsibilities include liaising with the clients on all aspects of
marketing communications, briefing agency departments, presenting proposals to
clients, managing advertising spend budget, keeping clients up-to-date on their
own and competitive activity, occasionally negotiating with media on
client’s behalf and approaching
prospective clients whose accounts are under review.
1.4)
Scope of the
Internship
1)
To understand the element in
digital media
2)
To understand the effectiveness of
branding through digital media
3)
To understand the effort behind
fulfilment of brands objective through campaigns
4)
To choose appropriate media for
communication
5)
To maintain relationship with
clients
6)
To understand the Target Group for
different brands
1.5)
Methodology
For
accomplishing this internship, I used two methodologies. One is working as a
client servicing executive in Isobar India and another one is a research to
understanding the consumer buying behaviour of Indians in digital era using an
online questionnaire.
1.5.1)
Client servicing
CAGR
of 14.2 per cent. [4]
By
the end of 2014, the industry is expected to stand at Rs 1039 billion.
Additionally, digital advertising has shown promising growth in 2013 while
comparing with 2012, which is about 38.7 per cent, followed by gaming which
grew by 25.5 per cent. As for the 2018 prediction: Digital advertising is
expected to lead the CAGR with 27.7 per cent, followed by radio with 18.1 per
cent. Gaming and television are expected to register a CAGR of 16.2 per cent
each, followed by growth rates of animation and VFX (15.9 per cent), music
(13.2 per cent), films (11.9 per cent) and OOH with 9.2 per cent expected CAGR.
[4]
According
to the annual advertising expenditure report from GroupM, The digital media advertising revenues for the year 2013
is estimated at Rs 2,520.1 crore (around $405 million) , up 30% from Rs 1,938.6
crore in 2012,. Digital contributed to 6.5% of the total media advertising expenditure
in 2013, up from 5.5% share in 2012. [5]
The
agency estimates that the digital media advertising revenues to reach Rs
3,402.2 crore ($546 million) in 2014, registering a 35% growth year on year.
This will represent around 7.9% of the total media advertising expenditure in
2014, which is estimated at Rs 43,065.4 crore. The company notes this will be
driven by election spending by the government and political parties across all
media. GroupM made the prediction in the latest edition of its annual
report This Year, Next Year. Digital media were projected to increase 35%, with
TV slowing to 12% from last year’s 14.6% and print picking up to 8.5% from 4.6%
in 2013. [5]
Digital
ad spends accounted for 8.3 percent of the total ad spends of Inr362.5 billion
in 2013. Digital media advertising in India is grown by 38.7 per cent in 2013,
faster than any other ad category. [6] With the dramatic growth in mobile
usage, content providers and advertisers are seeking opportunities to get their
message across on this preferred medium of the masses.
It
is estimated that the total internet user base will reach 494 Million by the
end of 2018 as against 938 million TV viewers in the same year. This means that
the internet user population will be approximately 53 per cent of the total
number of TV viewer in the country in 2018 compared to 27 per cent in 2013. [6]
This shift towards the digital media is important for digital media strategists
to consider, in order balancing their marketing budgets between online media and
traditional TV strategy.
IAMAI
& IMRB report of March 2013 showing trends in breakup of Digital ad market
among various ad types like search ads, display ads, mobile ads, social media
ads, email ads and video ads. By seeing this breakup we can understand marketer
are giving importance to all venues to place ads. [7]
Some
of the key players in the Digital advertising are Ogilvy & Mather,
Webchutney, IBS, Isobar, Maxus, 22 Feet, Grey Digital, Mind Share, Interactive
Avenues, Omnicom Media Group, Digital Law & Kenneth, Pinstrom.
2.1) Business Model of Industry
ATD- Agency Trading Desk DSP- Demand Side Platform SSP- Selling Side Platform
About Process
Clients
would give authority to agencies, to wear the shoes of clients. Agency will create
ads, which may be banner ads or videos. After the creation and getting approval
from clients, agency while find out the portals or websites where the T.G is
present. Later give the order to DSP or ATD, this order contains details
regarding where to place ads or which portal is requiring to placing the
ad. This DSP/ ATD will bid in ad
exchange for that portal. Otherwise agency can directly approach to ad networks
and give orders. These ad networks buy the inventories from publisher and give
to agency. From publisher view he can sell inventories through Ad networks or
through SSP. If publisher give to SSP, they will place those space in ad
exchange for bidding. Through ad exchange DSP/ATD will buy those inventories.
Bidding will not only for space but also for T.G which required for clients.
Ad exchanges
are technology platforms that facilitate the bids for buying and selling of
online media advertising inventory from multiple ad networks. The approach is
technology-driven as opposed to the historical approach of negotiating price on
media inventory.[9]
A
demand-side platform (DSP) is a
system that allows buyers of digital advertising inventory to manage multiple
ad exchange and data exchange accounts through one interface. Real-time bidding
for displaying online ads takes place within the ad exchanges, and by utilizing
a DSP, marketers can manage their bids for the banners and the pricing for the
data that they are layering on to target their audiences.[8] A supply-side
platform or sell-side platform (SSP) is a technology platform, web
publishers of the world use a supply-side platform to automate and optimize the
selling of their online media space. [9]
1)
REFERENCES
1)
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2)
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3)
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7)IAMAI
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[Accessed on 10 April 2014]
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JU,2013. Online Advertising Explained:
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TOI,2013.With 243 million users by 2014,
India to beat US in internet reach: Study. [online] Available from: http://timesofindia.indiatimes.com/tech/tech-news/With-243-million-users-by-2014-India-to-beat-US-in-internet-reach-Study/articleshow/25719512.cms [Accessed on 10 April 2014]
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Consumption [pdf]
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