36% of Indian marketers will spend more than 60% of their budgets on digital marketing: Report | The Financial Express

36% of Indian marketers will spend more than 60% of their budgets on digital marketing: Report

Two-thirds of marketers expect the metaverse to significantly impact digital marketing in the next five years, the report highlighted

36% of Indian marketers will spend more than 60% of their budgets on digital marketing: Report
The report is based on an online survey of over 100 marketing professionals, carried out between July and September 2022.

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, according to ‘The state of modern marketing in India 2022’ report by MMA APAC in collaboration with WARC. As per the report, over two-thirds (67%) of respondents highlight brand awareness as a key priority in digital marketing. Meanwhile, over four in five (82%) expect digital marketing budgets to increase over the next year, compared to 67% across APAC.

The report further highlighted that 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. It also added that multi-screening has emerged as the most significant consumer behaviour (60%), doubling in perceived significance in India since 2021 (31%). Interestingly, budgets (36%) are the biggest barrier to the growth of digital marketing in India.

Interestingly, two-thirds of marketers expect the metaverse to significantly impact digital marketing in the next five years, the report highlighted. Around a fifth of marketers currently use augmented reality (AR) or virtual reality (VR) to drive improvements in marketing, but over half expect it to be the most significant technology for marketing in two years’ time. What is also to be noted is that 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, the report stated. A majority of marketers are using data analytics and collection to drive improvements in their digital marketing, it added.

The report is based on an online survey of over 100 marketing professionals, carried out between July and September 2022.

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First published on: 02-11-2022 at 15:40 IST