The aftermath of the pandemic is diminishing and once again, brands are attempting to maximise the advertising potential of the holiday season. After two years of Covid-related restrictions, the consumers are in full throttle this season, which is a treat for the brands. Industry insiders predict that over the festive season, advertising spending will increase by 8–10% to between Rs. 25,000 and Rs. 30,000 crores. Read to know where to put your money, this season!
Print and out-of-home (OOH) media spending will increase, however TV and digital will continue to account for the majority of media spending. E-commerce, automobiles, fintech businesses, banking, financial services and insurance (BFSI), online gaming, including fantasy sports, food-tech services and retail will be the main sectors.
For firms that have battled through 2020, digital marketing during the holiday season offers a glimmer of hope. They must take advantage of this chance to enter the market once more.
With a projected rise of Rs 48.6K crore compared to TV's projected growth of Rs 42.3 crore in 2022, digital is expected to surpass TV in India. Digital advertising is predicted to account for 45% of all ad spending in 2022 and is projected to increase by 22% from the previous year.
Let's look at some digital marketing strategies that brands can use for the upcoming festive season:
1. Remarketing & Email MarketingUse email marketing and remarketing because 96% of visitors depart websites without buying anything. Remarketing ad campaigns and email marketing can help in this situation.
2. Video MarketingCompared to text and graphics, video gets 12x more shares. Worldwide, 51% of marketing experts select video as the content format with the highest return on investment. So, if you're stuck between two content types, choose video!
3. Early planningMaking advance preparations for your campaigns will always give you good results! Prior to the celebrations or festivities, your target market should be thinking about your brand and its products.
4. Influencer marketingMany followers give their complete attention to well-known social media influencers today. On numerous social media sites, they have a significant online presence and let your brand also enjoy this benefit.
5. HashtagsTake advantage of hashtags' popularity and usefulness across all channels, especially Twitter and Instagram. You can spread the word more widely about the seasonal deals and the products you have to offer. A hashtag for the audience will also make it simpler for you to keep a track of the user-generated content.
With the change in consumer behaviour, spending patterns and preferences, it is quite clear that going digital is the way of the future. So, make your Diwali and other festivities lots of leads-wali by spending your ad budget in the right place and the right way!