One Big Idea by Vivek Bhargava:Need to shift CXOs to digital

28 Feb,2013

By Vivek Bhargava, Managing Director, iProspectCommunicate2

 

One Big Idea? CMOs realizing that it is not about digital marketing any more and that India has now transitioned into a digital age.

 

I believe it is no longer about the reach of the internet – with about 32 million PANcard holders and 120 million internet users, the connected individuals control a lion’s share of the disposable income of the country. In less than three years the number of internet users is expected to reach 400 million.

 

The connected individuals are already spending more of their leisure time on the internet when compared to TV, radio and print. However, marketers continue to allocate a majority of their budgets to conventional media – I believe the primary reason for this is because most CMOs think digital marketing is only useful for customer acquisition.
The realization that we are now living in a digital age, and that digital delivers branding, community creation, information dissemination and consumer trends, is happening fast amongst the CXOs of India. This is demonstrated by the fact that I have met more promoters, CMOs and CEOs of large enterprises in the last two years than the first 13 years of my digital journey. Digital evangelists such as I are now getting more time with people who wield the power to move the needle.

 

Many of iProspectCommunicate2’s partners are already allocating more than 40% of their total marketing budgets to digital, and I believe that the same is expected with enterprises which are still using digital for only acquiring customers online. And I believe that all infrastructure needed for the digital tipping point has been laid, the only change required is the shift for CXOs of India onto digital.

 

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