I read advocacy of the phenomenal growth and potential of Digital Media industry in India. However do we know the challenges ? Here are some of them :
- Predicting the behavior on mobile platforms : Presently, most mobile experiences simply mirror the desktop experience, but when customer insights are reviewed one can easily see that behavior is different on the mobile platform. There will be a marriage of “big data” and mobile that allows marketing and product development departments to really grasp the opportunity to create meaningful and relevant mobile moments. This will require innovation, skill and the thoughtful application of user data, but it will be well worth the effort as it will generate more loyalty for the brands that do it well.
- Proving the efficacy of display advertising : Digital still remains the most measurable and trackable form of mass media and with the right metrics and methodology, it can provide marketers with much more insights than other media. But due to the oversupply of ad inventory, unscrupulous tactics by publishers and marketers to force feed ads down users’ throats, and the lack of progress the industry has made to show effectiveness beyond sheer click thru rate.
- Standardizing measurement for ad viewability : There’s no real consistency on how the overall industry measures results. The publishing industry is working hard to deliver the maximum value to advertisers for their investment. The issue we all face is how to move forward efficiently without getting bogged down in the act of reconciling the various measurement services.
- Structure the product management function in the organization : As seen several times in 2014, media companies struggle with this. It’s easy to see why: product management works across editorial and commercial, to focus on the users’ needs, the business’s goals and the organization’s capabilities. Helping editors understand product managers and vice versa and teaching them to work well together is absolutely essential for the success of digital media.
- Operational Issues : Publishers need to understand how to get the greatest yield from this channel of demand while evolving custom programs that can deliver value and performance beyond what can be bought and sold on the open market—with enough scale to make it worth the marketers time to consider. Marketers need to master the tech stack and techniques required to get real value from programmatic buying but not become so consumed by the complexities that they miss out on other digital advertising opportunities that can offer greater value.
Digital media consumption pattern has drastically changed since a decade ago when ringtones were expected to boost the music industry’s revenues. India has come a long way and its the tip of the iceberg. Hey, what about Digital Yoga or a new idea based on Marketeer’s own posture while proliferating on Digital Media to overcome the challenges…