Challenges the Digital Media Industry is Facing Today

Growing at a “too fast” pace comes with its own set of disadvantages, and that’s probably what we are seeing with the digital marketing industry.

While digital marketing has actually turned out to be something that’s transforming the way businesses market their products and services, it seems to have got to the point where its growth is leading to challenges that can often be hard to deal with.

Kartikeya Sharma iTV, a well-known name in the Indian media industry, walks us through some of the most worrying challenges.

Too much clutter

As the digital marketing industry grows, the number of digital marketing service providers grow as well. And while that may not really be a problem per se, but what is definitely a problem is that people and companies not qualified enough as digital marketers, too, enter the field due to just being attracted by the industry’s growth.

This is precisely what has been a reason for the kind of cluttered market it has become lately. If you’re a business looking for the right digital marketing service, there’s quite a possibility you will end up going with the wrong options the first couple times before finding one that fit the bill well for your business.

Too dynamic

Any industry that adopts from time to time is believed to be a sign of a healthy industry; however, when an industry changes so fast that it often doesn’t give enough time for the people involved to learn to adapt to the changes, it becomes a problem.

We have been seeing things change on a monthly basis in the digital marketing world, and it’s definitely turning out to be hard to keep up with.

Lack of skilled workforce

As it’s so hard to keep up with all the changes that keep getting introduced out of nowhere, there are not many employees in the industry that can be considered “reliable” for a digital marketing job.

This has apparently led to a significant lack of qualified workforce in the industry.

How to Grow Your Business Faster?

If you’re thinking of expanding a new business you may have recently started, know that you may have just as much work to do as you did when starting it. This is because expanding for a new business was and will always be very challenging, what with the limited capital, increased instability and the more and more demanding role that must be played by the founder.

But entrepreneurs like Anand Mishra Indian entrepreneur have did it. And you can do it too. So if you’re ready for the struggle, here are a few tips to make things much easier for you.

Focusing on Your Current Customers

Growing your business doesn’t have to mean you should shift your focus completely on getting new customers. In fact, your old customers are much more likely to be your “new” customers again, if you have something relevant to offer.

So before you go marketing to gain new customers, you might as well want to get in touch with your old customers and asking if they would be interested in your new product or service.
This may help you get a good few clients right off the bat, putting you be in a much better position to make your expansion plans successful.

Researching the Target Market Carefully

Not all target markets are alike. Just because you were successful in serving your first target market well doesn’t mean you will naturally be successful in your other target markets.

This is because there may be many factors that differ greatly. The competition, the nature of the customers and their expectations, the regulations in that particular area and so on.
So make sure you do enough research to understand the target market well instead of having the same approach to it as your initial target market.

Utilizing Digital Marketing

While we are not against traditional marketing strategies, digital marketing is turning out to be a much more effective – both with respect to gaining new customers and the costs involved – as a way of marketing. It would probably be a mistake to not utilize it and instead spending heavily on traditional ways of marketing.