Digital marketing opens new opportunities for Indian technology players
Updated: Apr 01, 2014 12:29:03pm
New Delhi, Apr 1 (KNN) Digital technologies have opened up new opportunities for Indian technology players that require coordination with new stakeholders while modifying services to address new kinds of needs, a report said.
“Digital technologies are creating disruption in areas beyond those under the purview of the CIO. Clearly, new opportunities for Indian technology players are opening up, opportunities that demand closer coordination with new stakeholders in businesses and modify their services to address new kinds of needs,” said President, NASSCOM, R Chandrashekhar.
Releasing a report that reveals new avenues of growth for the Indian technology industry, “Technology players must review and streamline their services and offer customized solutions for modern business to make the most of the new opportunity,” he said.
The research report titled, ‘Marketing, Disrupted: Opportunities for the Indian technology industry’ was launched by National Association of Software and Service Companies (NASSCOM) and SapientNitro, in the first ever assessment of opportunities for the Indian technology industry resulting from the emergence of digital technologies.
The report finds that there will be USD 37 billion of CMO opportunity for the Indian technology industry by 2020, 17 per cent of which will be purely creative in nature. Also, the spend on digital marketing is expected to grow from current 8 per cent to at least 35 per cent of the total CMO spend by 2020. The rising interest in outsourcing creative marketing work and digital marketing opportunity are contributing to the huge addressable CMO market, a Nasscom press release said.
The report, the first of its kind, analyses the disruption caused by the rise of digital technologies in marketing and its implications for the Indian technology industry. It attempts to prepare this industry to leverage this opportunity by delivering value to the new stakeholder – the Chief Marketing Officer. Marketers are actively participating in decision making related to technology.
A significant 34 per cent of the marketers surveyed cited new tools/technology investment as one of the key concern areas.
Commenting on the report, “Over the past few years, SapientNitro has been at the center of the massive transformation in the brand-consumer space, caused by the emergence of the digitally empowered consumer. We are delighted to have partnered with NASSCOM in defining this new opportunity for the Indian technology industry. We believe this report will mark an inflection point in the evolution of the industry as it offers compelling insights into the current disruption in the marketplace as well as the way forward for industry participants," said Managing Director, Sapient, India, Rajdeep Endow.
The report envisages a strategic direction for Indian technology companies to streamline their services and products roadmap, in sync with the current requirements of CMOs by looking at the holistic picture, building in-house capabilities and forging seamless and symbiotic relationships with marketing agencies.
Further, the report also prescribes recommendations for global brands to remain relevant, connected and competitive in the new world.
Other highlights of the report are that technology share in CMO budget is increasing; over 50 per cent CMOs said spend on digital marketing and brand building will grow between 5 and 10 per cent over the next 12 months; and over 70 per cent CMOs find that their role in the CIO spends is growing.
In addition, 17 per cent of the estimated USD 37 billion opportunity for the Indian Technology Industry will be creative in nature; creative services alone is estimated to create an impressive 1,00,000 job market by 2020; and 8 per cent of global CMOs surveyed have ventured into outsourcing and are already engaged with Indian technology providers for creative work, while an impressive 38 per cent respondents are currently weighing the idea of outsourcing creative work. (KNN/ES)
“Digital technologies are creating disruption in areas beyond those under the purview of the CIO. Clearly, new opportunities for Indian technology players are opening up, opportunities that demand closer coordination with new stakeholders in businesses and modify their services to address new kinds of needs,” said President, NASSCOM, R Chandrashekhar.
Releasing a report that reveals new avenues of growth for the Indian technology industry, “Technology players must review and streamline their services and offer customized solutions for modern business to make the most of the new opportunity,” he said.
The research report titled, ‘Marketing, Disrupted: Opportunities for the Indian technology industry’ was launched by National Association of Software and Service Companies (NASSCOM) and SapientNitro, in the first ever assessment of opportunities for the Indian technology industry resulting from the emergence of digital technologies.
The report finds that there will be USD 37 billion of CMO opportunity for the Indian technology industry by 2020, 17 per cent of which will be purely creative in nature. Also, the spend on digital marketing is expected to grow from current 8 per cent to at least 35 per cent of the total CMO spend by 2020. The rising interest in outsourcing creative marketing work and digital marketing opportunity are contributing to the huge addressable CMO market, a Nasscom press release said.
The report, the first of its kind, analyses the disruption caused by the rise of digital technologies in marketing and its implications for the Indian technology industry. It attempts to prepare this industry to leverage this opportunity by delivering value to the new stakeholder – the Chief Marketing Officer. Marketers are actively participating in decision making related to technology.
A significant 34 per cent of the marketers surveyed cited new tools/technology investment as one of the key concern areas.
Commenting on the report, “Over the past few years, SapientNitro has been at the center of the massive transformation in the brand-consumer space, caused by the emergence of the digitally empowered consumer. We are delighted to have partnered with NASSCOM in defining this new opportunity for the Indian technology industry. We believe this report will mark an inflection point in the evolution of the industry as it offers compelling insights into the current disruption in the marketplace as well as the way forward for industry participants," said Managing Director, Sapient, India, Rajdeep Endow.
The report envisages a strategic direction for Indian technology companies to streamline their services and products roadmap, in sync with the current requirements of CMOs by looking at the holistic picture, building in-house capabilities and forging seamless and symbiotic relationships with marketing agencies.
Further, the report also prescribes recommendations for global brands to remain relevant, connected and competitive in the new world.
Other highlights of the report are that technology share in CMO budget is increasing; over 50 per cent CMOs said spend on digital marketing and brand building will grow between 5 and 10 per cent over the next 12 months; and over 70 per cent CMOs find that their role in the CIO spends is growing.
In addition, 17 per cent of the estimated USD 37 billion opportunity for the Indian Technology Industry will be creative in nature; creative services alone is estimated to create an impressive 1,00,000 job market by 2020; and 8 per cent of global CMOs surveyed have ventured into outsourcing and are already engaged with Indian technology providers for creative work, while an impressive 38 per cent respondents are currently weighing the idea of outsourcing creative work. (KNN/ES)
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