Digital Marketing in Bangladesh: Prospects and Challenges
Shabab Junayed, External PR(intern)
A good number of people are now using the internet in Bangladesh. The urban people are very tech-conscious. According to Bangladesh Telecommunication Regulatory & Communication (BTRC), more than 90 million people are currently using the internet in the country. Realizing that a large number of people are surfing the web every day, various businesses have modified their marketing practices and turned their focus to digital marketing.
Digital marketing is the stage for all of us. The Digital Marketing industry is growing step by step. Top companies are moving closer to digital marketing trends. To understand what Digital Marketing exactly is let’s dive into deeper.
What is Digital Marketing?
Digital marketing is the promotion of goods or services using digital technologies, primarily on the Internet, but also includes cell phones, advertisement displays and any other digital media. The growth of digital marketing since the 1990s and 2000s has changed the way brands and companies use marketing technologies.
When you get down to it, digital marketing is just marketing. It’s how today’s companies are getting their message in front of their best prospects and clients.
The very first rule in marketing is to make the right offer at the right time and in the right place. Today, your customers are online: hanging out on social media, keeping up-to – date on news pages and blogs, and searching online when they need to.
Digital marketing places you on the same platforms, so that your best customers can see you, know more about you, and even ask questions to learn more about you and your products or services.
If you’re new to digital marketing, you may find it daunting to think about mastering all the online marketing techniques used in digital marketing. I found it overwhelming at first too. There are many tactics that you’ll need to learn. But they all work together to build a base for your business: attracting customers, maintaining relationships, and creating deals that your audience will appreciate and respond to.
Why Lean Towards Digital Marketing?
With advanced growth in marketing technology, businesses are seeking to sustain their revenue stream either by adding online components to their brick-and-mortar stores or by merging numerous digital marketing strategies to enter the lucrative online marketplace.
As most consumers now use smartphones and research products online before they make purchases, it has become crucial for these businesses to have digital marketing plans in place to reach their respective target audiences. However, smartphones and online analysis are not the only reasons why businesses across the globe have turned to digital marketing. They are using these strategies to more effectively target audiences online. Many are seeing a significant return on investment (ROI).
- Effective Audience Targeting
With digital marketing, marketers can use data more effectively to target consumers based on factors such as gender, age, place, interest and education, and can reach potential customers who are already familiar with their brand using different approaches and messages for each audience segment. Advanced online marketing certifications are available to help digital marketers master this craft.
- Small Investment, High Revenue
The cost per lead for digital or inbound marketing is 61% cheaper than conventional marketing. Businesses that advertise on social media, use paid searches and other marketing tactics spend significantly less on their promotions, largely because they use pay-per-click (PPC) strategies to keep costs down and keep their particular audiences up to date. Usually, their ROI is not only higher, but more immediate.
- Reaching Mobile Users
There are more than 10.01 Billion mobile connections worldwide, which is more than the world’s population. And at the end of April 2020, the number of mobile subscribers in Bangladesh reached 162.920 million, according to the data provided by BTRC.
Because most of today’s smartphones have internet access, it is easier than ever for businesses to reach potential customers anywhere, anytime.
Scope of Digital Marketing in Bangladesh
Digital marketing has exploded over last few years. Currently, there are almost 81.66 million internet users and over 30 million users are currently active on social medias in Bangladesh. The rate of active social media users has been increased by 15% since 2017.
They are taking the leap into this brave new world through either Business-to-Business (B2B) or Business-to-Consumer (B2C) digital marketing:
- B2B: In order to generate leads, B2B marketers rely on web traffic but are also active on social media sites such as LinkedIn and Twitter. They also frequently rely on PPC promotions to meet target audiences cheaply.
- B2C: B2C marketers concentrate on increasing brand recognition and drawing consumers to their websites and products using social media such as Facebook, Twitter, Instagram and Pinterest.
In addition to social media, businesses use paid search, email marketing, and other strategies to reach new audiences.
Digital Marketing Careers in Bangladesh
Digital Marketers are responsible for following trends. Trends that evolve every now and then as more companies enter the market and new technologies are born.
Digital Marketers follow these trends and integrate these patterns into their strategies. They rely on digital marketing as a credible, powerful, measurable and user-friendly medium –and as businesses begin to pursue the online market more broadly, more jobs than ever are available to meet these needs.
Digital marketing positions include social media marketing specialists, PPC specialists, digital marketing consultants and SEO specialists. Bloggers and YouTubers can also find themselves writing and vlogging professionally in the digital marketing field.
Careers are available in the digital marketing sector, but a strong understanding of these strategies and tactics is necessary to become an expert in the field. Through dedicated online learning, marketers can learn social media, PPC, SEO, web analytics, email, and content and mobile marketing tactics to be able to launch effective campaigns and manage them.
Challenges of Digital Marketing in Bangladesh
Infrastructure is the biggest challenge of expanding digital marketing in Bangladesh. And the greatest challenge to expand digital marketing is to get all the key players in the ecosystem working together. The ideal situation is to put all stakeholders, including government, business, advertising agencies, media and technology players, under the same platform, to face all the challenges together in order to make the dream come true.
Digital transformation is in full swing, and businesses are doing their best either to stay one step ahead or at least maintain pace with the crowd. This change is also growing, even among industries that were historically reluctant or laggards in adoption.
Consumers use multiple digital channels and a range of devices that use various protocols, configurations and interfaces – and communicate with them in different ways and for different purposes.
Digital technology is slowly changing the fabric of our lives. Whether it’s how we interact, what information people ingest, or how they absorb information is constantly evolving. This pattern is only likely to continue and develop in the future. Product and service businesses are changing the way they use the online channel and are engaging directly with their customers. This is bound to grow.
In conclusion, there is no alternative to digital marketing in this pacy world. Different businesses, including in our country, are now offering high-quality customer care and establishing new frontiers in the field of digital marketing.