People all over India come to the city of dreams in search of job opportunities and career growth. Mumbai’s fast-paced life and dense population make it a city full of challenges. Right from tech to fine arts, the city will always have something to offer to people from various walks of life. Digital Marketing is one such sector that holds the promise of expansion in Mumbai. It currently stands at 21.3 crore and has grown by 35.5% over 2020. Here’s why the demand for digital agencies in Mumbai will never go down:
1) Hub of Financial Companies
Mumbai houses the Reserve Bank of India, National Stock Exchange and the Bombay Stock Exchange. Additionally, some of the major names in finance like J P Morgan, Morgan Stanley, ICICI, Aditya Birla Capital, Hinduja Group, etc. can be found here. To maintain their status and standing in the market, these financial institutions need to leverage their marketing to agencies that can help them stay in high demand. Thus, digital marketing agencies in Mumbai often have a clientele consisting of financial companies.
2) The future of digital media
Mumbai’s Digital advertising is expected to equal if not surpass TV advertising by 2023. Thanks to digital streaming platforms, online booking portals, ecommerce, etc. living in Mumbai is now way more convenient. Digital marketing is therefore a worthy investment for companies willing to make the most of this opportunity.
3) Small & medium business
More than 1,30,000 SME companies have been established in Mumbai. Start-ups are beginning to emerge and so are job opportunities. Right from these small sized to medium sized companies, all have become increasingly aware of how digital marketing can act as a catalyst for their growth. It is more budget-friendly for these companies to outsource their marketing to agencies rather than investing in a marketing department.
4) Maharashtra - industrialised state
The pace at which the internet and technology are penetrating the lives of people living in Mumbai can be attributed to the industrial revolution in Maharashtra. The state contributes to 20% of the national industrial output and accounts for 46% of the GSDP. Owing to this, Mumbai is booming with IT parks and opportunities in the digital sector. Marketing has thus seen an exponential growth due to the contribution of digitalisation.
5) The pool of ad agencies and creative talent
Mumbai is full of creative minds. We have seen this hold true through years of cinema, art, fashion and theatre. Thanks to the high-quality education and job opportunities in digital media, one can easily make it into the field by developing the required skills. Therefore, there will always be an opportunity for job seekers and recruiters alike in Mumbai’s ever growing digital marketing industry.
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