“If you come across market like India, the Google advertising market is about 8 percent from the total advertising cost,”
“Sri Lanka spends 4 to 5 percent from the total advertising cost into digital marketing.”
He was speaking at a press conference held recently to announce the “GroupM circuit Colombo 2014”, a forum to discuss about the issues and marketing tools in digital media. The conference will held today at Colombo.
Srinivas said markets like Australia, United Kingdom and United States spend 20 to 25 percent from its total advertising cost in digital media.
“The amount of the money spends on traditional media is coming down,” he said.
“Australia, UK and US spend more than 20 -25 percent in digital media. That are the numbers in more mature market,”
“For example, the largest medium for advertising in UK is Google. Google has more advertising than all the print publication and Television channels.”
Digital advising or internet advertising is used by companies to leverage internet tools or electronic devices to deliver promotional campaigns. Devices like personal computers, smart phones, cellphones, tablets and platforms such as websites, e-mail, apps, social media networks is been used to engage continuously with stakeholders for advertising.“One highlighting thing in the market like Sri Lanka and India or South Asia, you will very soon witness the four percent or eight percent will up 20 percent or more due to mobile penetration.” Srinivas said.
About 6.8 million people in the world use smart devices and 1.7 million people use social. More than 400 million people use twitter globally, data showed.
About 20 percent of the population use smart devices in Sri Lanka.
A recent report said that the Island’s mobile market surpassed the 100 percent subscriber penetration in early 2014.
“Mobile penetration is very high in this part of the world,” Srinivas said.
“We have mobile phones in Sri Lanka than people. The mobile penetration has exceeded 110 percent. India also has gone up to 80 to 90 percent mobile penetration,”
“So because of the mobile penetration and the time that people spending on the mobile phone, it’s only a matter of time for advertisers and brands to switch to digital,”
“This is the time that market needs to understand how to use digital, whether you want run the same advertisement that you run on television in digital, how do I target this digital segment of people,” “So when gates open up all the advertisers are prepared.”
According to this latest published report by internetlivestats.com, Sri Lanka is ranked 74th among 198 countries, in terms of total internet users.
The report says the Island has about 4,267,507 internet users sourcing data from International Telecommunication Union (ITU), United Nations Population Division, Internet & Mobile Association of India (IAMAI), and the World Bank.
Sri Lanka has about 2.4 million face book users.