B2B Companies Rely on Digital Content Creation Due to COVID-19 Scare
Digital content creation has become a hot topic in the light of the COVID-19 (Coronavirus) pandemic. The viral outbreak has given many B2B marketers the opportunity to construct online marketing strategies. However, several companies in the digital content creation market have lost billions of dollars due to event cancellations and postponements of trade fairs. In a study conducted by the Center for Exhibition Industry Research, strategists in the digital content creation market pour millions of dollars to conduct exhibitions and industry shows, which is almost five times more than that is invested in online marketing. With growing awareness about the advantages of digital marketing, B2B companies are now turning toward online marketing to redefine their marketing messages, as numerous strategists are spending most of their time in home isolation due to the COVID-19 outbreak.
Since the end results of digital marketing are easily measurable, B2B companies are increasingly relying on online marketing strategies to capitalize on the flooding online traffic to gain greater visibility with individuals.
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Tech Giants Deploy Cloud to Accelerate Innovation in Media & Entertainment Industry
Cloud is being democratized for companies and individuals in the digital content creation market, thus enabling everyone to participate in the digital economy. Cloud has become capable of handling the media & entertainment industry workloads, as creators find it easier to convey stories more collaboratively. Correspondingly, the revenue of both cloud and the media & entertainment industry is anticipated for exponential growth in the digital content creation market, where the market is expected to expand at an explosive CAGR of 17% during the forecast period.
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Executive Vice President Judson Althoff of the multinational technology company Microsoft revealed that the company is collaborating with The Walt Disney Studios in order to pilot new ways of using the Microsoft Azure cloud platform to innovate in production processes. Thus, cloud is revolutionizing the media & entertainment industry in the digital content creation market by accelerating innovation in production and postproduction processes i.e. from the scene to the screen. India being one of the leading economies in the media & entertainment industry is grabbing the attention of global tech giants to deploy uninterrupted online streaming in the market for digital content creation.
How is Digital Embracing In-store Experience?
Many traditional retailers are heading toward bankruptcy and closing off stores, as they are not a part of the digital content creation bandwagon. Since retail buying habits have undergone a change during the previous years, retailers are integrating digital marketing strategies with in-store experiences. This explains why the market share of the retail industry is anticipated to take a leap from ~21% in 2019 to ~26% by 2027 in the market for digital content creation.
Software developers in the digital content creation market are increasing their R&D activities to enhance in-store experiences for customers. For instance, the Amazon Go™ stores have set the benchmark for innovating in their interactive digital platform, which is popular for its ‘grab & go’ format. Thus, leading retailers in the digital content creation market are floating engaging marketing strategies to encourage repeat purchases among customers.
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