What is MBA in Digital Marketing? Scope, Career option and Salary

Digital marketing focuses on leveraging online media tactics like social media marketing, search marketing, and email marketing to build brand awareness and expand the customer base. 

An MBA in Digital Marketing equips professionals with the skills to use these strategies effectively. Digital marketing channels your customers through social media platforms like Facebook, Instagram, and Twitter, along with traditional marketing channels, to create a more comprehensive marketing and brand strategy.

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Creating an online presence is crucial for brands to keep customers updated on the product offerings, generate awareness and engagement before and after sales, invite new buyers, shorten the buyers’ cycle, and convert leads into buyers. 

What is MBA in Digital Marketing?

MBA in digital marketing is the new age course building upon traditional marketing principles to cover the marketing sectors in the digital age. An MBA in Digital Marketing course trains students with the skills and information required to form successful digital marketing strategies, enhancing their creative skills and expanding their knowledge of digital platforms to market products/services. Graduates in this course can help companies formulate digital marketing strategies and develop effective ways to interact with their targeted group of customers.

This course incorporates Marketing, Administrative Behaviour, Fundamentals, Business Communication, Selling and Negotiation, etc. Although it expands upon traditional marketing, it mainly focuses on digital media – it does not involve any study of traditional marketing strategy. MBA Digital Marketing subjects include marketing fundamentals, mobile marketing, business communication, marketing analytics, accounting and finance, strategy formulation, international business, etc.

Scope of Digital Marketing

Digital marketing has emerged and grown as the fastest mode of marketing, reaching a wider group of people. The scope of an MBA in Digital Marketing is vast, allowing candidates to specialize in areas like marketing and advertising and pursue a career in any industry they choose.

The final aim of companies is to retain old customers and find new customers. Digital marketing is the most effective medium for reaching and influencing customers through digital media. Companies now stay current by adding new components with the evolving social network, as most consumers use smartphones and online research before buying any products or investing in any services. Digital marketing is employed by every small business and established company to create highly personalised marketing strategies for attracting target customers. These strategies offer greater and faster Return on Investments (ROI) with low investments.

Data shows that more than 9 million companies and businesses use Facebook to connect to their customers or consumers. This makes media platforms a very important medium for digital marketing.

Companies on social media platforms host B2B ( business to business) and B2C ( business to consumer)  digital marketing strategies. B2B targets companies or groups of people with large investments, whereas B2C targets individuals consumers, raising brand awareness. In addition to these social media marketing, these firms employ the following methods while building their brand’s online presence and maintaining its identity.

• Paid searches– Marketing sectors pay Google and other search engine companies a fee whenever someone searches your keyword, and their advertisement is featured at the top of the page (PPE MODEL- pay per click model).
• Organic or natural search– This approach takes more finesse than regular PPE marketing since marketers are implementing keyword analysis and other search engine optimization (SEO) to naturally show their content at the top of the page of search results in Google or other search engines.
• Email marketing campaigns: It is the most effective and efficient way of marketing campaigns if appropriately implemented. Even small businesses can use email marketing.
• Content marketing: Publishing articles, guides, and other online content in different formats that target different audiences and customers.
• Webinar and podcasts: Extending upon content marketing, webinars and podcasts offer value to the customers in the form of video and audio content for broader marketing campaigns.

The scope of digital marketing is only set to expand in the coming future. This will happen with the help of-

• Analytics– Data analytics plays a huge role in quantifying the success of digital marketing strategies. Analytics helps you measure your progress by using tools to see how well your content performs if you’re reaching the targeted audience, how to get the best engagement, and why the audience is converting into paying customers.
• Artificial Intelligence(AI)– Artificial Intelligence helps companies understand the customers better and customise their products accordingly. This will largely affect the digital marketing sector in the coming decade. AI helps in detecting and predicting trends, sometimes even micro-trends. This helps in business leaders making strategic decisions to expand their services and products. This also makes sure that companies don’t waste their resources of digital marketing that doesn’t give results and ensure better delivery and results in the best possible way.
• Augmented and Virtual Reality– AR and VR will be used to raise brand awareness and better satisfy customers to bring huge profits to the company. Augmented Reality and Virtual Reality enable potential customers to experience your products/services virtually in real-time. They can enjoy simulated experiences which make their buyer’s journey all the more enjoyable.
• Social Media Influencers– Many companies connect with social media influencers to promote and educate people about their brand. Social media influencers use their reach to connect to a specific target group or demographics. They can influence people to like a brand’s offerings and even convert them into loyal customers by giving honest reviews.

Eligibility Criteria

Eligibility criteria for MBA in digital marketing are as follows:

1. The program requires the candidate to have a bachelor’s degree in any subject or discipline with an average of 50% marks or an equivalent CGPA from a recognised university, institute, or college./
2. Candidates appearing for their final year exams can also apply, but they will only gain admission if they obtain a minimum of 50% marks in their Bachelor’s degree.
3. Candidates will have to qualify for any one of the national entrance exams like CAT/ MAT/ CMAT/ GMAT, or other similar entrance examinations can also apply for an MBA in digital marketing.

Career Opportunities

With the increasing online presence of customers through social media and online platforms, digital marketing is becoming more prevalent in the coming age. Due to ongoing online market criteria, businesses, firms, and organizations are hiring Digital Marketers to make a position for themselves in the market. Below are mentioned some of the career options in digital marketing positions offered to such graduates are listed below :

1. Market Research Analyst: The marketing research manager is tasked with gathering data and help its company to market its product and determine competition. They study potential market conditions to examine sales of a product or service. They help their firms in understanding what their clients want and need.
2. Public Relations Manager: A PR manager helps coordinates media and public relations. Their job is to maintain the identity and image of the company in ways that endorse their business and sustaining media relations.
3. Digital Marketing Manager: Digital marketing managers are responsible for developing and marketing projects conferring to the organization’s goals and profit margins. They incorporate efficient advertising strategies in digital spaces to endorse products and services.
4. Social Media Manager: Social media managers are concerned with promoting social media tasks and engaging with customers and suppliers to manage social media pages and profiles to maintain consistent branding across various fields.
5. Content Marketing Manager: Content marketing managers are in command of supervising a company’s content tactics and executing content-delivery plans, including many different forms of media like print, video, audio, etc
6. Brand Manager: A Brand Manager ensures that the strategies created are to change the perception of clients about particular products using research and collective. Their job also involves helping brands deliver their products or services that appeal to their target customers
7. Advertising Manager: An Advertising manager educates consumers and clients on the latest products and improvements and leads the team responsible for advertising campaigns.

Salary Range 

The average salary of a Digital Marketer after completing his master’s degree is almost Rs. 542,308 and is affected by many factors. Based upon the individual’s knowledge, abilities, and expertise of the graduate and many more the average salary ranges between 3 lakhs to 10 lakhs per annum. With a year of experience, a digital marketing manager gets an average salary of Rs 311,486. This increases to Rs.404,858 after 3-4 years of experience. The top paid professionals in digital marketing, after completing their specialization in digital marketing sectors, can earn up to an average of Rs. 702,856-Rs. 1,084,483. Following a path with an undergraduate degree with MBA in digital marketing opens a variety of options for the candidates, you can opt for a high-paying marketing management job with lucrative annual pay that will increase with your experience in the particular field with huge future prospects. 

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Conclusion 

With the growing economics and increase in industries in various fields, digital marketers are employed by every organisation to meet the demands of the consumers and potential buyers. Every company strives in the competitive market to create an online branding presence to keep their brand’s identity and appeal to the consumers at large who are affected by these social media platforms and networking.

An MBA in digital marketing offers you to pursue different scopes presented by these devices and methods. One such course is MBA (Global) With Specialisation in Digital Marketing From Deakin University and MICA, offered by upGrad. This program promises full placement support and elaborates on subjects like marketing and branding fundamentals, including business economics, strategy formulation, operations, and supply chain management, to name a few. Rest assured, a well-designed MBA course in digital marketing will help you master the nitty-gritty of this field and make you job-ready.

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References:

https://www.statista.com/statistics/778191/active-facebook-advertisers/
https://www.payscale.com/research/IN/Job=Digital_Marketing_Manager/Salary