Closing the Skills Gap: Addressing the Surge in Demand for Digital Marketing Experts

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3 Jun 2024

The world of business is experiencing a massive transformation with the integration of rapid technological and digital innovation. In light of this ongoing evolution, aspiring entrepreneurs, existing CXOs, and also employees need to understand the new-age digital technologies and their impact across industries and products or services to achieve long-term success.

In a rapidly expanding digital marketing landscape, the need for professionals equipped with the skills to navigate complexities has never been more urgent. As per estimates, the digital marketing industry is experiencing unprecedented growth, with global digital ad spending projected to soar to $836 billion by 2026.

However, this surge in demand is met with a critical shortage of qualified individuals proficient in harnessing the potential of the digital realm. This is evident in the 38,000+ open digital marketing jobs in the market as reported by Naukri 2024.

Apart from this, design thinking and innovation have emerged as catalysts for organizational success. According to the Business Value of Design report by McKinsey 2022, 32% of companies in the top quartile for design thinking implementation experienced a 32% higher revenue growth and a 56% higher total shareholder return compared to their industry counterparts.

The Tech Panda takes a look at the efforts at skilling in the tech industry.

Digital marketing programs with AI knowledge

In May, the ISB Executive Education launched the ‚ÄėDigital Marketing and Analytics‚Äô program and ‚ÄėProfessional Certificate Programme in Digital Marketing‚Äô. These programs are launched in partnership with Emeritus.

Mohan Kannegal, CEO, India and APAC, Emeritus, said, ‚ÄúIn today‚Äôs fast-paced and dynamic digital landscape, mastering the art of digital marketing is critical for professionals looking to navigate the complexities of the market. The ISB ‚ÄėDigital Marketing and Analytics‚Äô and ‚ÄėProfessional Certificate Programme in Digital Marketing‚Äô are not just about meeting the demands of the current market; they are visionary in defining the future market.‚ÄĚ

The ISB Executive Education’s digital marketing course is designed to align digital marketing strategies with business objectives, ultimately enhancing return on investment (ROI).

The programs cater to mid-level managers, eager to enhance their skills and gain insights into integrated digital marketing strategies and marketers aiming to make a comeback after a career break. It is also designed for entrepreneurs and business owners keen on understanding how digital marketing strategies can amplify marketing outcomes and foster business expansion.

With insights from ISB’s globally renowned faculty, application-based case studies, and masterclasses, including an exclusive specialized session on copywriting and copyediting with ChatGPT, leveraging Artificial Intelligence (AI) for personalized marketing, participants gain a profound understanding of top industry-relevant digital marketing tools and engage in hands-on simulation projects. This unique learning experience empowers participants to apply online advertising principles to real-world scenarios within a simulated environment, providing a tangible roadmap for driving business growth in today’s hyper-competitive landscape.

ISB Executive Education’s professional certificate in digital marketing offers a 24-week learning journey, which includes theoretical insights and hands-on application, allowing participants to master customer behavior analysis, implement effective digital marketing funnel strategies, harness emerging technologies, formulate performance marketing plans across diverse platforms, and evaluate campaigns through analytics. The emphasis on hands-on learning is further reinforced through real-time campaign execution in simulated environments and analysis of industry-standard case studies.

With guidance from globally renowned ISB faculty, participants can expect a dedicated masterclass on copywriting and copyediting with ChatGPT, influencer marketing, exploration of trending digital marketing topics, and exposure to industry-relevant tools.

The ‚ÄėDigital Marketing and Analytics‚Äô program will commence on 14 May 2024, with a fee of INR 1,08,000 plus applicable taxes. The ‚ÄėProfessional Certificate Programme in Digital Marketing‚Äô program will begin on 26 June 2024 and can be enrolled at a fee of INR 1,80,000 + applicable taxes. Upon successfully completing the program with a minimum 70% score, the participants will be awarded a certificate by the ISB Executive Education and will become a part of the ISB Executive Network. To know more, visit the programme pages Digital Marketing and Analytics and Professional Certificate Programme in Digital Marketing.

Wise Innovation Studio for Emerging Technologies

In May, Bharatiya Vidya Bhavan’s S.P. Jain Institute of Management and Research (SPJIMR) unveiled the Wise Innovation Studio for Emerging Technologies (WISE Tech).

The WISE Tech community includes rising tech entrepreneurs, emerging SPJIMR student and alumni entrepreneurs, corporate innovators, and investors; CSR leaders looking to leverage emerging tech for greater corporate impact; and academicians who work on responsible, sustainable, and ethical aspects of innovation.

Varun Nagaraj, Dean, SPJIMR, noted, ‚ÄúSociety‚Äôs grand challenges need innovative and entrepreneurial responses, but such innovation needs to be wise ‚Äď done for the right reasons and in the right way. WISE Tech‚Äôs goal is to be the knowledge and community hub for all matters related to tech-based innovation and entrepreneurship.‚ÄĚ

WISE Tech will house initiatives like the Sunil Bhatia Start-up Resource Hub, a hub for early-stage entrepreneurs supported by an endowment from Sunil Bhatia, SPJIMR alumnus and former CEO of Infogain. It also includes two dedicated startup accelerators FinNovate for responsible finance and EarthLab for sustainability-focused ventures. It also includes an entrepreneurship fellowship program designed for early-stage entrepreneurs who have not yet developed a viable product or acquired customers. Then there is the Wise Innovation Conclave, a unique academic-practitioner conference, which brings together leading scholars, thoughtful chief innovation officers, chief sustainability officers, and CSR officers seeking inspiration and insights on how to adapt their innovation processes to achieve ambitious triple-bottom-line organizational goals.

A UG Program: Makers Undergrad

In April, Rishihood University (RU) launched a four-year undergraduate BBA program called the ‚ÄúMakers Undergrad‚ÄĚ at its ‚ÄėSchool of Entrepreneurship‚Äô. The university has set up a USD 5 Million Makers Fund, to invest in student innovation and alumni startups. The first-of-its-kind UG program has introduced several unprecedented initiatives in undergraduate education that will extend beyond traditional classrooms, with exposure to business hubs in Singapore, Israel, Silicon Valley, and London.

The program has been developed by Ravinder Pal Singh, former CIO of Vistara Airlines, Inventor, holder of several tech IPs, and a DeepTech Venture Capitalist; who partnered with IIT alumni Sahil Aggarwal, Co-founder and CEO of Rishihood University; and Shobhit Mathur, Co-founder and Vice Chancellor of Rishihood University (RU), along with industry partners, to launch the program under its newly launched School of Entrepreneurship.

For a practical hands-on experience, students will be empowered to invest in equity from day one with an initial balance of INR 10,000 and can further engage in entrepreneurial endeavors by making a fixed deposit of INR 1,00,000, which unlocks after the third year, encouraging the utilization of Rs 1 Lakh plus interest, as seed capital for startup ventures. The comprehensive curriculum will cover a spectrum of topics including Introduction to Entrepreneurship, Personal Branding, Technology, and Society, Raising Capital Venture Capital, and Private Equity, alongside practical modules like Web Application Development, Social Media for Entrepreneurs, and Impact Entrepreneurship.

Students will also gain access to esteemed conferences, seminars, and networking events organized by reputed industry bodies such as CII, StartupIndia, Startup Hub, and India Digital Summit, among others. Students will also benefit from expert coaching, faculty, and mentorship from over 50 top-rated institutions and companies worldwide, including McKinsey, Boston Consulting Group, Goldman Sachs, Amazon, Meta, IIM Ahmedabad, IIT Delhi, IIT Bombay, to name a few.

‚ÄúIn today‚Äôs landscape, all six strategic parameters of innovative compassionate capitalism are converging, presenting a truly historic opportunity for India,‚ÄĚ says Ravinder Pal Singh.

Complementing theoretical learning, a state-of-the-art makers lab will facilitate hands-on experience in 3D printing, digital media creation, human augmentation technologies, robotics, and financial markets, equipping graduates with the skills to launch startups, excel in high-growth roles, contribute to family businesses, pursue executive positions, or thrive in investment firms and incubation centers.

IIT Delhi Offers Certificate Programme in Design Thinking & Innovation

In April, the Indian Institute of Delhi (IITD), acclaimed for its 2nd rank in the Ministry of Education’s NIRF 2023 rankings in Engineering, launched the Certificate Programme in Design Thinking & Innovation.

This high-impact five-month program caters to designers, entrepreneurs, consultants, managers, and professionals in various sectors. It offers an opportunity for designers and engineers to enhance their skills in creating customer-centric solutions. Entrepreneurs and business owners can benefit from learning how to scale their businesses and drive social impact through innovative practices.

Consultants can also gain insights into using design thinking to boost their clients’ growth. Additionally, managers across different domains can leverage design thinking for product development and problem-solving. Lastly, the program is also tailored for rural entrepreneurs, SMEs, and development sector professionals, empowering them to thrive in today’s competitive environment.

The program designed by renowned IITD faculty, includes live online sessions & webinars delivered by top IITD faculty & industry experts, real-world case studies, innovative assignments, short quizzes, a capstone project, and an opportunity for in-person weekly office hours with faculty. The module of this program includes an introduction to human-centered design (HCD), HCD and innovation, identifying user needs, ideation and immersion, agile design, and data-driven innovation among others.

On completing all evaluation components of the program and a capstone project with minimum pass marks in the respective evaluation components, participants will be awarded a completion certificate from IIT Delhi.

A Chief Product Officer Programme featuring two online modules by Kellogg Executive Education

Acknowledging the paramount significance of product leadership, the Indian Institute of Management Kozhikode (IIMK), along with Emeritus, launched a Chief Product Officer Programme, featuring two online modules by Kellogg Executive Education.

This 12-month program is designed for product leaders seeking to integrate cutting-edge practices and insights into product strategy, enabling them to generate substantial business results. It is also tailored for new as well as evolving CPOs interested in attaining a strategic and functional outlook on launching customer-centric products and shaping the future of product innovation. Additionally, it will also enable business founders & consultants to master product-led growth strategies, build differentiated products, and boost profitability.

The IIMK Chief Product Officer Programme, designed by renowned IIMK faculty, includes live online sessions delivered by top IIMK faculty and industry experts, profound case studies, a 3-day in-campus immersion at the IIM Kozhikode campus, a Capstone project, hands-on learning through business simulations and an opportunity for peer-to-peer learning. Additionally, it also features 2 online modules by Kellogg Executive Education. The module includes various impactful topics such as Strategy, design thinking & growth mindset, product finance & performance control, crafting product strategy, advanced product ops, product marketing and product analytics, product innovation & growth, and product leadership.

Prof. Debashis Chatterjee, Director, of the Indian Institute of Management Kozhikode said, ‚ÄúTo drive growth in today‚Äôs rapidly evolving business landscape, product officers need to possess a unique blend of strategic vision, customer empathy, and effective leadership skills. The IIM Kozhikode CPO Programme has been meticulously designed to empower CPOs to foster strategic thinking, communicate effectively, and deliver customer-centric products that break through the noise of the market while gaining a global advantage through the online modules from Kellogg Executive Education.‚ÄĚ

Mohan Kannegal, CEO, of India and APAC, Emeritus, said, ‚ÄúAs the demands of the product management field continue to evolve, the need for visionary leaders who can drive product innovation and strategic direction has never been greater.‚ÄĚ

Navanwita Sachdev, Editor, The Tech Panda