A recent study has revealed the truth surrounding how much money is being spent on digital marketing for this holiday season. Over 300 ad agencies and marketers were surveyed, and the results found that digital marketing spending is indeed increasing. 44% of marketers are investing in digital to reach customers through native ad formats, and 40% are using word of mouth as well as visual take-offs.
“A full 60% of agencies believe increasing their digital spend will create brand lift, with 50% believing it will increase their sales,” BizReport reports.
This survey is particularly important to understand for marketers, as digital marketing efforts are increasing in the industry. This comes as no surprise, as different tools like social media, and online ads reach an audience in an effective way.
Digital marketing is moving at a fast pace upwards, and professionals must pay attention so they don’t miss out on an opportunity to use digital components into strategies.
“US digital marketing spend will near $120 billion by 2021. Investment in paid search, display advertising, social media advertising, online video advertising and email marketing will pace to 46% of all advertising in five years.” Forbes reports.
Digital Marketing Done Right
In order for marketers to successfully use digital components into strategies, it is important to budget appropriately, prioritizing what components would be most useful and effective. This can be done by using data-driven strategies to fully target your customer and understand what information will be most useful.
“Their new report indicates that some budgets are spent on the wrong holiday dates – and on the wrong targets. Strike Social researchers found that YouTube advertisers, especially, may not be spending enough on parent-targeted advertising.” BizReport reports.
Understanding when your customer is paying attention to your ads will enable marketers to pick appropriate times to release campaigns, as well as the content that goes into the campaign. For example, the report indicated that parents tend to look at the internet on Thanksgiving day to search for gift ideas. As a marketer, understanding this, will position you to execute successful campaigns.
YouTube is just one example of an online platform that can often time be overlooked for campaigns. According to the report, marketers put little spending into this platform. In fact, not only is YouTube popular during Thanksgiving, it is also popular during other holidays as well.
” Consider this, New Years Eve and New Years Day shows a 20% higher view rate on YouTube than either Black Friday or Cyber Monday, and yet those advertising on YouTube only put about 5% of their budgets on New Year’s spends.” BizReport reports.
So, as a marketer, looking at every digital outlet can be effective. Putting digital spending at the forefront of your business strategies can position you to be ahead of the digital trends that are surfacing in this sector.
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With 53% of Marketers planning on adopting Artificial Intelligence in the next 2 years, the digital marketing revolution is just getting started. CMOs and CDOs alike are seeking new ways to maximize their digital reach to attract new business to, as well as deliver enrich, personalized experiences to existing customers.
On February 15-16, 2018 at The Park Hyatt Aviara in San Diego, CA, the Digital Marketing Transformation Assembly will bring together North America’s most prominent digital marketing technology and business leaders from all major consumer-driven industries to discuss the latest technology, innovations, and strategies driving digital marketing in 2017 and beyond.
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