Reports indicate that online
spending is set to continue over the next few years. According to Statista, global retail e-commerce revenues are predicted
to grow to 4.88 trillion US dollars
in 2021, which is almost double the figures from 2017 (2.3 trillion US dollars
In other words
, online marketing
is a juggernaut that is showing no signs of slowing over the next half decade.
Growth of e-commerce
One study published
by International Data Corporation
in 2019 predicted
worldwide spending on ‘The Internet
of Things’ (connected devices) would reach $745 billion in 2019, which makes for a huge number of additional opportunities to reach prospects beyond the original traditional desktop
This indicates, the growth
of mobile shopping
together with the dawn of digital
wearables will enhance communication
and online interaction
in ways that have not been possible before.
Executive research firm
, Transearch has published
a report showing a trend with leading firms ramping up their digital
marketing department. Not only are corporations increasing spend on online marketing
, they are also recruiting on-site specialists.
A report assessing Digital Marketing Spending published
by Gartner Survey
found that companies
to increase spend on SEO
and social media
by an average
So why are big corporations moving away from traditional advertising methods to put more focus into online marketing
Filling the gaps in online marketing
is driving marketing innovation. The seemingly endless number of opportunities for brands and institutions to communicate messages
is becoming richer and more entertaining.
And all these advancements in technology
have the potential to benefit people
in their everyday. We already have connected cars, thermostats
and lightbulbs that provide critical information…
…how can your brand tap into new markets that are being created by new technologies
And let’s not forget purpose-built
and various communication channels. With all these tools
at your disposal, all you need is creative thinking
to make the best use of them to improve your online business
Digital is more cost-effective than TV advertising
has been the leading platform for advertisers for well over half a century, but the outrageously high costs
often pose a barrier. The digital
arena gives marketers more scope to build reach and connect with customers
. Digital is also much more flexible than above the line advertising since it is much easier to change a title tag on a webpage or change the copy in an online ad than it is to change a television advert after it is filmed or change a printed advertisement after it has gone to press.
The flexibility and cost-effectiveness of online marketing is one of the reasons brands are planning to increase spend in online channels. For example, Mondelēz International that looks after several well-known brands including Oreo
to increase digital
spending by 50% this year, and although they still plan
to make visual ads, their priority platform will be video sharing sites rather than TV
Digital drives new revenue
Bringing marketing campaigns
across to the online
arena provides leverage to attract new customers
. US firm Snagajob generated $8200 from their first digital
in 2014 and the second stab attracted $36,000 of bookings in a single quarter.
is changing even if their psychology
is not. Modern day customers
expect good customer service and that means before, during and after the transaction.
, particularly mobile, allows companies
to personalise marketing campaigns
towards specific individuals. Through the use of apps, SMS and email
you can follow your customers
purchase path and offer a helping hand on the way.
therefore not only allows you to provide a better service but also to interact with your customer
. With onset of augmented reality
just around the corner, companies
will be able to provide an interactive experience
online which is virtually like reality
of social media
allows corporations to have two way conversations with customers
visiting their site. You may have noticed a pop-up box with the photo
of the person you are speaking with behind the screen.
This allows companies
to speak directly with the customer
and help them out with any questions
on the spot and is a great way of influencing them to progress with a transaction.
also gives you the ability to contact customers
on their mobile
devices, providing they give you authority
to do so. Letting customers
know that a new item is in stock gives your marketing campaign
an immediate impact.
You can also buy technology
that allows you to identify when customers
are in the area. By sending them a private message
with the promise
of a discount you stand a better chance of enticing them into your shop.
The number of benefits digital marketing
offers over traditional marketing
is growing, and with the rapid evolution of technology
to improve marketing campaigns
, the digital
arena is likely to be the number one marketing platform before the end of the decade.
Undoubtedly, one of the major benefits of online marketing
is it’s ease of measurement. Google Analytics
and other analytics packages, if configured well (and so many are not) easily tracks conversions, add to cart goals and events, conversion funnels (and blockages), downloads, abandonment rate and more. It’s much more simple to track an online
visitor to one wandering around your offline
store or who sees a billboard
and may, or may not walk into one of your high street outlets.