99% of Companies Will Up Their Digital Marketing Budgets This Year
Digital marketing is a priority for most U.S. brands. So much so that this year, 99% of companies will increase spending in the discipline, research found yesterday.
In an announcement about research released on Sept. 12, The Manifest — a business news and how-to website — detailed plans marketers have for digital marketing.
In the announcement, the site says its survey found “41% invest more than $500,000 in digital marketing every year” and “most businesses devote either 26 [to] 50% or 51 [to] 75% of their overall marketing budget to digital marketing.”
Similar to our recent martech spending research that found 68% of marketers were buying social media marketing tech this year, The Manifest discovered that “more than half of businesses plan to spend more time and money on social media marketing (64%) and a website (55%) in the next year.”
Brands were investing less in display/banner advertisements (19%) and paid search advertisements (18%).
The Manifest opined that ad buying in social and search happens because the channels provide marketers with measurable results.
“There’s been a significant uptick in digital marketing spend, because it’s where consumers are,” said Flynn Zaiger, CEO of Online Optimism, a digital marketing agency in New Orleans, in the announcement about the Sept. 12 research. “If you’re trying to be in front of your customers, the screen is the place to be.”
Kristen Herhold provides her thoughts on digital marketing’s importance in today’s marketing mix in her Sept. 12 synopsis of the research on The Manifest:
“Today, it’s less important for businesses to invest in traditional marketing, such as pamphlets, billboards, [fliers] and print advertisements. Instead, businesses should focus their investment on digital marketing.”
Still, marketers need to research consumers in each channel to discover where their audiences reside and how they want to be messaged.
Herhold writes about a basic truism in marketing:
Creating personas of your ideal customer base will help you figure out how they consume content.
“Get a sense of exactly how people consume information and how they make purchasing decisions,” [said Jon] Borg-Breen [co-founder and head of sales at B2B lead generation agency Symbiont Group]. “If digital is really big for these customers, then digital marketing should be a massive amount of your budget. If you’re in an old-school industry that doesn’t really do a lot of digital stuff, digital marketing may not make as much sense.”
What do you think, marketers?
Please respond in the comments section below.
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