Increase in Digital Marketing Changing Over Next 5 Years
Over the past several years digital marketing has found a way to integrate itself into marketing strategies and transform the marketing interaction from company to consumer. A new study conducted by Accenture reveals that out of 581 senior marketing executives across the world, 78% of them believe that development of data analytics, mobile technologies, and digital methods will completely restructure the landscape of corporate marketing.
The projected increase in digital marketing led to more than one-third of the CMOs that were polled saying that at least 75% of their budget allocation would be devoted to digital. However, these future projections don’t quite match up with the 10 percent decline in customer and digital analytics capabilities. If companies want to optimize their digital marketing abilities they should look to be proactive in their analytics.
38% of marketers under the age of 35 place a high importance on the use of mobile marketing. These marketers realize the benefits of mobile marketing and how it can be used to keep up with data analytics in the rapidly changing digital market. Mobile marketing can also be a useful tool for consumer engagement, stimulation and influence – three of the most important things that CMOs recommended to take advantage of the company’s digital opportunity. Mobile marketing is a valuable asset in a company’s marketing efforts for sales retention and gains as well as maintaining customer loyalty, all of which were top recommendations by CMOs to compete in the future marketplace.
Staying ahead of the curve and adapting to the increase in digital marketing will help companies get the most out of their marketing efforts. A changing market requires a change in strategy to ensure successful outcomes and with this projected increase in digital marketing, it will be exciting to see the routes taken for adaptation.