Check this out:
A February 2019 eMarketer article expects digital marketing ad spend to eclipse traditional marketing ad spend for the first time in history this year.
What’s amazing is that digital ad spend won’t just pass by – the resource predicts $129 billion of digital ad spend will surpass $109 billion in traditional ad spend. This stat is remarkable and a game-changer for brands and marketing executives.
Additionally, it’s crazy how quick the shift is happening. In 2015, a bit more than three years ago, the total annual digital spend was less than half of its traditional counterpart. Now, it’s $20 billion more!
The marketing resource also forecasts that two-thirds of ad spend will be digital by 2023. But who’s leading the way?
As of now, Google and Facebook are leading the trend, but other social platforms are dominating in capturing their digital spend. So get with it now: Allow your dollars to shift from traditional platforms like TV and billboards to digital outlets.
Another area that may need to shift is your brand’s co-op and marketing development funds (MDF).
Your retailers are in need of aerial support in this rapidly changing battle for customer attention. Their ability to utilize co-op dollars on social and digital platforms is mission critical to their success and yours. Empowering your retailers to shift those dollars to digital and social media outlets will prove effective in the long run.
So, how do you gain the edge against the competition? Attack social media with a left-right combination of content marketing and advertising. Leverage technology to automate social content for your retailers, many of whom are still nervous and overwhelmed with managing their local social media efforts. Also make sure to help your retailers with social and digital platforms – that’s where your buyers are impressionable.
When digital marketing is done right, it’ll create customers for life.