Marketing Transformation in the Digital World
Marketing growth has remained consistent throughout the first quarter of 2017. This is good news for marketers who have seen the industry go through a tough phase due to concerns surrounding the Brexit and Google Ad controversy. A report by Bellwether indicated an increase in marketing spend by 11.8% in 2017, signaling a profitable year ahead.
Investments in digital technologies saw an upward rise of about 4.8% compared to the fourth quarter of 2016. The focus on creating marketing technologies has become a big talking point with most companies admitting that they need better digital strategies to drive up revenues.
In a year that saw Google get involved in a web of investigations for failing to remove extremist or unsavory content from YouTube, marketers’ showed a reluctance to pursue new online solutions. Even though the industry performed reasonably well, marketers struggled to take advantage of high-growth startups and mature enterprises.
Finding a way out of all these, the marketing industry seems to have become more reliant on technology to deliver quick and measureable ROI. A PwC research identified Digital marketing as the most significant trend for marketers’. The rise in digital spend went up by 17.3% in 2016 – its fastest rate of growth for nine years. The future of marketing will much depend on how marketers’ make the most of digital initiatives to build successful organizations.
According to the latest Bellwether report, marketing investments in SEO have increased from +15.7% from +7.1% in the previous quarter. SEO operations in online marketing have changed a great deal over the past few years. A decade ago, SEOs were only targeted to generate leads and increase traffic, now they are being used in a variety of other promotional activities.
Paul Smith, senior economist at IHS Markit and author of the report said, “[The economy] hasn’t fallen away as dramatically as was predicted by economists. This meant people didn’t have the confidence to invest in more expensive areas such as TV. But whether this confidence will continue is hard to predict.”