Chief Marketing Officers (CMOs) have a choice, embrace the future or cling to the past. To succeed today, they have to abandon mass-media thinking, and resist the urge to squander their budgets on trivial advertising or paid media. To compete, they must build teams of practitioners that are able to create content, not merely outsource work to agencies and contractors.
Influencer marketing is an increasingly popular component of social marketing, offering new sources of content and greater potential reach into desired audiences. “Choose influencers based on audience reach, brand relevance and their ability to resonate with followers for favorable outcomes,” says Jay Wilson, research director at Gartner.
Regardless of the consistently poor results, U.S. social network advertising spending will surpass $21 billion, accounting for 25.5% of all digital ad spending. By 2019, social ad spending will top $31 billion, making up 29.4% of digital ad spending.
Business-to-business (B2B) marketers know what a long haul it can be driving leads to conversions. Unlike the business-to-consumer (B2C) segment, the path to purchase for B2B products can be winding, often requiring the input of many players before a purchase is made.
According to Juniper Research, digital advertising spend will grow by an 18 percent compound annual growth rate (CAGR) over the next five years — rising from $184 billion in 2017 to $420 billion in 2022. This include advertising spend across mobile, desktop, wearables and digital-out-of-home signage.
Source: Digital Lifescapes