Hey guys, I came across some information that I had to share.
An awesome resource, eMarketer, recently released a great article stating that in 2019 they are expecting digital marketing ad spend to eclipse traditional marketing ad spend for the first time in history. What’s amazing is that digital ad spend is not going to just barely get there, but for 2019 they predict $129 billion of digital ad spend being made versus $109 billion of traditional ad spend. Guys, this is remarkable and game changing for brands and marketing executives. Gary Vaynerchuk, the Nostradamus of social media, has been preaching about this shift to digital for years. Guess what? He was right again. It’s happening!
What’s really crazy is how quick it’s happening. In 2015 (just a little more than 3 years ago), the total annual digital marketing spend was less than half of traditional marketing spend. Now it’s $20 billion more! Oh, and by the way, eMarketer is forecasting that by 2023 two thirds of spending will be digital.
So, who’s leading the way? As you can imagine Google and Facebook are #1 and #2, but social as a whole is dominating in capturing digital spend. The moral of the story is get with digital now. Allow your dollars to shift from traditional marketing programs (TV, billboards, print, etc.) to digital platforms.
While we are on the subject, another area that may require some realignment is your brand’s co-op and marketing development funds (MDF) program. 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. Empower your retailers to move those dollars from traditional outlets to much more effective options like digital and social media.
So, how do you gain the edge? Get after it. Attack social media with a left-right combination of content marketing and advertising. Leverage technology to automate social for your retailers, many of whom are still nervous, scared, and/or overwhelmed with managing their local social media efforts. Help your retailers with social in every way possible because, that’s where your buyers are, that’s where your buyers are impressionable, and that’s where your buyers want to learn more about your brand. When digital marketing is done right, it creates customers for life.
- Posted by Branden Elwell
- On May 6, 2019
- 0 Comments