The digital marketing landscape has gone through an incredible transformation and has evolved into the nucleus of the Internet ecosystem. The following insight breaks down the latest strategies, and offers key data that speaks to the transformation. From a technology facilitator’s standpoint, I am observing as more and more businesses adopt a wider array of marketing technology services.
Back in 2009 digital marketing was beginning to mature into a series of disparate digital technologies that enabled targeted, interactive and measurable marketing products. These varied marketing products include:
- Search engine optimization (SEO)
- Search engine marketing (SEM)
- Email marketing (CRM)
- Display advertising
- Social Media
- Content marketing & content automation
- E-commerce marketing
This is just a partial list. In fact, digital marketing products extend to any other form of digital media.
Today’s digital marketing strategies leverage all the latest marketing technology innovations to manage and execute cross-channel campaigns that are optimized and driven by big data analytics. Marketing automation platforms now simplify the process of executing consistent multi-channel campaigns that drive performance and maximize return on investment (ROI). Below is a list of some of the larger marketing platforms on the market:
- ORACLE Eloqua (now ORACLE Marketing Cloud)
- Unica Campaign (now IBM Campaign)
- Pardot (now Salesforce Pardot)
- Adobe Campaign
- SILVERPOP (now IBM SILVERPOP)
Businesses of all sizes are starting to recognize and align the impact of each media channel on the other. These marketing technologies keep expanding to include as many media channels as possible. The next challenge is to determine the proper allocation of marketing budgets across channels.
- In 2015 businesses will spend 32% of total marketing budget on digital marketing
- By 2016 it is projected that 36% of marketing budgets will be allocated to digital marketing
- Search engine marketing will continue to see the largest spend at 47%
- Display advertising (banner ads, re-targeting) will enjoy 34% of spend
- Social media (Tweeter, Facebook, others) are estimated at 6%
- Mobile is now the fastest growing digital media channel. It will enjoy about 10% of spend
- 84% of top performing companies are using or plan to start using marketing automation
(Sources: webstrategiesinc.com, cmosurvey.org, gleanster.com, gartner.com)
Technological innovation and competition is driving the shift to digital marketing. The Fortune 1000 companies have already adopted marketing automation to drive their digital marketing efforts. However, many small and mid-size businesses (SMBs) are struggling to figure out how best to implement a digital marketing strategy. SMBs need to learn from larger companies and adapt quickly or they will be left behind in this new digital era. Here are a few insights to consider:
- Realize the importance of having a digital presence. This includes but is not limited to: website, popular social media (Tweeter, Facebook, Instagram, etc.).
- Provide your customers and prospects a consistent brand experience across all digital channels.
- Research and select marketing technologies to manage and measure the results of all your digital marketing efforts.
- Starting out you may want to outsource your digital marketing efforts to a respected digital marketing agency. Then learn and document everything before establishing your own in-house marketing team.
- Stay aware of new digital marketing trends. The internet is full of great resources to keep you informed.
By Ray Estevez