by Kathy Crosett | 2 minute read
One-Third of Businesses Are Outsourcing Digital Marketing Needs
We know businesses are spending more on digital marketing. But, did you have any idea that 41% of businesses are spending at least $500,000 a year on digital? And, at least 1/3 of businesses are preparing to outsource their digital marketing needs. Those are two key findings from The Manifest’s survey of 500 digital marketers. Business owners tell The Manifest’s analysts that they’re particularly interested in social media marketing (64%) and their own website enhancements this year (55%.) These marketing formats are easier to deploy for many businesses that continue to struggle with more challenging investments like search engine marketing. Social media marketing also gives businesses a chance to form a personal relationship with prospects and customers. Despite their enthusiasm for digital marketing, businesses will be pulling back on their investment in some formats. In fact, at least 73% will decrease spending in one or more digital areas. The display/banner ads category is in top place for some budget trimming. About 19% of marketers are decreasing their investment in display and banner ads. Paid search will be reduced by 18% of marketers. Analysts believe that the difficulty of tracking ROI in paid search spending frustrates some marketers. In addition, marketers aren’t able to connect personally with their customers when they use paid search or display ads. Going forward, businesses hope to refine their digital marketing outlay by understanding what their customers are using. With over half of businesses spending at least 1/3 of their marketing budgets on digital, getting the mix right can have a big impact on the bottom line. You can show your clients the media formats that are influencing their customers’ decisions by using AudienceSCAN profiles available at AdMall from SalesFuel. You can also help your clients improve their digital marketing outcomes by selling them your services. Remind them that they should focus their expertise on developing their core product or service, and allow you to refine the digital marketing mix that will maximize their sales.
Kathy is the Vice President of Research for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel. Previously, she was co-owner of several small businesses in the health care services sector.
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December 31, 2018 Media + Marketing Tags: digital, display ads, marketing, media, paid search, social media, The Manifest, website