There’s no denying it, marketers are diving into digital advertising – the deep end of digital advertising.
Recent surveys of business owners and ad buyers spanning multiple industries show that everyone is swimming away from traditional media like print, radio, and TV into the streaming current of digital channels.
First Time for Everything
According to eMarketer.com, digital advertising accounts for 54% of ad budgets. That’s nearly $130 billion in the United States alone. That figure is expected to grow to 67% by 2023.
Notably, this marks the first time marketers are spending more on digital advertising than traditional options. Take a look at the figures:
Search and Social Sharks
While print and radio were the first to feel the drowning effects of digital, television is also getting swept up by the growing digital tide. Even Google and Facebook are watching their backs as reports indicate Amazon is swimming into their territory with rapid speed.
Clikz Marketing Technology Transformation and Marin Software took a deeper dive into the specific digital advertising channels used; which shows paid search and paid social accounting for nearly 60% of advertising spending.
Source: Marin Software
Catch and Ride the Wave with Video
As marketers dive into digital advertising and ride digital tidal wave, video will be their best surfboard.
Emarketer.com shares that video will continue to drive the growth of digital advertising spending, particularly in social media and through the use of Over-The-Top (OTT) platforms like Hulu and Roku.
A Forbes.com article shared a report by the Interactive Advertising Bureau indicated that 41% of United States consumers over the age of 13 watch online and streaming videos daily.
The report also shared that 75% of digital video viewers are willing to watch advertising in exchange for content. Not only will they watch the ad, online viewers pay more attention to video messages and prefer to learn about new products through video.
Impact Learning Center and Wyzowl also provide compelling digital video statistics:
- 70% of consumers say that they have shared a brand’s video
- 72% of businesses say video has improved their conversion rate
- 52% of consumers say that watching product videos makes them more confident in online purchase decisions
The Sea Still Needs Stories
As marketers are swimming in the deep end of digital advertising ocean, it may be comforting to know they all have a familiar lifeboat.
Good storytelling remains at the heart of any campaign. Without it, consumers won’t get on board with a product or brand, no matter how often they see it on their channel of choice.
Finally, if marketers stick with good stories and surf all channels with video, they can ride the wave of digital marketing to success.
Thinking of diving into digital advertising? Need help with your story or social media? Give Poole Communications a call. We can help provide strategies and tips to get the most from your digital advertising. 800-900-3635
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