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Businesses Spending More on Digital Advertising and Marketing
Companies are projected to spend $228 billion on digital advertising and marketing in 2016
A recent report from Outsell, the world’s only research and advisory firm focused on media, information and technology; found that businesses will be spending more on digital advertising and marketing.
The Outsell’s Annual Advertising and Marketing Study 2016, advertising and marketing spending will increase 4.7 percent this year, reaching $473 billion. Digital efforts encompass half of that, increasing 12.5 percent to $228 billion. The spending on digital equals the combine spent on print ($96 billion), TV/radio/cinema ($88 billion) and events ($45 billion).
Digital marketing has become the prevalent form of advertising for brands and companies want to reach as many customers as possible. The report from Outsell’s showed that the new digital marketing will focus on personalization and customer experience optimization on cross-channel campaign efforts. Randy Giusto, vice president and lead analyst for media, advertising and marketing research for Outsell, said using digital offers brands and companies more options for everything.
“New ad formats and the increasing use of video, as well as the emergence of big social brands as news and information curation and distribution hubs offers new choices to advertisers and marketers in 2016. All things considered, it’s all about attribution, connecting an actual sale back to the marketing touchpoints along the customer journey to justify the spend," Giusto said. “New forms of mobile, video, and social advertising present new forms of creative and content, as well as new data streams with which to analyze and act upon on.”
To read the original report, click here.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
