Digital Marketing – Can You Afford NOT To? April 24, 2017
Successful businesses don’t turn a profit by throwing their money around, but by channeling their spending into areas that will reap big returns. With 2017 showing an increase in marketing budgets for the third consecutive year, it’s not just about spending more, but spending smart.
So how are companies spending their marketing dollars? According to the Gartner 2016-2017 CMO Spend Survey, “marketing leaders spent more on their websites, digital commerce and digital advertising than on other categories in 2016,” proving that digital has become integral to all marketing activities, and a top investment priority.
With over 78 percent of the US population registered with a social media profile, it’s no wonder that digital marketing takes the lion’s share of the budget. According to Gartner, the rising importance of video is one of the main factors contributing to the increase in spending on digital advertising. Trend surveys reveal that marketers are making the extra investment because of the impressive return their video efforts are receiving. For example, including a video on a landing page can increase conversion rates by 80 percent, and users who watched a video are 64 percent more likely to buy a product online (CMS Connected).
Industry leaders and innovators didn’t achieve success by being reckless, but they didn’t bury their profits in a sock drawer either. The most successful companies keep a keen eye on market trends and make relevant investments. In a world where 74 percent of all Internet traffic is video ask yourself – can you afford not to invest?