Why Businesses Are Boosting Digital Marketing Budgets
The discipline of marketing has transformed dramatically with the rise of the e-commerce and digital services. That’s why, according to AdAge, more than 80 percent of brands are boosting their marketing budgets over the next 12 to 18 months by an average of 10 percent across industries. It’s clear that times have changed, but how exactly are these organizations allocating these resources to advance their marketing strategies? Here’s a look at three major areas of investment that are defining this new era of marketing strategy.
“Digital marketing requires precision and persistence.”
1. Digital leadership: Regardless of industry or specialty, marketers agree nearly unanimously that strong leadership is a necessity for success in the new digital playing field.
A recent article from eConsultancy cited research revealing that 96 percent of respondents are prioritizing an understanding of technology on the part of senior marketing strategists.
Simply put, having informed, aware decision-makers at the helm will be pivotal as brands enter a competitive landscape becoming increasingly tech-centric, with marketing tactics verging on digital to a greater degree.
2. Dedicated software: Even with stellar, tech-savvy leadership to map out a digital marketing strategy, a brand won’t be able to execute on key objectives unless its software arsenal is up to date with the demands of today’s choosy consumers. As eConsultancy pointed out, this realization is driving many teams to invest in revamped solutions that provide more structure, control and insight into their digital marketing efforts. While email platforms, CRM and content management were cited as the top 3 tools, marketing automation systems are also on the rise as a powerful software asset.
“Automation platforms really are impressive new(er) technology that makes running a marketing campaign so much easier, and they provide businesses with an astounding amount of insight,” explained Business 2 Community contributor Jessica Johnson. “Get to know the architecture of integrated marketing platforms and improve your campaign the right way, without generating spam content.”
3. Staff member support: Success in modern marketing is not all about senior leadership and software, of course: The frontline workers creating and monitoring these campaigns need to have the talent and drive necessary to execute the game plan with precision and persistence. As AdAge pointed out, staffing remains one of the most prevalent challenges for marketing departments everywhere, and the tenure for the average marketing professional only hovers around one and a half years. Content creation and social media strategy are two in-demand workforce categories.
“There is such high demand and it’s such a new space – people are hopping around to find the best jobs,” Laura McGarrity, VP of digital marketing strategy at Mondo, told the news source. “It is a candidate’s market, particularly in digital marketing.”
Today’s brands have their work cut out for them in terms of their digital marketing checklist. If they can lock down exceptional senior leadership, integrate the right software and fill their ranks with engaged marketers, they’ll have what it takes to stand out in a highly cluttered landscape.