The average person spends 135 minutes on social media per day and 42% of the population in the world uses social media. Today, digital marketing has an incredible impact on our lives.
Are They Listening?
Have you ever had a moment where you spoke with a friend about a product and the same product popped up on your phone?
This question raises a lot of assumptions on some of the top consumer goods and how they are actually targeting the consumers. There have been some incidents in the past where companies had the ability to use the mic within your phone, but now there are many regulations that protect us consumers. Now even with these regulations I still notice all of these advertisements that I believe specifically targets me as a consumer. The reason why is because the Digital Marketing space is growing and advancing at an unfathomable rate.
Most Up-to-date Market Information
Specializing in the Sales and Marketing space my team and I meet with many experts in the B2C industry on a daily basis. This helps us grasp an understanding of how each company will be operating in the future. We use this information to find trends on which industries, more specifically companies will be the most beneficial for each specific talent. With all of the candidates we work with, we always ask for feedback to help improve our recruiting processes.
One of the major trends that we have noticed is the BOOM within the digital marketing space. As we know technology advancements double each year, meaning there is a huge exponential growth that takes place. Since these advancements are rapidly growing so is the efficiency of digital marketing. The more efficient advertisements are there are more chances to capitalize on exposure. This helps grow the flow of money through the digital marketing field.
According to the statistics offered by “eMarketer,” the digital advertisement space will conquer almost 50% of overall media spending and the total spending will go over $375 billion by 2021.
- Continuous advancements that are increasing the number of advertising methods
- Cost of the advertisement is continuously decreasing
- Companies are improving their algorithms which increases the efficiency of advertisement platforms
- Simplified marketing for both parties
Since we are having all of these technological advancements the advertisement methods that are considered to be “Digital Marketing” are always increasing. This means that the number of outlets for these advertisements are almost endless. Some of the major outlets would be Facebook, Amazon, Twitter, Instagram, Line, Google, and Youtube. Within each of these platforms there are multiple different types of advertisements. This helps any company utilize these platforms. The average person in Japan spends around 3 hours on their phones. Realistically they don’t spend 3 hours looking at advertisements, but the potential is endless.
These methods are decreasing in costs and becoming a higher return on investment. A good example would be how Youtube charges businesses for their advertisement service. On average businesses would only pay around $20 for 100,000 views on their advertisement which is only .10-.30 cents per view. Obviously out of the 100,000 people, there are people who would skip the advertisement but it is still targeting very specific people who would be interested in your product.
Many apps, especially Instagram, have a very efficient process. They are able to dignify the type of consumer base that will most likely look at the advertisement. Since Instagram has a very advanced algorithm they utilize their vast multi-cultured user base to squeeze the most they can out of their advertisements. Even on Youtube they are able to target specific consumer groups. For example if you own a fitness apparel company and you want to reachout to consumers who are interested in fitness, you would just reach out to a fitness youtuber.
Another benefit with Digital Marketing is that they are able to market in a way that makes it easier for both the company and the consumer. Digital ads usually don’t take too much of the consumer’s time. For example on Instagram and Snapchat they use story ads, where when someone views someone else’s story there would be a short ad in between. Even on Youtube the advertisement itself only takes 5-30 seconds of the viewers time. Some audio focused apps, Pandora and Spotify, put advertisements in between songs. We even see chat apps using individual chat’s that lead to consumer community forums. These forums help update consumers with the latest products and also existing promotions. The chat company Line actually gives away free chat stickers for people who become friends with company accounts.
The digital marketing industry has many different factors involved that help it grow, evolve, and conquer the overall marketing field. My team and I have real time sources that give us the most up-to-date information. Using this information we are able to make accurate predictions on what decisions are being made from some of the largest companies in the B2C industry. We are always willing to share this information and help talents with their future career goals.
Looking for Marketing Jobs?
If you would like more information or any advice to help reach your future career goals, please feel free to contact me directly.