Digital Marketing: Economics and the future

For digital marketers worldwide, 2014 could be a busy year since surveys show that an increasing number of companies have allotted a big portion of their marketing budgets to digital marketing. In short, many companies are confident that digital marketers can deliver the services they need.

According to the article, “The Economics (and Psychology) of Effective Digital Marketing” (http://trackmaven.com/blog/2014/04/economics-effective-digital-marketing), ”marketing budgets at B2B companies are predicted to increase 6 percent in 2014, correlating to 4 percent of company revenue.” This information is based on the study conducted by Forrester Research and Business Marketing Association. It was supported by the Marketing Trends Survey results which showed that “90 percent of North American companies plan to increase (46 percent) or maintain (47 percent) their marketing budgets” for this year.

The article however said that print advertising still take the biggest slice in the budget.
Where are the other parts of the money going? Among other items, digital marketing takes 13 percent of the marketing budget. The other categories with the highest spending budget also include email marketing, social media, search (paid and organic), mobile marketing, and online display ads.

In relation to digital marketing, a chunk of the budget is divided among these categories: data analysis, marketing automation, email marketing, content management, and social media marketing.

The article also mentioned the study conducted by Adobe which revealed that 90 percent of US marketers plan to invest more or maintain their budgets for digital marketing technologies and strategies. Many marketers have also increased their budget for programs and campaigns.

In general, the whole digital marketing industry is poised to take the challenge as digital capital investments are expected to increase. As more and more companies jumped into the bandwagon of digital advertising, more digital marketers are optimistic that the coming years will be as productive as this year.

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