The digital market is a massive business.
The total value of all digital advertising and marketing transactions has increased by more than 400 per cent since 2013, according to research firm IDC.
And it’s only going to get bigger.
The total digital ad revenue for the UK in 2016 was £10bn, with over £600bn in digital ad revenues generated in the UK alone.
But digital marketing has become a hot ticket in this industry and is likely to continue to be the key driver of the future of digital advertising, with a report by research company DigitalMarkets forecasting digital advertising revenue in 2018 to be around £80bn, up from around £60bn in 2017.
And with so many advertisers using digital media, digital marketing is also a lucrative industry with many brands that have started using the technology to boost sales and generate brand awareness.
But according to digital marketing expert Steve Vig, the trend in digital advertising is very much about more than just marketing.
He says the rise of social media has seen an increase in digital marketing spending, particularly with brands using social media platforms such as Instagram to reach their fans.
“It’s a very organic trend and it’s a huge one, particularly for brands that are not on social media,” he says.
“So if you’re an advertiser that isn’t using social and are looking for an easy way to reach your target audience, Instagram is the place to be.”
And I think that’s one of the reasons why the digital market has gone from a niche market to a $2.2bn industry in the last year.
“I think it’s really the digital industry’s biggest opportunity.”
The digital market’s biggest threat?
The rise of Facebook and InstagramAs it stands now, the only way to really grow your digital business is through marketing, so if you want to take advantage of this trend you need to be very strategic about what you’re doing.
But not all brands have to start marketing their digital strategy from the top of their brands’ agenda.
If you are not actively marketing your digital strategy through Facebook, you’re going to be sitting on a long tail.
“Facebook is a very competitive industry,” Mr Vig says.
“Facebook has been growing rapidly for some time and has been the biggest player in that space.”
The way it’s structured, it’s like an integrated platform for advertising, but it’s also a platform for buying, buying, and buying advertising.
“But it’s very hard to get an effective strategy out of Facebook because it’s an integrated marketplace and there’s no way to know what the market will look like in five years time.”
You don’t have the right mix of people in the right places.
“The way you get into that market, which is to get to Facebook and see how people are using it, is a differentiator.”
What is the digital marketing industry really all about?
Digital marketing is a vast market.
It’s worth noting that, unlike advertising, digital is not the same thing as digital media.
In fact, it is quite distinct.
Digital marketing differs from other types of media where content is generated on-site and not shared through social media.
Digital media has also grown in popularity, with digital advertising spending growing by more in the US than any other country.
In the US, digital advertising has increased from around $1.2 billion in 2015 to around $7.5 billion in 2018.
But it is only increasing at an exponential rate, with the amount of digital ad spending going up from $7 billion in 2016 to $18.3 billion in 2017, and the amount going up each year from $16 billion in 2014 to $23 billion in 2020.
The big challenge?
The big issue for digital marketers is getting your content right.
“In the digital space, you have to have a lot of people who are using your content to be able to reach an audience,” Mr Pardu says.
But he also says there are plenty of opportunities for brands to create content that will be more engaging and engage with their audience.
“There’s no one-size-fits-all approach to digital.
You have to take the best of everything and make sure it’s relevant,” he adds.
“That means your content needs to be engaging and engaging with the audience, and then it’s worth paying attention to the content you put out there.”
We can’t make our content perfect.
That’s why I say you have a very important choice: what are the right pieces of content?
You can’t just build the best piece of content.””
It needs to look good on Facebook and look good in Instagram.
You can’t just build the best piece of content.”
Mr Pardue agrees that there is a need for brands and organisations to be more strategic in how they approach digital marketing.
“Digital marketing has to change,” he explains.
“One of the challenges is getting a strategy in place that allows you to reach the audience you want