Digital marketing is expected to be a big part of the future of digital advertising, but there’s a lot to be done.
In the next five years, companies need to invest in their digital advertising efforts to keep up with the evolving demands of the ad industry.
As the world of advertising moves toward an age of data, new challenges will emerge for companies looking to compete and to stay ahead of the curve.
Read moreDigital marketing jobs are still relatively small in terms of number of positions, but according to a report released Monday, there’s now a job market that could be the most lucrative of all.
According to a new report from McKinsey & Co., there are now more than 4 million jobs in digital marketing, and that number is growing at a rate of 9.5% per year.
While the number of jobs is still very small, the number will soon double.
The number of digital jobs is expected grow by 12.5 million jobs by 2021, according to the McKinsey report, with an average annual growth rate of 3.5%.
In addition, the job market is expected see an increase in salaries and benefits, the report states.
“Digital is the fastest-growing industry in the world, and as companies increasingly embrace the benefits of data analytics, we see opportunities for the digital team to advance in the workforce, create and deliver innovative digital experiences, and expand the number and scope of digital products and services,” said Scott Wojcik, vice president of digital strategy at McKinsey.
“Digital job growth is not just about a rise in job seekers and workers looking for jobs, but also the growth of those who are building new digital assets.”
While digital advertising jobs are growing at such a rapid pace, there are still a lot of unknowns.
For example, how will companies adapt to the digital world, as the economy continues to evolve?
How will people be able to access information, connect with clients, and use digital tools in the workplace?
Digital is a fast-growing field, and McKinsey’s report shows there are some challenges for companies to navigate the transition to a world where companies can offer digital products, services, and services.
There are also a number of questions about how businesses will integrate digital and traditional advertising in the same company, and what kinds of roles digital marketing will have in the long term.
“We see a lot about how to use analytics to improve business performance, to reduce costs, to improve efficiency and to help organizations increase their reach and customer value,” said Wojciechowski.
“But we’re also concerned about how that information will be shared, how it will be made accessible to users, and how that will impact performance and ROI.
It’s an evolving landscape.”
For more insight from CNBC contributors, follow @CNBCopinion on Twitter.