The new world of marketing is about adapting to what the consumer is wanting. “The online consulting space is estimated to be a $15 billion dollar industry. Jim writes on his blog at jimjinright.com; there are many business operators that have failed to realize that the marketing paradigm has shifted from traditional marketing to web based marketing.” Times were good when companies were investing in Print, Tradeshows, Billboards, TV, Direct Mail and even Telemarketing. At the economy moves on a downward spiral and consumers are moving to the electronic devices, companies are looking for ways to speed race their marketing to social media and online advertising. Many consumers are looking for details and what is the fastest way to reach the consumer than in the online space of advertising. This includes social media, targeted search marketing as well as mobile marketing. It is said that over 50% of people have a smartphone or and iPhone.
A new report by Forrester Research forecasts that U.S. interactive marketing spending will reach $76.6 billion by 2016, equal to TV spending this year and comprising 35% of all advertising. That's a big jump considering that this year interactive will comprise 19% of all spending, according to Forrester. With the fastest growing category in mobile many companies are trying to stay a head of the curve with M.websites for Driods, iPhone and iPads. Mobile is set to reach $8.2 billion in 2016. (Cotton). Cotton also predicts the rise of subsidized hardware from media giants such as Google and Yahoo, which would look to embed ads into the displays of smartphones, tablets and e-readers in return, creating the possibility of enhanced user targeting for advertisers. It also foresees the onset of daily deals fatigue.
As one continues to increase their marketing spend, one must continue the online trends of the consumer. Multiple generations are now using the Internet to look up a variety of information. Personally in my late 20’s my generation always wants information as it was yesterday, we are the type that must have the answers now. Companies must continue to look into innovated ways to constantly reach their consumer. If they do not, their competitor will. Do not let your competitor beat you and rise because of new online, media and digital advertising.
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