Digital Marketing can be seen as an emerging philosophy and business practice. Nearly half of companies in North America and Europe don’t have a clearly defined digital marketing strategy let alone the analytics to optimize the data which is imperative to a company’s success. The average ad spending per user in Search Advertising, a method of placing online advertisements on web pages that show results from search engine queries was projected to amount to US$37.13 in 2021 according to Statista.
The average ad spending will drastically increase in 2022 because of uncertainty. COVID variants and beleaguered businesses will need to optimize their analytics to increase their sales and global visibility (goldfishes.co.uk). Generally, start-ups spend about 11% of their revenue on their marketing budget (HubSpot). Products, services, and brands can be marketed using the Facebook, Twitter, TikTok, Google Ads, and Bing Ads in various methods combined with traditional marketing such as billboards in cities. Traditional marketing still exists, but to capitalize your campaign you need to go digital.
Since the rise of large internet-based e-commerce sites, Digital Marketing has been growing. The organic growth of online shopping has been exponential, with a huge increase in the number of consumers choosing to buy online rather than in-store. Not helped by the pandemic uncertainty, many traditional retailers have also followed suit, with most shops now having a dedicated e-commerce website from which consumers can make online purchases, from high street brands to charities along with the analytics they use. Digital marketing makes shopping easier for the consumer. If a seller knows what his target audience wants, it makes marketing more cost efficient and there are affordable analytics for optimization.
Companies that embrace data and analytics initiatives can experience significant financial returns. Research by McKinsey shows organizations that invest in big data yield a six percent average increase in profits, which jumps to nine percent for investments spanning five years. For 2022, Goldfishes projects a need for start-ups, micro-entities, small and medium-sized enterprise to fine-tune their business operations with analytics for their website. A lot of people can crunch numbers, but they’ll be in very limited positions unless they can help interpret those analyses in the context in which their business is competing not including have the intellectual property to be able to achieve precision. Furthermore, exploring established digital marketing channels and gaining insight into why analytics for precision targeting and programmatic advertising are strategically important.
Wyoming Investor can help you achieve your desired goals for 2022.