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Today, the digital media revolution is creating another boom. With the rise of the internet, social media, and advanced data analytics, brands hope to target their customers more than ever before.
But despite the promise the digital advertising represents, it has become increasingly complex. Brands need to invest in digital media while also maintaining their position in traditional advertising: this is no simple matter, given the constraints of companies’ advertising budgets and the challenges they face online. Bot followers and fake likes can be as harmful to advertising as fake news to politics, so measuring the return on digital media is challenging.
Regardless of sector or industry, to thrive on today's commercial battlefield, embracing the emerging technologies, trends and cultural shifts is crucial. If your business is looking to secure a sustainable commercial future, investing ample time, money and energy into your digital transformation strategy is a wise move.
By 2020, experts project that spending on digital transformation strategies will break $2 trillion globally. That's a colossal level of investment by companies across sectors. Finding the right allocation of budget between digital and traditional media is a challenge. When managed correctly, digital media allows for more precise targeting than traditional media, making it more efficient. If you can keep a balance between both things can be better placed.
Digital advertising investments promised to increase efficiency but have often only increased the total bill and put the current operating model in question. The global advertising market is growing, much of it driven by digital spend, which is forecast to grow at three times the rate of global ad spending.
If you have a website, e-commerce platform, or you’re thinking about creating one, you should consider investing in digital marketing. Today’s hunger for visual content is inherently digital and to connect with your target audience you have to provide engaging marketing materials that are video-based. Digital channels and touch points are the best way to deliver such communications.
Bloomberg recently reported that Snapchat is experiencing a steady decline in daily users, and its situation isn’t expected to improve any time soon. While Snapchat is certainly far from “dead” – there are still 186 million active daily users, according to Statista — many brands may opt to wait and see if engagement stabilizes before spending precious advertising dollars on the platform.
Snapchat’s downward trend may well prompt second thoughts for many brands that were considering marketing on a digital media platform, including whether to move forward and, if they do, what the best strategy will be. Of course a wise decision to invest at the right platform can be a difficult task but doing so will make a lot of difference to your business.
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