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According a recent SoDA report, digital marketing efforts are expanding and it's the internal growth of resources where most companies are looking to boost their offerings.
This is leading to changes in working relationships with agencies as there is a shift to niche areas of expertise instead of a “one-stop shop” digital partner.
As part of the SoDA report, Econsultancy's Digital Outlook Marketing Survey shows a conservative yet steady growth of digital marketing spend according to the 650+ digital marketing professionals surveyed. The spending growth includes the addition of social media activities and an explosive growth of inbound marketing.
One of the biggest moves in spending continues to be the shift from the more expensive, traditional tactics to digital ones. While they move digital companies are taking the opportunity to save funds. More often, every dollar lost from print and TV budgets are resulting in only a gain of 20 cents toward digital.
According to the respondents, only 22% of client marketers are planning increases in traditional media spend whereas 50% have forecast an increase in paid digital media. To support content marketing and further social efforts, over two thirds plan to increase their earned digital media efforts this year.
The report goes into further detail outlining insights from top Fortune 200 executives and agency influencers on where our industry is heading and where it’s not. Adding context to the survey responses, the SoDA report includes over 20 essays including a piece on the growth and promise of marketing attribution by our head of research in the US, Stefan Tornquist. Other topics include the changing online consumer, the nature of the agency relationship in the digital age, and how to grow strategic relationships.
Download the report as part of our membership offering to take advantage of our comprehensive study and SoDa's collection of contextual essays assisting marketers on the move toward digital.