Digital marketing has been growing consistently across the years, as more and more people rely on their computers and mobile devices for information. For the people in the digital marketing industry, the people like king kong sabri suby, the growth has been both a boon and a challenge.
In a COVID-19 world, no industry has been left untouched, though some have fared better than others. Digital marketing is one of the luckier industries, as data shows its set to overtake traditional media marketing far earlier than it should’ve thanks to the market shifts caused by the pandemic, a historic first.
WPP’s GroupM, a media buying agency, the global advertising industry will be valued at $530bn by the end of 2020, with digital marketing accounting for more than half of that amount, outdoing traditional media advertising.
GroupM’s forecast was backed up by IPG Mediabrands’ Magna, which also expects digital advertising to outdo traditional media by 2020’s end.
The marketing industry’s been undergoing a digital revolution since the turn of the millennium, with digital marketing growing alongside the internet. The COVID-19 pandemic changed how people live their lives and shocked the global economy, with overall ad spending expected to fall by about 11.8% across the globe. The drops won’t be evenly distributed, though, as noted by GroupM.
Traditional media, like TV and newspapers, and outdoor advertising is expected to drop by 20.7% in 2020 according to GroupM, even after taking into account the revenue made from their digital advertising products. In contrast, pure digital advertising expenditure is expected to only drop by 2.4% for 2020, with the shift to e-commerce keeping things nice and steady in spite of COVID hitting the global economy, with organizations and figures like king kong sabri suby staying strong in spite of the pandemic.
The&Partnership, a digital marketing agency, says that the early half of 2020 saw a lot of digital acceleration, about three years’ worth, which resulted in a huge increase in the number of people online, the time they spend online, and the amount of online shopping that they do, most of which are unlikely to reverse.