The Internet has officially taken over the world. According to a report by Etc-digital, the number of internet users reached a whopping 2.4 billion globally in the year 2012. The report further stated that this increase was fueled by a growing number of users in emerging markets.
Additionally, Hongkiat, a renowned technology blog reported that on an average, people spend approximately 1.25 hours/day on social networking websites. With millions active and spending increasing amount of their time on social media websites, brands are almost racing to capture the attention of these users.
But in their bid to be the first to capture the newly booming mobile space, and also partially due to the “social media hype”, marketers seem to be ignorant to the fact that an average individual spends 1 hour/day, making in-game advertising a highly engaging advertising medium to reach millions of users. However, we hope to see this trend change in the next couple of years.
Advertising on the internet is growing at a rapid pace and is estimated to capture 25% of the market share by 2015. In the current year, total advertising expenditure on internet marketing has been estimated at $135 billion dollars.
If we were to further break this down into the various social media channels, we will see certain trends emerging. For instance, businesses can link with 50% of their customer base through Facebook. Professional networking site LinkedIn has paved the way for 43% of marketers to find their target consumers.
Another factor contributing to the rise of digital marketing is analytics. With millions of people actively engaged on social media, a vast amount of user behavior related data is being generated on daily basis. Companies are now shifting their focus to mining this data to find patterns and generate insights to enable more informed decision making for marketers.
Without doubt, the future of marketing will be driven by online marketing and Big Data analytics, which will lead to more efficient marketing strategies and an increase in competition in online marketing, making it clear why going digital is the new normal.
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