This is a research based article which takes approximately 3 to 4 minutes to read and it is focused in answering the question on the future of digital marketing in businesses.
Businesses and Digital Marketing
For your business to succeed today one has to consider the online world as it is the new economic frontier. Although there are people who still buy goods in a physical location,the internet is being used by millions of people to purchase goods and services.
Digital marketing budgets total is approximately 2.5% of annual revenues in different industries.The expenses involve content creation,web design,and contract labor,social and mobile market.
Indeed,there are notable differences in the industry expenditure in regards to advertising where healthcare spends the least and the media spends the most as a percentage of revenues. I believe one should develop a rough estimate in digital marketing where if you have a company worth 10,000,000 one should plan a budget that is around $250,000 a year on digital marketing.
Moreover as many companies move online the approach in online marketing has evolved.For many businesses they are ensuring that digital advertising is taking the largest share in the digital marketing while others are slowly appreciating content creation and management in their business.
Notably, content creation is expected to overtake digital online marketing as many business are becoming skeptic on the online audiences and their dislike of being "sold to". I believe it is time for companies to acknowledge that it is effective to offer helpful data which is determined to solve the audience's problems.
Conclusion
Therefore, as seen in the article it is important for your company to develop an effective strategy in digital marketing to spend effectively. Since the future in digital marketing is likely to be content creation it is worth to find out the potion the business is putting into content creation and management.
Student name: Rongyue Ma
Student number:10463334
#ECUindustryreadyproject, #ECUMKT5325, (Disclaimer: This content is for the sole purpose of teaching and learning at Edith Cowan University).