Due to heightened political and economic uncertainty, UK companies have cut their marketing budgets during the third quarter of 2019, however their spend on digital marketing has increased to £7.3 billion.
This is consistent with reports indicating digital media spending will account for 66.4% of all media ad spend in the UK during 2019, where an increase in hiring for digital roles indicates brands anticipate this trend to continue.
However, whilst marketers may expect digital strategies to deliver cost-effective, real time results, it is important they consider external market trends before diving into a potentially costly cross channel marketing strategy.
67% of all UK consumers are active across social media, with the majority present on Facebook, closely followed by Snapchat, Instagram and Twitter. Controversially, however, users are starting to abandon these platforms.
Reports indicate around one in three UK adults are starting the cut back on their social media usage. Whilst the ‘go to’ reason for this is typically mental wellbeing, research indicates this only accounts for 21.1% of those reducing usage. Instead key drivers are information overload (29%), Addiction/time wasting (27.2%) and a lack of trust (26.7%).
Whilst this sparks concerns regarding the efficiency of digital and content marketing strategies in reaching core audiences, it is important brands recognise these as potential barriers and adapt communications to meet the audience requirements to stay ahead.
As 72% of consumers are likely to engage with marketing messages which are personalised and tailored to their usage habits and interests, it maybe that tailoring marketing content is an effective solution to the issue at hand. With this tailored offering, 48% of marketers find their content performs more effectively, creating a commercial benefit.
In answer to the question is digital marketing set to remain, we would say yes, but potentially not in the way we are used to seeing it.
Over the next year we anticipate marketing strategies to become increasingly audience and brand strategy driven. Consistent with audiences of all ages wanting more value and purpose driven communications, we are expecting to say goodbye to the mass communication model in favour for one which is more focussed on core audiences and markets.
For a more personal chat about how digital trends are affecting the marketing landscape, feel free to get in touch with us today.
Header: Close up of smart phone by Pixabay https://www.pexels.com/photo/close-up-of-smart-phone-248533/
Image 2: Marketing strategy sign by Kaboompics .com https://www.pexels.com/photo/marketing-strategy-6229/