In 2019, the amount of money spent on digital advertising is projected to pass spending for print and television advertising. This change marks a notable transition in the marketing world, with various forms of digital marketing looking like they’re here to stay long after print begins to be phased out.
The Digital Marketing Shift
In recent years, the results shown from digital marketing over print marketing have pushed businesses large and small to opt for a stronger digital presence. As larger corporations like Amazon delve deeper into providing advertising services, small businesses will have an easier time than ever accessing digital advertisements.
The increase in digital marketing will likely lead to an increase in revenue for the businesses that are able to provide services. Amazon, who still remains new to the digital advertising landscape, is expected to bring in $11 billion in revenue from advertising in 2019. Providing digital advertising, specifically to small businesses, is likely to be a highly profitable industry in the near future.
Expanding Advertising Means Expanding Industries
As digital advertising appeals to more and more businesses, connected industries will likely grow in response to meet the rising demand. Internet marketing companies and SEO firms are likely to see success, however, other industries may also benefit from the rise of online advertising.
Depending on how it’s used, video can be an incredibly effective form of digital advertisement. As a result, equipment used for recording video and audio has become a more profitable business to be in. Over the past five years, the audio and video equipment manufacturing industry in the United States has grown by 0.4% to reach revenue of $3 billion in 2019. Industries that are tied to digital marketing or advertising, like the audio and video equipment industry, are likely to see an increase in business as a result of digital marketing’s continued success.
Impacts On Businesses Big And Small
It’s not only larger businesses that will be able to benefit from the rise of digital marketing. Small businesses, defined as businesses with fewer than 500 employees, account for 99.7% of all business in the United States, meaning that the bulk of the growth in this form of advertising has been due to small businesses. While many major corporations have had access to digital marketing methods for decades now, small businesses are fueling the majority of this growth. However, not all small businesses are seeing the results they’re looking for.
While larger companies are able to manage their digital advertising with specialists and departments specifically geared towards managing this medium, small businesses don’t always have the resources to dedicate to their marketing. This results in 65% of small businesses struggling to gain website traffic and leads. As digital marketing continues to grow, it will be essential for these businesses to learn more about internet marketing in order to keep up with the competition. Otherwise, there’s a chance small businesses will suffer moving forward, as larger corporations focus their efforts more heavily on digital marketing.