It’s never too early to begin planning your digital marketing strategy for the coming year. If you’re wondering how to allocate your marketing budget in 2019, you should know that 82 percent of marketers are planning to increase their digital spend over the next 12 months. In fact, according to Nielson’s recent CMO Report 2018, businesses are planning to increase their digital spend by an average of 49 percent next year.
Of the digital channels that marketers want to increase their investment in, Nielson’s recent report reveals that social and search are the most important digital channels for 73 percent of respondents.
In regards to social spend, marketers will make social retargeting campaigns a priority to re-introduce consumers to products that they’ve already expressed an interest in. A well-implemented social retargeting campaign is an effective strategy for earning more conversions while inspiring brand engagement along the way.
With the majority of consumers now performing online searches using their mobile devices, local search will be an area of focus for digital spend in 2019. Also, considering that 50 percent of searches will be performed using voice technology by 2020, businesses will invest more money in the coming year to capitalize in voice search.
Although businesses are increasing their investment in digital marketing, only 26 percent of the companies surveyed feel that they can confidently measure the ROI of their digital spend. Going forward, marketers will place more emphasis on gaining better insights than just accumulating more data. Finding a way to break down the data into valuable customer insights will enable businesses to develop a refined customer-centric digital marketing strategy and earn more conversions.
If you’re like the vast majority of businesses, you’re planning to increase your digital spend in the coming year. However, determining how to spend your budget can be challenging and vary depending on your goals.