Businesses Spending More on Digital Advertising and Marketing

A recent report from Outsell, the world’s only research and advisory firm focused on media, information and technology; found that businesses will be spending more on digital advertising and marketing.

The Outsell’s Annual Advertising and Marketing Study 2016, advertising and marketing spending will increase 4.7 percent this year, reaching $473 billion. Digital efforts encompass half of that, increasing 12.5 percent to $228 billion. The spending on digital equals the combine spent on print ($96 billion), TV/radio/cinema ($88 billion) and events ($45 billion).

Digital marketing has become the prevalent form of advertising for brands and companies want to reach as many customers as possible. The report from Outsell’s showed that the new digital marketing will focus on personalization and customer experience optimization on cross-channel campaign efforts. Randy Giusto, vice president and lead analyst for media, advertising and marketing research for Outsell, said using digital offers brands and companies more options for everything.

“New ad formats and the increasing use of video, as well as the emergence of big social brands as news and information curation and distribution hubs offers new choices to advertisers and marketers in 2016. All things considered, it’s all about attribution, connecting an actual sale back to the marketing touchpoints along the customer journey to justify the spend," Giusto said. “New forms of mobile, video, and social advertising present new forms of creative and content, as well as new data streams with which to analyze and act upon on.”