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This review examines the latest developments in digital marketing.
Directions in Digital Marketing
To simplify this review, we will look at trends in six main areas of digital marketing. The directions were determined to give business owners and managers a more complete understanding of the success factors of digital marketing, in all of which it is necessary to invest to ensure a holistic approach to digital marketing.
So the six areas necessary for effective digital marketing, which we will consider:
1. Strategy and Management.
2. Goals and measurements.
5. Digital Experience.
Digital Strategy and Planning Trends
A digital marketing strategy is vital to success in digital marketing, as it determines how best to allocate marketing budgets across the main areas.
Recent research on digital marketing investments conducted as part of the Gartner State of Marketing Budgets and Strategy in 2022 study highlights trends in budget allocation among large companies where:
- Marketing allocates more than half of its budget to online channels (an average of 54%).
- In the digital budget, more than 60% falls on paid media.
- There is a fairly even balance between the range of digital media channels, as shown in the diagram in the media section of this post.
If you look at expenses not related to media, then there is again a balance, in this case between paid, owned, and purchased media. A significant amount of spending also falls on insights and analytics.
The structure of marketing resources has hardly changed compared to last year: Agencies and Services (23.7%), Paid Media (25.7%), Human Resources (24.9%), and Marketing Technologies (25.4%).
Trends in Martech – Marketing Technologies
A study conducted by Gartner showed that, according to marketing directors (CMO), companies usually spend 25% of their marketing budget on marketing technologies. This is a surprisingly high amount, especially when you consider that it can be difficult to determine ROI, as well as the fact that, according to the study, there is a problem with using all functions.
Trends in Digital Analytics and Reporting
In the previous section, we saw that there is a tendency to increase spending on business science and data analytics. Artificial intelligence (AI) and, in particular, the use of predictive marketing analytics is growing.
Another trend in this area is the increasing restrictions on the use of data due to consumers’ desire for privacy and government actions to ensure this. In the EU, part of this is the Digital Services Act. In the US, many states have already adopted stricter privacy laws, and this trend is likely to continue.
These consumer protection laws have the potential to hinder targeting and analysis, as they require limiting cookies and mobile device identifiers, as well as less use of other personal signals such as IP addresses and email addresses. It also caused platforms like Apple and Google to react. Particularly significant is the refusal to support third-party advertising cookies in Google Chrome (now postponed until 2023).
This also led to the updating of analytical platforms, in particular, the launch of the consent mode in Google Analytics 4, which many companies will implement in the coming year before the previous version is disabled in July 2023.
Many companies will actively switch to Google Analytics 4 over the next year. Although there are many guides on the technical side of migration, they usually do not explain the consequences of changes in the use of GA for marketers and marketing teams.
At the highest level, the media that marketers can invest in has remained stable for many years.
In this article, we have analyzed only a small number of marketing trends this year. We hope that this article was useful to you and you will be able to apply this knowledge in practice. Digital marketing is a real magic wand, if it is in the hands of a real wizard. Keep learning more about marketing, develop and you will reach many heights.