Nearly Half of Businesses Spend More Than $500,000 on Digital Marketing
Businesses today prioritize their online presence, devoting more resources to digital channels that get them in front of customers, according to data from a recent survey.
WASHINGTON, Sept. 12, 2018 /PRNewswire/ -- Almost half of businesses invest at least $500,000 in digital marketing every year, according to a new survey from The Manifest, a business news and how-to website.
Forty-one percent (41%) of businesses spend at least $500,000 on digital marketing annually, and 81% spend at least $50,000.
Investment in digital marketing is likely to increase every year, experts say.
"There's been a significant uptick in digital marketing spend because it's where consumers are," said Flynn Zaiger, CEO of Online Optimism, a digital marketing agency in New Orleans. "If you're trying to be in front of your customers, the screen is the place to be."
Ninety-Nine Percent of Businesses Will Increase Digital Marketing Spending by Mid-2019
Almost every business plans to invest more time and money in digital marketing.
Among businesses that use digital marketing, nearly all (99%) plan to increase their investment in at least one channel in the next year.
Businesses place considerable value in digital marketing and want to invest more in it because customers spend much of their time online.
"Everyone is online, all the time, and digital marketing is crucial in reaching this huge audience where they are," said Aylin Cook, head of content marketing at digital marketing agency Single Grain.
Businesses Will Spend More on Social Media and Websites
Most businesses plan to increase their investment in a combination of digital marketing channels, with social media (64%) and websites (55%) topping the list.
Experts say both channels are easy investments for businesses and deliver clear returns.
"[Social media marketing and websites are] the strategies that business owners are most comfortable with," Zaiger said. "If you're trying to make a decision that will at least guarantee some sort of results, chucking money at social media or your web designer will make something happen."
Businesses want to invest more in social media and a website because they are easy investments with measurable results.
One-Third of Businesses Plan to Outsource Digital Marketing
Among businesses that rely solely on in-house staff and software for digital marketing, nearly one-third (32%) plan to outsource their digital marketing within the next year.
Outsourcing digital marketing can help a business receive essential external perspective, experts say.
"[Companies] should be getting an outside perspective because sometimes extra minds can be a really big bolt to someone's system," Zaiger said.
Overall, the survey indicates that businesses across all industries value digital marketing and will continue to spend more on it every year.
The Manifest's 2018 Digital Marketing Survey included 501 digital marketers from U.S. companies with more than 100 employees.
Read the full report here: https://themanifest.com/digital-marketing/how-businesses-invest-digital-marketing.
For questions about the survey, a comment on the findings, or an introduction to the industry experts included in the report, contact Kristen Herhold at [email protected].
About The Manifest
The Manifest is a business news and how-to website that compiles and analyzes practical business wisdom for innovators, entrepreneurs, and small and mid-market businesses. Use The Manifest as an approachable tour guide through every stage of the buyer journey. With three main offerings – data-driven benchmarks, step-by-step guides, and agency shortlists – The Manifest strives to make your business goals a reality.
Contact
Kristen Herhold
(202) 840-6690
SOURCE The Manifest
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