Global marketing is an interesting phenomenon, and it can be difficult to ascertain how trends might impact your personal business. A recently released report, produced by eMarketer, seeks to understand global advertisement spending and trends. We’ve boiled down this massive report to the highlights and applied the findings to how you may or may not be affected. Here are five essential trends to watch.
Ad spend growth is likely going to increase. Advertising spend has been growing healthily for several years. The eMarketer report forecasts that, worldwide, ad spend will increase by around 7.4 percent this year. This steady growth is due, in part, to a relatively healthy global economy. This is good news for brands, as it signals that markets are expected to remain healthy.
The United States will continue to have the largest advertising market. This might not be news to most, but it’s certainly interesting. The aforementioned global ad spend growth has not been spread evenly across countries. The report estimates that, by 2020, advertising spend in the United States will be more than double the advertising spend in China.
The digital share of ad spend is going to continue increasing. The report forecasts that digital spending will account for 42.5 percent of all advertising spend in 2018. At this point, any advertising strategy that does not prioritize digital channels is, unfortunately, outdated.
Much of the digital ad spend will be used for mobile advertising. Digital advertising and mobile advertising are nearly the same. Given this trend, it is critical to ensure that mobile strategizing is front and center in your advertising plan for the coming years.
Traditional media will remain important. While mobile and digital advertising take the lion’s share of ad spending, television, outdoor, cinema, and radio are still essential aspects of advertising.