The economy continues to dig its way out of the recession, and businesses that hunkered down for years are beginning to market themselves again. And many of them are realizing that the marketing world in 2016 is a very different place than it was in 2008 when last they really invested in their marketing efforts.
Marketing has changed more in the past five years than in the past 50. For example, consider these channel developments in the last few months:
- Mobile: According to comScore, mobile now captures two out of every three digital media minutes in the US. Yet responsive websites are just beginning to propagate across the web. Last year, only 20% of Internet Retailer’s top 500 mobile retailers had adopted responsive design websites.
- Search: Google’s Hummingbird algorithm may now serve listings it thinks users want – based on what part of the funnel they’re in.
- Social: Has been legitimized in the past ten years; the number of Americans using social media regularly has moved from 7% to 65%. But proving effectiveness beyond vanity metrics is still challenging for organizations without visibility into true multi-touch attribution.
And, according to Scott Brinker’s 2016 Technology Landscape – an annual compendium of marketing technology vendors – there are now 3,874 marketing technology solutions in the marketing tech stack, an 87% growth (!) over 2015.
This is heady stuff for marketers, let alone business leaders. And increasingly, those company leaders are turning to agencies to catch up, keep up, and move ahead of their competition.
Digital Work Drives Agency Growth
According to AdAge’s Agency Report 2015, digital’s share of US agency revenue reached 40% in 2014.