Want some good news, online advertisers? The digital marketing industry grew a lot during 2016 and continues to do so. The bad news, however, is that the growth is going to two very popular companies - Google and Facebook.
The latest figures shared by the Interactive Advertising Bureau show that the third quarter of 2016 was the biggest so far, with a total of $17.6 billion spent on digital ads. This is a 20% increase from the same period in the previous year because of the mobile and video growth.
It was estimated that digital marketing revenue in 2015 went up by 20% from the previous year to a record of $60 billion. Nearly 65% of the revenue went to Facebook and Google, with the search engine giant taking $30 billion and Facebook - $8 billion.
This duopoly control has an increasing impact on the tech advertising market so far. According to some recent analysis of the Financial Times, both the financing deals and the amount raised by ad-tech companies had gone down sharply in the last year.
The number of ad-tech companies who are raising money has dropped by 17% last year in comparison of the earlier one, and the total volume of funding fell with 33%, putting it back where it was in 2013.
In the past, online marketing was seen as an add-on or a supplement to the traditional advertising markets; however, this is no longer the case. According to the estimates of the eMarketer, spending on digital advertising in the USA will probably grow this year, to the point, where it's more than the amount spent on TV advertising.
This is why, if you are a business owner who wants to achieve business growth and have an online presence, you will need a reliable partner like 411 Locals to manage your online advertising campaigns. In today's competitive market, having a good website and SEO specialists helping you is becoming more and more important, so you should not overlook the significance of hiring a good marketing agency.