Digital Marketing: Spending Up But Confusion Common
Businesses know that digital marketing is increasingly important, and many plan to increase their spending in that area. That makes sense, but the problem is that quite a few of those marketers don’t really know where exactly they should be investing their money or how best to use digital strategies to achieve their goals.
A new survey from Forrester Research found that almost half of all marketers plan to increase their spending on digital marketing channels this year. Digging further into the numbers, though, it becomes clear that while marketers know they must focus on digital, they are less certain about which specific tactics work or how they can best implement them. Around 43% of respondents said they are still experimenting in this area and haven’t yet figured out which tactics are most effective.
The analysis of the data by Forrester researchers seemed to warn that marketers trying to find their way in the digital landscape these days are susceptible to what you might call the “shiny object” syndrome. Meaning, they are constantly getting so distracted by the latest new gadgets or “must have” tactic that they are getting sidetracked from focusing on tactics or strategies they have already started. This may prevent them from sticking with any one thing long enough to gauge the results and figure out if it works.
Marketers also seem to have trouble thinking about long-term strategies when it comes to digital marketing. Slightly more than half of the respondents said their approach to digital is tactical and reactive, rather than strategic and proactive.
We think it’s great that companies have realized the importance of investing in digital, and that’s certainly an area we advise our clients to put high on their priority list. However, making in investment in digital efforts is only the first step. You then must be committed to seeing the execution through, and sticking with a well-planned, long-term strategy.
Constantly abandoning new strategies early in the process and jumping from one thing to another will make it difficult (if not impossible) to accurately assess how each tactic performed and which options are the most promising for you.
For those who are anxious about their lack of expertise or insight into the latest digital strategies, KEO Marketing can develop a comprehensive long-range digital marketing strategy for your business.