The digital marketing experts at Exults analyze the performance of various online channels in 2020 as global media spending reached a significant turning point.
FT. LAUDERDALE, FLORIDA, USA, January 21, 2021 /EINPresswire.com/ — Exults, a leading digital marketing agency, is delighted to disclose that in 2020, for the first time in media spending history, digital ads represented more than half of all annual advertising revenue.
According to a recent report from Marketing Dive, the digital ad market grew by 5.4%, or $110.1 billion in 2020, and predictions indicate that growth will continue into 2021. Projections for next year suggest that digital advertising will bring in $130 billion, seeing an 18% increase in spending.
Given the fact that more people are spending time and money online this year — and accounting for the reality that many businesses had to rely on eCommerce when the health crisis started — it makes sense digital ad spend is on the rise.
Even now, as some retailers have reopened and started welcoming in-person shoppers at limited capacities, many consumers are doing their shopping online. Given the convenience, it is possible this trend will continue post-pandemic. That means digital advertising will likely continue on this growth trajectory. In its 2020/21 COVID Impact on Advertising report, Interactive Advertising Bureau (IAB) noted digital advertising categories that have grown in 2020 include:
● Paid Search (up 26%)
● Social Media (up 25%)
● Connected TV (up 19%)
● Digital Video (up 18%)
● Digital Display (up 15%)
Tech giants like Amazon, Google, and Facebook have reaped the benefits of this shift to digital advertising. Together, these three companies make up around two-thirds of the U.S. digital ad market, according to data from eMarketer that was published by The Wall Street Journal.
Breaking down these companies’ growth further, Amazon’s ad revenue increased by 51% in Q3 compared to the same time last year, reporting $5.4 billion in ad spending. Google brought in $37.1 billion, recording a 9.8% increase in revenue. Finally, Facebook ad revenue during Q3 amounted to $21.2 billion, marking a 22% boost.
Around 70% of advertisers are waiting to see how the situation surrounding digital marketing unfolds before dedicating ad dollars to it in 2021. However, the category still anticipates growth of roughly 5.3%.
Brands would do well to consider utilizing digital advertising before the new year arrives. Given vaccines will likely take months to distribute to the public, consumer behavior with respect to online shopping and digital consumption is unlikely to see a major shift soon. Even with a return to normal, this year may have set a new standard when it comes to advertising.
More About Exults Internet Marketing Agency
Exults Marketing is a full-service internet marketing company that is results driven. Offering a complete range of internet marketing services to reach its clients’ goals, Exults premier services include:
● Digital Branding
● Website Design and Development
● eCommerce platform development and management
● Search Engine Optimization
● Pay Per Click Management
● Social Media Marketing
● Digital PR
If you are interested in rebranding your company for the digital business world to spark meaningful engagement and online sales, contact Exults. For more information, please visit the Exults website (https://www.exults.com/) or call 866-999-4736.