Make mine digital: Online marketing overtakes traditional approaches

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by Mallory Dash

According to a few new reports that came out in the last week, digital marketing is becoming more and more established as an approach to strategic marketing efforts. Marketers are increasingly choosing an online approach over traditional media. And within online media, advertisers and marketers are relying more and more on social media, viral and mobile marketing as opposed to banner ads.

The first report, the Online Marketing and Media 2008 survey, indicates that although there is distinct growth in social media and viral marketing campaigns, what marketers need most (and continue to lack) is a definitive measurement scheme to understand the impact of their work. This problem of measurement is common to many aspects of marketing, especially PR and advertising .

In another report from eMarketer, a survey makes it clear that advertisers are overwhelmingly choosing to increase their online ad budgets - around 90% said they would put more money into these efforts. These funds will come from money previously allocated towards print marketing. According to the survey, 55% of respondents said “they will probably decrease print ad spending in the next three years.”

Even Google’s Eric Schmidt says the trend is heading towards more digital approaches, especially on the mobility side. Sure, he has some vested interest in propagating online advertising through AdWords, but not even the fiercest small-town newspaper editor can deny the increasing comprehensiveness of online marketing.

And the stats just keep on coming. In an article outlining a recent IDC market research survey, InformationWeek states that “Internet advertising in the United States will grow eight times faster than the overall market, surpassing newspapers, cable TV, and broadcast TV by 2012.” Efluxmedia, in another article on the IDC report, speculates we are entering the “Internet advertising era.”

The Yankee Group also released their own report about growth in online advertising. They expect this market to reach $50.3 billion by 2011, twice the amount of 2007. The report points to a growing number of users, new methods of advertising, and new business models for publishers that will facilitate the implementation of more interactive ads as catalysts behind this change.

All of this is great news for digital marketers. The field is becoming more robust, more money is pouring in, and the tools available for marketers are only bound to grow in number, scope and usefulness. It will definitely be exciting to keep and eye out and see what the future holds for the space.