Technology and market research company Forrester forecasts digital media spending will increase to $118bn by 2021, but it projects this spending will slow overall as marketers emphasize brand experiences over volume-based advertising strategies and budgets are reallocated to reflect this trend.
“We are seeing a shift away from quantity, toward quality. Within the next five years, we anticipate investment in ad impressions going down. Instead, marketing budgets will go towards brand experiences, CX and in-store experiences and knowledge of sales agents – the things that will help demonstrate brand promise,” said Shar VanBoskirk, principal analyst at Forrester, in a statement. “Many companies now are wasting impressions, which can annoy customers. It is important to determine user needs and tailor content appropriately. In addition, the structure of marketing and digital teams will shift as agencies take a more holistic and integrated approach to planning.”
Source: The Drum