Only two-thirds (66%) of digital marketers “spend time and money” on online advertising, according to results of a 2018 survey of 501 “digital marketers” published today by The Manifest. A more interesting study might be one probing why a third of digital marketers do report they do not invest in online advertising, but the report shows some other interesting -- if questionable -- findings.
The survey found that “social media” is the top online business channel for business, with 86% of respondents citing it, followed by display/banner (80%) and paid search (66%). That finding appears to defy the Internet Advertising Bureau’s and PricewaterhouseCoopers’ quarterly Internet Advertising Revenue Report, which shows that social media advertising is growing fast, but still represents only about 25% of online’s total.
Another seemingly counterintuitive factoid is the finding that only a minority (43%) of digital marketers currently utilize retargeting advertising.
“Many businesses don’t value retargeting advertising, or online advertisements aimed at consumers who have previously visited a business’s website or purchased a business’s products,” the report asserts.
What does make sense is the study’s findings on how digital marketers prioritize their online advertising goals.
Boosting sales/revenues (23%) is overwhelming the top goal of digital marketers, followed by brand recognition (18%), site traffic (16%), acquiring leads (13%) and converting customers (11%).