Is Digital Marketing an Industry?
Updated: Mar 17
Is Digital Marketing an Industry?:
Yes, digital marketing is an industry and is also a lucrative skill too. As per Semrush, the global digital advertising and marketing market is set to reach $786.2 billion by 2026.
“Online Marketing is an [ever-changing industry] in terms of regulations, technologies, and players. All 3 factors affect each other in one way or another, causing the changes or driving them. Agencies and marketers started looking for new traffic sources and approaches to allocate the resources better and calculate the ROI of the user acquisition” - Matvey Schmidt, Head of Advertisers Department at PropellerAds.
Digital Marketing as an Industry:
As per the Digital 2023 Global Overview Report by Meltwater and We Are Social, the annual total digital advertising market is $667.3 Billion.
Digital marketing is the practice of using digital technologies, such as the internet, mobile phones, and other digital mediums to promote a product or service.
It is a form of marketing that has become increasingly popular in recent years, especially in a post-pandemic world, as the internet and other digital platforms have become more accessible to consumers than ever.
Do you know? Users accessing the Internet through mobile phones is 92.3% as per the Digital 2023 Global Overview Report.
“Global Ad spending in the Advertising market is projected to reach US$1,004.00bn in 2023″ - Statista
Digital marketing encompasses a variety of different strategies, such as search engine optimization (SEO), content marketing, social media marketing, email marketing, pay-per-click [PPC] advertising, display advertising, influencer marketing, affiliate marketing, and more.
Each of these strategies can be used to reach a specific target audience and influence their buying decisions including increasing brand visibility and awareness.
“With changing consumer preferences, shifting buying behaviours, and rising customer expectations, marketers remain future-focused and cite “experimenting with new marketing strategies” as their #2 priority” – Salesforce Research [State of Marketing, 8th Edition, 2022]
As digital marketing has grown in popularity, so has the industry that now supports it.
There are now many businesses that specialize in digital marketing, offering services such as website design and development, search engine optimization, social media management, email marketing, content marketing, influencer marketing, and more.
There are also many companies that offer training in digital marketing, as well as software and tools to help businesses manage their digital marketing campaigns including productivity improvement.
"Regardless of your industry, company, and product or service, marketing isn’t a set-it-and-forget-it practice. It’s constantly evolving, which means you need to constantly monitor, evaluate, optimize, and tweak where needed" - SmartBug and rockcontent [Report for 2023]
Digital marketing is an ever-evolving industry that is constantly changing even though it is saturated. As technology advances and new platforms emerge, digital marketers have to stay on top of the latest trends in order to remain competitive.
As such, there is always a demand for digital marketing professionals or those with marketing skills or niche skills, who can create effective digital marketing campaigns that will help businesses succeed in their goals.
Performance marketing and artificial intelligence [AI] have begun to make ripples in the business world, demonstrating how this industry is rapidly transitioning to a new one.
Overall, digital marketing is definitely an industry - an exciting one - and it's here to stay.
Here's related information that you may find helpful – Social Media Trends 2023 [63 Key Insights and Facts]
P.S: Visit Digital Marketing Forum that answers [most un-answered] questions.
P.S.S: Please don’t forget to forward this blog post to your network so they can get the best tips, practices, strategies, education, resources, & tools to help their businesses grow [sharing is caring].