Do you know what’s big in the global digital marketing industry at this very moment? You might be surprised, but it has become a phenomenal industry worth more than half a trillion dollars as businesses globally are expected to spend around $605 billion throughout the year.
Overall, digital advertising in Australia grew by 25.8 per cent towards the end of the first quarter of 2021, which equates to around 2.5 times the global growth spend.
Australia is also the fifth largest social media advertising market in the world and its market size is predicted to increase to $2.8 billion by 2024.
What do these figures tell us?
Two things come to mind when you talk about these mind-boggling figures- a lucrative and competitive market for digital marketers and the other is a formula for success for businesses and organizations.
Let’s face it, digital marketing is on the rise along with customers’ expectations anchored on their need for a more personalized digital interaction and experience. In fact, according to Gartner, 98 per cent of CMO’s have merged their traditional and digital marketing programs that are incorporated into their company’s key technology investments particularly in digital commerce and social marketing.
No matter what type of digital technology resources are used, the main focus of companies is to generate and maximize revenues. It’s not difficult to figure out that with the vast amounts of corporate dollars invested into digital marketing campaigns, there’s a lot to be had in terms of the benefits that they get out of it – return on investments, increased revenues, and enhanced investment asset portfolios.
As a result, digital marketing companies would strive hard to compete in the market to stake their claim on a piece of that pie.
What does the future hold in store for digital marketing?
Digital marketing is rapidly transforming businesses – including real estate – around the world, whether it is a brick-and-mortar or online agency, which comes as no surprise to see the marketplace has adapted to digital technology.
More consumers develop the habit of researching and purchasing products online and based on the latest statistics, 82 per cent of consumers take time to conduct online research for products, while 79% of them move on to complete their purchases online.
So, how do businesses get hold of these consumers? Simple, through digital marketing.
Most, if not all, businesses are now implementing digital marketing tactics to reach out to their target audience and engage consumers online. As a matter of fact, the industry is looking forward to better days ahead, as digital marketing spending globally is expected to go up to $330 billion by 2021.
What qualities should I look for in the best digital marketing agencies?
There’s no better time than now to start considering digital marketing for your business if you are not into it yet.
However, it is critical to make sure that you find the ideal digital marketing agency that can give you the results you need and – with the top-performing agencies – even exceed your business expectations.
With the increasing success of digital marketing in the marketplace and demand for these services, it is not surprising to find several “agencies” offering their services to unsuspecting clients.
Here are several essential qualities to help you look for competent and no-nonsense digital marketing agencies that are worth your time, effort, and money.
A ranking and performing agency website
It’s obvious, right? A good digital marketing agency needs to show proof of their expertise and having a top-performing website that is current and up-to-date is no exception. You know they mean business when they practice what they preach and have the results to show for it.
For instance, if agency practices have proven search engine optimisation (SEO) methods work it should be easy to find them on Google by searching for their core services and geographic location.
Most people would agree that a good website should have the key elements of effective inbound marketing strategies, such as having a responsive web design, intuitive navigation, effective call to action (CTA) strategies, and an active blog, as well as sporting a modern feel and drive constant engagement with readers.
Recognises the team value
Great digital marketing agencies do not rely on a single source of knowledge rather it is made up of a diverse team of talents and experts. These agencies are not ashamed to showcase their professional teams, especially if they have the credentials and track records to show for it.
For example, a powerhouse digital marketing team is made up of multi-disciplined members that have their unique expertise in the fields of development, design, SEO, social media, content strategy, brand development, etc.
Tools and resources
One major factor that helps identify an outstanding digital marketing agency is the tools of their trade that are available at their disposal. These companies invest a lot of time and money in their tools and resources to serve their clients.
There are various types of tool resources that are used in the industry for project management, website performance, SEO, inbound marketing, email marketing, social media analytics, CRM, etc. Not only do these tools equip them to carry out your marketing objectives, but it also provides business intelligence and data that would help identify the strong and weak areas of any marketing campaign to develop strategies and optimise results.
Experience and expertise
You must choose the best digital marketing agency that knows how to speak your language and communicate their processes clearly with you- this is a clear indicator that they know what to do and provide you with the best options for your business.
Validate this by checking out their professional portfolio and finding out what companies similar to yours have to say about their track record.
Do their presentations match your goals and objectives? If so, you can include them in your shortlist.