Data shows healthcare and higher education industries boasted the highest advertising spend in 2019, highlights trends for advertising success despite the impact of the pandemic
TapClicks, the leading unified marketing platform for analytics, intelligence, reporting, workflow and orders management, today released its inaugural insights report, “The New Normal: Digital Marketing Insights from TapClicks, Spring 2020,” that evaluates the current state of the digital marketing industry amidst the COVID-19 pandemic. The report reveals key opportunities to drive revenue through digital marketing and highlights strategies for various industries to optimize campaign spending accounting for the changing dynamics of the remote-first economy.
The digital marketing industry is in a state of flux as industry segments pivot business models in response to the global health crisis. This has resulted in descaling budgets and spending with discounted products and services, shifting e-commerce strategies, new delivery methods, and remote services emerging throughout the industry. While these changes present unforeseen challenges, they also present marketers with opportunities to differentiate their brands and emerge from pandemic conditions as market leaders.
The TapClicks report examined industry data from over 900,000 advertising and marketing campaigns managed through TapClicks’ proprietary analytics platform, accounting for more than $121 million in total spending and focusing on several key industries. Data in the report also accounts for trends across six distinct advertising channels, including social, SEM/PPC, video, location-based, programmatic, and display, offering rich insights to help marketers accelerate campaigns and fuel success into 2021. The highlights include:
Opportunities for Revenue Growth:
- Healthcare: The healthcare industry saw the largest overall marketing spend, $30 billion, in 2019. TapClicks expects that spending will continue to grow as demand for remote care and support across the industry continues to accelerate in light of the pandemic.
- Higher Education: Higher ed institutions spent more than $100 million on digital media, with colleges and universities spending the most, roughly 17 percent of the total. As uncertainty remains about reopening timelines and these organizations adjust to a new reality, those responsible for advertising and marketing will have to address new market conditions and changing student attitudes to drive decision making.
- Car Dealers and Leasing Companies: The auto industry was immediately impacted by the economic ramifications of COVID-19. But TapClicks’ data indicates that the industry is likely to see an aggressive bounce back where active marketers in this segment can capitalize on the opportunity by leveraging new incentive programs and customer-centric promotions.
Advertising Channel Trends:
- PPC/SEM Will Continue to Be Marketers’ Favorite Channel: TapClicks’ data shows that roughly 54 percent of customer budgets had gone to SEM/PPC in 2019. Companies are increasing their share of the budget dedicated to this channel to boost success. The most effective campaigns leverage a substantial mix of messages and imagery across 50 to 70 different ads.
- New Initiatives Require a Shift to “Top Of The Funnel” Messaging: As companies pivot and provide new online offerings, they will need to refocus “top of the funnel” messaging to engage customers and generate cognitive uplift that sustains purchasing habits.
- Shifting the Mix to Achieve Better Results with Smaller Budgets: Marketers will need to refine their mixture of channels, such as display and social, to lower costs and increase awareness concurrently.
“The data we’ve identified highlights incredible opportunities for marketers to refine their strategies and tap into emerging trends as a result of the quickly changing business environment,” said Daryl McNutt, SVP of Marketing, TapClicks. “TapClicks’ mission is to empower businesses through marketing data and intelligence, and the trends we’ve identified in combination with the unified solutions we provide will help advertisers and marketers optimize campaign success and generate positive ROI into 2021.”
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