Dec 4, 2018
Today we are bringing you ‘20/20 Vision: A Marketing Leader's View of Digital's Future’, the Digital Marketing Institute’s original new research paper, which provides insights from a survey of more than 200 executives and senior marketing professionals worldwide.
Also informed by our Global Industry Advisory Council (GIAC), comprised of a distinguished group of digital marketing and education leaders, this research focuses on the digital marketing sector globally, looking towards the year 2020. It explores and examines the top digital channels, emerging technologies, key challenges and skill shortages, among other important areas.
This research reveals marketing leaders’ views of the industry’s future, and provides insights into where CMOs and other senior marketers are focusing their attention and budgets going forward.
The report shows that there is a critical need for employee training, with many respondents believing their workforces lack the key technology and business skills required to succeed, with emerging technologies becoming more and more mainstream.
Marketing leaders revealed that, as digital technologies continue to evolve, the knowledge and capabilities of employees is lagging behind, leaving many organizations playing catch-up.
Digital transformation is driving companies around the world to take a closer look at their digital marketing strategies and tactics, with emerging technologies creating a demand for both new talent and development opportunities for current employees.
To address this skill shortage, 82% of respondents indicate that their organization needs to invest more in staff training and development, to upskill and reskill their marketing teams and therefore remain competitive.
This training needs to address not only gaps in technical skills, but also business skills including strategy and planning, analytics, research and leadership.
“It is imperative that we invest in and take action on hiring talent that will keep pace with technological change.” Ty Heath, Global Lead, Market Development, LinkedIn Marketing Solutions, and member of the DMI Global Industry Advisory Council
Significantly, the findings also show that mobile ranks at the top of the key digital marketing channels, with 37% of leaders deeming it extremely important. With the ever-increasing prevalence of mobile device usage worldwide, it’s appropriate that senior digital marketers would take this view.
Mobile was followed closely by online marketplace/aggregators (34%) and video (31%) as key channels. Display and email make up the final two spots of the top five channels, at 31% and 30% respectively.
By 2020, mobile and marketing automation are predicted to grow even further in importance, creating a dramatic change in the technical skills required by marketers.
The report shows that leaders believe their greatest challenge is the pace of technological change. Over half (54%) of CMOs and senior marketers report struggling with the shifting of the digital landscape, and voice concerns about how their department and business will keep up.
When marketing leaders look ahead to 2020, more than two thirds of respondents cite app technology and artificial intelligence as the most important emerging technologies, followed closely by social customer service and emotional engagement.
Content also emerged as a significant challenge. With consumers experiencing ‘content shock’ due to the volume of information available online, 49% of leaders said they find it difficult to create engaging content.
Despite these difficulties, it’s clear that the opportunities within the digital marketing space are enormous. By 2020, it’s predicted that digital’s share of total advertising will near 50%, toppling the old dominance of broadcast television. This growth represents a seismic shift in the marketing sector.
Rising budgets are expected to result in a wave of change that will ripple through the behavior of marketers by 2020, with many organizations planning to allocate more resources to emerging technologies over the next couple of years.
This research has produced interesting and actionable findings for marketers around the world. The comprehensive report covers the following key areas:
The document provides all the key research findings and statistics, as well as detailed explanation and analysis. Whether you are an experienced digital marketer in a senior role, at the beginning of your career or undertaking study, it provides rich information and insights on the future of the sector.
Download the PDF document below to read the full report.
CPD-registered members are entitled to claim 1.5 credits for downloading and reading this eBook. These credits will be automatically logged.