4 Industries that are Embracing Internet Marketing
It is no surprise to most people that technology is growing on insane levels. Ever since the Internet became a household necessity and not just a luxury, people have been utilizing it for all sorts of things. People of all classes, race, and financial circumstance all have equal access to information more than ever before. They can see and hear about parts of the world that most people could only dream about. And, they have access to all kinds of educational content that can boost business opportunities locally and worldwide. The freedom that the information age has given individuals and local businesses cannot be an understatement.
So, it makes me and a few other people wonder, which industries or businesses are taking advantage of things like internet marketing the most? What businesses are taking advantage of the internet marketing explosion? Which ones are sticking with more traditional routes? Is there a chance that these industries might change tactics? So, I am going to compile a list of the five top industries that are embracing internet marketing.
The first classification of groups that spend the most on digital advertising is the retail industry. This is little to no surprise to anyone who is familiar with the concept of retail marketing. After all, retail businesses have often been the industry pioneering different forms of advertising and sales methods. Also, it makes sense that retailers will turn to digital marketing the most, thanks to the shopping patterns of the average consumer. According to marketing researchers, “Nearly 60% of shoppers look up product information and prices while using their mobile phones in stores. ” The range of mobile phone use in brick and mortar stores starts from research, digital coupons, and price comparison. So, it should make sense that retailers would need to invest in digital marketing if they want to be up to date in commerce practices.
This industry is surprisingly the second one that spends on digital advertising and internet marketing. The type of internet marketing spending that the auto industry is focusing on is more specific than retail. The auto industry’s main spending focus includes custom websites and the use of Facebook Ads. The latest data involving automotive industries and Facebook ads seem to point to good results for dealerships.
According to a comScore study, the results of Facebook Ads for dealerships include:
- 37% increase in dealership visits
- 17% increase to dealership and automotive brand sites
- 11% increase in brand search activity
- 14% decrease in competitive model searches
- 3% decrease in competitive brand searches “
This is the third highest industry spending on internet marketing and digital ads. This is due in part for the demand for easier banking platforms. There is a greater emphasis on online banking than there has ever been in the last 5 years. While they do not measure specific ROI as most other industries do, they almost don’t need to. This is because a whopping 94% of uses in all age groups use online banking. And the financial institutions who even use social media platforms like Facebook or Linkedin in the first place already have access to customer comments and opinions. What’s more, there is no homogenous content strategy in the financial industry. 75% of financial services marketers use different content strategies in place for each channel they have. They know how to cater to a very large audience.
This one is not particularly surprising. After all, internet usage tends to fall under telecommunications. These days, internet providers in America are often done through cable companies and telephone distributors. This is because, according to one report, “Viewership of digital video—whether in long-form on over-the-top (OTT) platforms, or short-form on social platforms—continues to gain in popularity over live TV, especially among millennials and Gen Z. Advertisers hoping to reach these consumers are directing more ad dollars toward video formats.”
However, up until this point, there have been tensions between traditional media outlets and new media. Especially when it comes to marketing. This has lead to hybridization of advertising. Traditional platforms, like television stations, are advertising online through web platforms, like Youtube. Another example goes to radio stations and podcast groups. Usually, there is a common theme of relevance in regards to the two media platforms. In some instances, it is well received more than others. However, there is still a rise in spending from this industry.
The landscape of internet marketing and digital ad spending is changing based on the demand of customers and businesses alike. There is no guarantee that the platforms will pan out for everyone. But, if a business or a person can take the time to find the right audience, things can work in a marketer’s favor.