By Grant Eckert, Medical Guardian Director of Marketing
In the world of digital marketing, the marketplace has the ability to change overnight. Shifts in bid prices, the emergence of new competitors, or a change in an algorithm can provide an advantage to some while drastically impairing others. Managing campaign performance in the moment is more critical than ever, but macro awareness is just as important. Anticipating broader shifts in the market and applying strategies online can lead to the most significant gains. The following three trends should be considered by every marketer in the digital space in order to garner that “edge” and stay ahead of the curve.
Media Fragmentation Continues to Increase At the turn of the century, the smart phone didn’t yet exist as a media platform. Fast-forward a mere thirteen years and there are now more than 139 million smartphone users, according to Edison Research, more than 53% of Americans. The adoption of smartphones has allowed consumers to ditch their laptops and desktops but still be able to access information 24 hours a day. With mobile usage growing 14 times faster than desktop, companies will need to prioritize mobile strategy in order to meet consumer expectations and drive conversion. Whether it’s a site built specifically for mobile or the use of responsive web design, creating an experience for the mobile visitor will be critical to online success.
A Shift in the Mix Since 2011, about 10,000 people have been turning 65 across America each day, according to Pew Research, a trend which is expected to continue for the next 17 years. By 2030, 18% of the nation’s population will be older than 65, up from just 13% today. Additionally, this growing segment of the population controls the majority of wealth in the US, and, according to a recent government consumer survey, outspends all other generations. Not only is this group growing in size and buying power, but they are also utilizing the internet to access information, make purchases, socialize, and manage their lifestyle. WSL reported that Baby Boomers average 27 hours per week online, which is 2 hours more than Millennials. Additionally, AARP reported that Boomers’ four favorite sites to visit while online are Facebook, Google, Yahoo!, and YouTube, indicating that paid search, Facebook display ads, and video may be worth adding into your marketing mix. With over 80 million Boomers accessing the Internet daily, it is important not to ignore this growing segment online. Shifting marketing budgets from traditional offline sources to emerging online channels may provide an early advantage.
Social is Growing Up Social networking continues to evolve and marketers ahead of the curve are seizing the opportunity. What was once thought of as the shiny penny is now beginning to yield results thanks to advancements in bidding, targeting, retargeting, measurement, and creative strategy.EMarketer reports that just 6.6% of marketer budgets were allocated to social marketing in 2013. However, it’s predicted that it will grow to 9.1% in 2014 and 16% by 2018. With marketers increasing their investment in social, it’s important to begin establishing a presence now, while inventory is still considered “cheap”, allowing for efficient and low-cost CPM and CPC. A robust test-and-learn strategy will help identify what segments and strategies will drive the best response. The role of the marketer is getting more challenging by the day. What works well today can fail for you tomorrow. The ability to anticipate micro and macro changes is the key to survival in today’s marketplace. The increasing adoption of smart phones, growth of the 65+ segment, and advancements in social marketing are redesigning the landscape and presenting challenges for those who don’t or can’t adapt.
ABOUT THE AUTHOR: Medical Guardian is a leading provider of innovative medical alert systems that empower people to live a life without limits
