Digital market will evolve

Digital marketing revenue growth has outpaced other forms of media platform in the last decade. Consensus estimates that growth will remain in the low double digit range for the medium term. In fact, digital marketing has already accounted for more than half the advertising spend. A big reason for this growth is due to the accessibility of the internet.

Mobile phone adoption ushered in the golden age of advertising. Advertisement can be customized to viewing habits, spending frequency etc. Data analytics allowed companies to gain better insights, and allow management teams to optimize shopping experiences, supply chain management and product design.

With the advancement of advertising, the future remains largely untapped. While it is unclear as to what form of customer engagement will change, we can be sure that digital advertising will continue to evolve. Will customer behavior eventually become so predictable that AI can automate advertising for optimal yield? If customers increasingly use voice, how will firms monetize that form factor. As form factors continue to evolve, so will digital marketing.