In a reality marked by COVID-19, with changing consumer needs and spending habits, marketers are kept on their toes to answer the demands of the new normal. More than ever, careful analysis of data, and monitoring the effectiveness of implemented strategies are key to success. While omnichannel marketing is still the preferred strategy for many, the efforts need to be aimed at driving consumers to the currently available distribution channels, which, in times of corona, are often digital only.
Marketing services are a 475 billion U.S. dollars strong industry, showing positive growth all through the 2010s. The United States accounts for well over a half of the amount, followed by Europe with approximately a third. Both regions have also developed favorably in the last decade. A segment growing especially well in recent year is, unsurprisingly, digital marketing, estimated at over 300 billion U.S. dollars on a global level.
Twitter marketingAmong the traditional marketing services segments, direct marketing attracts by far the highest spending, accounting for nearly two thirds of the total. It is followed by sponsorship, data investment management, public relations, and healthcare. Sponsorship makes up under 15 percent of the total and is the second largest segment. Data investment management (also known as consumer insight or market research) ranks third, with around 10 percent. PR and healthcare make up the remaining share.
Sports sponsorshipCost-conscious brands exercise proactive marketing, basing their decision on careful analysis of consumer and market data. This trend gave way to big data marketing and the development of new marketing technologies. Marketing automation in particular becomes more and more of a norm. Especially on digital platforms, users are served with increasingly personalized ads. However, the more intrusive the ads get, the more likely the users are to install an ad blocker, causing losses to advertisers.
Marketing technologyAmong the media holding groups, UK-based WPP is the largest, followed closely by Omnicom Group, headquartered in New York City. WPP is the owner of two top-10 digital agency networks – Wunderman Thompson and Ogilvy. Omnicom, on the other hand, owns the two most creative agency networks – BBDO and DDB. The French Publicis Groupe, Japanese Dentsu Group and Interpublic Group from the United States complete the top five of the leading holding groups worldwide.
Leading PR agencies worldwideMarketing industry encompasses traditional marketing channels, such as events and direct mail, as well as digital channels, e.g. social media, mobile, and video. Also included is information on budgets and strategies, along with effectiveness ratings of business-to-business and business-to-consumer marketing methods. To complete the picture, Statista provides data on various types of marketing agencies, including business figures of individual firms as well as revenue and creativity rankings.
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