It’s a great time to be a search marketer. PwC has just released its Australian Entertainment & Media Outlook report, which predicts that internet advertising will account for 51% of paid marketing spend in Australia by 2019.
The digital channel will grow 13% during this time – faster than any other advertising channel – to hit $8.2bn of paid marketing spend. This includes display, search, video and classified ads.
In other channels, the free-to-air TV market is forecast to flat line, yet pay-TV is predicted to grow from $572m in 2015 to $746m by 2019. It comes as no surprise that the print sector is the worst off, with newspaper and magazine ad revenue set to decline year-on-year.
But back to digital. These forecasts reflect the growing trend for astute brands to capture customers’ attention at critical points in the path to purchase, while leveraging powerful analytical and personalisation tools to ensure the right ads are served to the right people.
Key takeaways from the report:
Here are some of the most interesting takeaways relating to search:
- Search will remain the dominant form of internet advertising, rising from $2.4bn today to $3.9bn by 2019
- The fastest growing area of internet advertising will be video, which PwC anticipates will triple in five years from A$176m to A$608m
- Display advertising is projected to grow from $1.4bn to $2.2bn and classifieds will grow from $929m to $1.363bn
What does this mean for your brand?
With the digital channel expected to overtake all other channels put together, it’s a clear sign that you need to get a rock-solid digital marketing strategy in place now – ahead of your competitors.
In doing so, you can capitalise on consumers’ preference for digital and mobile formats, in which they snatch ‘micro moments’ to research products and make purchasing decisions on the go. It’s all about becoming more visible within the digital arena.
Indeed, many FirstClick clients – such as Medibank, Toyota and Masters – have already gained advantage through innovative use of search. Another client, Amaysim, has increased ROI by a whopping 227% with its dedicated search marketing strategy.
Our advice to these brands, and to you, is to continually innovate, test and learn – and, importantly, to understand consumer behaviour within the channel and beyond to the wider path to purchase.
These brands all recognise that search is an incredibly cost effective channel that can be tracked to measure ROI. They know that the future of marketing is in the search space … as do we. As a team of search marketing experts, it’s something we’re really excited about!