Those working in the field of digital marketing should have had their work cut out to keep up with demand over the first half of the year.
Over the four year period measured between 2008 and 2012, mobile experienced a Compound Annual Growth Rate (CAGR) of 129% meaning that much focus in the years following would focus on investing in mobile online marketing. But rather than plateau, the mobile sector is forecast to grow further over the subsequent four year wedge (2013-2017) – with non-gaming mobile app revenue forecast to rise by over 60%, meaning that for those that have not yet caught up, now is the time to get with the program. In order to make the most of mobile, it is vital for companies that they have fully responsive and pleasant to use mobile sites. Sites can be tested with the Google mobile site test, which is a useful tool. In addition, the provision of a functional mobile checkout (for online stores) is vital as is appearance high in the rankings of mobile search lists. Even for the major players however there is room for improvement. Even sites like EBay could do with improving their mobile sites to allow sellers to send payment details (still not possible on the mobile site or apps).
The Millenial Generation
Think about those among us lucky enough (or unlucky enough depending on your perspective) to have been born after 2000 and what do you picture? Hordes of heads down zombies glued to their mobile phones and tablets, right? More than anyone when they think of something they need to buy they reach for their handheld device and consult the web for opinions and reviews before comparing prices on the web and finally making a purchase, yes you guessed it, on the web. They comprise of a larger wedge of the population and yet spend less at bricks and mortar shops and pay fewer visits to them. Although it is almost impossible to come up with a very accurate figure, some analysts have hazarded that around 80% of a millenial’s shopping is carried out online. Of course, in addition to online spending, millenials are highly susceptible to a penchant for social networking, which in turn adds to their susceptibility to online marketing campaigns, heightening their value.
Online retail continues to grow unabated
While the UK is ahead of much of Europe in this regard, it is still staggering that online retail sales continue to grow at an extraordinary rate. The figure is predicted to reach £52.25bn in the UK this year, a 16.2% increase on 2014 when the total was £44.97bn. The total in 2013 was £38.84bn and by 2016 the projected total is just over £60bn. In the US growth is still there and strong, albeit slightly less dramatic than before.
It is, however, not hard to see why so much emphasis is placed on the vital nature of online marketing. 2016 is set to continue to see growth and the emphasis for all companies should be firmly fixed on agile SEO, updated websites, mobile optimisation and niche apps as well as a refined and dedicated social network strategy.