Digital marketing growth is accelerating, according to the latest survey.
Key points:Digital marketing is growing at a much faster rate than the traditional retail sectorDigital marketing growth has accelerated over the past year and a half, according the survey conducted by global consulting firm DigitalMarkets AustraliaThis is a key finding for businesses looking to target digital marketersThe survey found that digital marketing growth in Australia has surpassed the traditional consumer retail sectorThe survey also found that the number of businesses actively using digital marketing has risen to over 5.5 million businesses.
Digital marketing has exploded over the last year and half, from less than 200,000 businesses to more than 1.2 million, the survey found.
DigitalMarkets Australasia chief executive, Michael Stoll, said the survey results showed that digital marketers had become a very significant part of Australian business and business growth.
“Digital marketing and digital business have become increasingly integrated, which is a reflection of our evolving economy,” he said.
“Our survey shows that digital has become an important part of the Australian economy and it’s growing rapidly.”
Australia’s digital marketing economy is worth $1.1 trillion, and is expected to grow $4.5 billion by 2021.
“In a changing industry, businesses are looking for new and innovative ways to deliver their business, which digital is providing.”
DigitalMarketing Australia is a global consulting company that has helped hundreds of organisations build digital strategies and deliver digital outcomes.
Its survey data is based on over 2,000 business owners in Australia and is being used by businesses and government to inform decision making.
The survey results were released on Thursday, with DigitalMarketers Australasia saying digital marketing was a key driver of the economy in Australia.
The company surveyed over 5,000 Australian businesses, and found that over the same period, the number had grown by 7 per cent.
Digital Markets Australas survey also showed that the amount of business digital marketing accounts for grew by 5 per cent, to over 2 million businesses, from just over 400,000 in 2013.
“The growth in digital has been so rapid in just the past 12 months that we believe this is the first time it’s occurred in Australia in 20 years,” Mr Stoll said.
Digital marketsAustralia is one of the fastest growing markets for digital marketing.
In the past three years, the country has seen a 16 per cent increase in digital advertising revenue and a 27 per cent rise in digital marketing spending.
Digital advertising and marketing spending has also increased by 7.3 per cent in the past financial year, and the digital industry is projected to grow at a CAGR of 9.3 to 15.2 per cent by 2021, according DigitalMarketts Australasia.
“There’s an opportunity for businesses to target and reach the very large digital market and for the consumer, which has become a big part of our business, to have more access to the services and products they want,” Mr Della Costa said.
The results also show that the Australian consumer is increasingly embracing digital marketing as a way of growing their businesses.
Mr Stoll expects digital marketers to become more visible in the mainstream media, and to be more prominent in public spaces.
He said digital marketing would play an important role in the future growth of the industry.
“I think it’s important that we keep this momentum going and keep the Australian market going, not just as an individual company but as an industry,” he told ABC News Breakfast.
“As we grow and grow, as we build the economy and the consumer is engaged in this new, emerging sector of commerce, it’s going to become increasingly important for all of us to have a place to turn for information.”
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