Issues outside of your control can hamper even the most effective marketing initiatives. While it’s a frustrating dynamic, it’s one that every marketer is likely to experience at some point.
External forces impact marketing efforts more frequently in cyclical industries. Businesses involved in sectors such as home furnishings, travel, energy, and durable goods like appliances all understand their success is often seasonally dependent. Even the best marketing initiatives will struggle in an off-season.
Nothing like a local research firm’s conference to get a sense of where we are with the local digital revolution. Speaking at LOAC West this week in San Francisco, Borrell Associates co-founder Gordon Borrell says that the lines of revenue between traditional and digital “are crossing right now. It will be obvious next year.”
Following a stronger than expected first half, Magna has revised its 2016 ad forecast. The IPG Media brands ad forecasting firm now anticipates total U.S. advertising revenues will jump 6.3% to $179 billion this year, the strongest growth rate since 2010’s 6.6% jump. That’s up from the 6.2% growth Magna called for in June. But without ad revenue from the election or Olympic games to lean on, ad growth will slow down to 1.6% in 2017, while still reflecting strong underlying advertising demand. If record-high political and Olympics revenue were factored out of the 2016 numbers, ad dollars would be up 4.4%, Magna says, similar to 2015’s 4.3% growth. And without the revenue headwinds of political and the Olympics, 2017’s growth would be up 3.5%.
With positive economic signs at home and abroad, the advertising market is looking up. This year, according to the global forecast, the ad market is expected to grow a healthy 4.4% to $539 billion in total spending, according to a new report by Zenith Media, up slightly from Zenith’s June forecast of 4.1% annual growth.
Global media spending is expected to grow at a steady pace over the next five years, up to $2.1 trillion by 2019 from $1.6 trillion in 2014, according to a new report by consulting firm McKinsey & Company. Spend will increase at a compound annual rate of 5%, the report says, with digital media driving growth and commanding an increased share of ad dollars.
Consumers are on track to spend more than $32 billion on new vehicles in February, nearly $3 billion more than in February 2015 and for the first time exceeding $30 billion in the month of February.
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