DMMA517 - SocialSync Professional Social Media Production Suite - Fall 2019
MARKET ANALYSIS The market needs are primarily those of marketing firms and agencies looking to reduce the time and cost of reproducing similar content allowing them to devote more time to engaging a larger percentage of the targeted audience. The ability to consolidate the formatting process to a single platform, publishing to multiple social media apps accomplishes this task efficiently. Social advertising spending continued its upwards trajectory with a 32% year-over-year increase from Q3 2018 to Q3 2019. With CPMs staying relatively flat, social advertisers are still finding value with their investment in the channel and there still seems to be plenty of room to grow efficiently. Paid search has grown steadily over the last five quarters, with a solid 7% year-over-year spend increase in Q3. 54% of spending was on mobile devices which firmly plants SEM—digital marketing’s largest channel— as a mobile-first experience. With E-commerce on the rise the market growth could be exponential, brick and mortar stores have been on the decline and Ecommerce Channel Advertising was up “big in Q3 with a 54% year-over-year increase in marketer spending” (Digital Marketing Trends). This channel is still relatively new and traces a path of strong growth that is comparable during the first few years of growth in paid search and social advertising.
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