The University of North Carolina at Chapel Hill Brand Challenge
the
project
What category or industry does The Looma Project serve?
Category Trends
Marketing/Advertising Trends
Out-of-Home Trends
Digital Trends
Point-of-Purchase Trends & In-Store Trends
Business-to-Business Trends
As the world has become increasingly digital, total spending on marketing and advertising has rapidly expanded. Organizations have taken advantage of their ability to more easily access consumers in every facet of their lives through digital channels including in their homes, on the streets, in stores, and even connecting businesses with one another to create mutually beneficial marketing solutions.
Digital advertising has increased dramatically in the past five years and continues to do so. For example, digital advertising spend in the U.S in 2014 was $49 billion, while estimates for 2016 and 2019 are $67 and $93 billion, respectively. In addition to this, digital marketing expansion into the retail industry has seen an even more dramatic rise. In 2010, U.S. digital advertising spending within the retail industry was $5.52 billion, but rose to over $13 billion by 2015 and is estimated to be over $23 billion by 2020.
Like the rest of the marketing industry, out-of-home advertising is on the rise, particularly within the digital landscape. The following graphic reveals that 2014 saw nearly a 10% increase in digital out-of-home advertising, and projections for the following 5 years have this 10% growth trend continuing steadily.
While traditional point-of-purchase tactics have not proven to be widely effective, studies have found that digital display screens at the point-of-purchase increase brand awareness significantly. Unlike traditional advertising, visually appealing display screens are valued by consumers and are actually a welcome addition to the in-store experience.
B2B marketing has typically trailed B2C, but recently has been following the trend towards digital. Increasing usage of websites, social media, and mobile have been notable trends. Today, over half of B2B businesses have mobile sites or apps. Lastly, content marketing, a key device for B2B marketers, has also been on the rise and is now used by over 90 percent of these businesses.
