2018 U.S. Marketing Spending Forecast

2018 U.S. Marketing Spending Forecast

According to AdAge and Zenith, the estimated U.S. spending in media nd marketing services is $446 billion. In the US, internet ad spending surpassed TV for the first time ever. Market share will increase 13% year-over-year with $1,354 spent per person on marketing and advertising this year.

As more big dumb companies rush into online advertising and pull out of traditional media, a window of opportunity opens for small firms in most local markets. Newspaper, radio, magazine and TV advertising has contracted year-over-year.

Previously unavailable time slots and stations or magazine placements are now available. Many have reduced costs to attract new advertisers. Again, this presents tremendous opportunity for your small business.

Don’t be distracted by the online gold rush with brand advertisers dumping billions of dollars into media that is awfully hard to hold accountable. Microsoft, Facebook and Google spent 67% of their advertising and marketing last year on traditional broadcast television.

If anyone could achieve their goals with 100% online ad spend, I’m fairly certain these tech companies would do it in an instant. They can’t achieve their goals without traditional media, however, and that is worthy of your attention.

In the California goldrush, there were more millionaires made selling shovels to the gold miners than there were millionaries who discovered gold. Pay attention to what these digital companies do and what they say.

Google spent $100 million on direct mail last year. If they could get every advertiser they need to pay attention from Google Adwords alone, don’t you think they would drop the expense of direct mail in an instant?

Luckily for these companies and for smart local firms who pay attention, there’s someone in charge who reminds everyone else in the room that they still can’t achieve their goals yet with online media alone.

The minute Disney stops running TV and radio commercials, magazine advertisements and direct mail, you can rest assured, I won’t be far behind. Until then, it’s our responsibility to pay attention to traditional media trends and there’s never been a better time to start testing many of these channels as big dumb companies exit and pour more of their budgets into online ads.

Worked at Burleson Orthodontics. Attended University of Missouri–Kansas City. Lives in Kansas City, Missouri.

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