2014-03-18 07:12:01 - 2020 Foresight Report: Digital Marketing in Financial Services - a new market research report on companiesandmarkets.com
As internet access and smartphone adoption increase, a growing number of internet users are accessing digital media channels such as social media, mobile and videos. Banks and insurance companies are developing their processes and employing such channels to be able to respond to web-based consumers, create brand awareness, promote new products and services, identify customer needs and elicit feedback.
Digital media channels are increasingly being used by companies around the world as a strategic marketing tool. They are primarily used to advertise products and services, identify sales opportunities and ensure brand monitoring. Budget allocations to digital media marketing are expected to increase over the forecast period (2013â2017). During the review period (2008â2012), worldwide digital advertising expenditure rose from US$53.7 billion in
2008 to US$95.7 billion in 2012, at a CAGR of 15.52%.
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