One of the biggest trends right now is online marketing and advertising. If you’re not familiar, this is the practice of marketing products and services through various social media platforms and websites.

In the past, companies had to rely on traditional forms of marketing, such as radio ads or billboards, to reach the masses. Thanks to the innovative technologies that exist today, this is no longer the case. With platforms like Facebook, Twitter, and Instagram, companies can easily target the right audience and engage them into action.

While there’s still a place for traditional marketing, it’s no longer the only game in town. Thanks to companies like HubSpot, who specialize in online marketing and advertising, and Pardot, an email marketing platform, being able to experiment with different marketing strategies and tactics and see immediate results is now the norm.

Why Online Marketing?

The rise of digital marketing is largely due to the increased access to the Internet. Thanks to platforms like Google and Bing, which provide free basic Internet access to users, more people are becoming familiar with online marketing and how to use various platforms.

This, in turn, is creating a massive market for companies who offer Internet-based marketing and advertising solutions. The advantage of using online marketing as a form of advertising is that companies can target the right audience and engage them into action, such as making a purchase or signing up for a newsletter. This is in contrast to traditional forms of marketing, which are often called “broadcast” forms of advertising because they reach a large audience who might not be interested in your product or service.

The Rising Popularity Of Online Marketing & Advertising

According to HubSpot, between 10% and 20% of their users are involved in online marketing and advertising. This is compared to just 2% who are involved in social media marketing.

The increasing popularity of online marketing and advertising can be attributed to a combination of factors, including:

• The rise of digital marketing;
• The decreased cost of doing business online; and
• The widespread use of smartphones, tablets, and other devices, which provide access to the Internet.

The Growth Of Online Marketing & Advertising

The use of online marketing and advertising platforms is expanding, with the number of web pages designed to attract potential customers soaring from 300 million in 2010 to 1 billion in 2016.

In addition, the amount of time that people spend on their smartphones and other devices accessing the Internet is also increasing, with the average user now spending 5 hours and 44 minutes per day on their device. This provides companies with a huge opportunity to reach out to customers and potential customers who are already engaged with the platform.

One of the biggest reasons why companies are turning to online marketing and advertising is due to the increased consumer awareness and participation in social media platforms and websites. Thanks to companies like HubSpot, who monitor Twitter and other platforms to gain insight into what consumers are saying about their products and services, as well as respond to consumer questions and comments. This helps to build trust and credibility with customers who can then be targeted with relevant and valuable information.

The Growth Of Digital Marketing

According to eMarketer, between now and 2023, digital marketing expenditures are expected to rise from $14.83 billion to $27.83 billion in the U.S. alone. That’s a lot of money, and especially considering that much of this spend is going to online marketing and advertising platforms to target users and engage them into action, such as making a purchase or signing up for a service or newsletter.

The industry statistics above highlight just how much the digital marketing industry has changed and how much it continues to evolve. In 2022 alone, digital marketing is expected to grow by 24%, primarily due to changes in behavior, increased consumer participation in social media, and the continued popularity and adoption of online marketing and advertising platforms.

The Evolution Of Marketplaces

On the back of the abovementioned growth, marketplaces have evolved to provide companies with a physical location to market their products and services online. A marketplace is a platform where companies can list their products and services for sale; users can then search for the products they want and make offers if they want to purchase the product.

Thanks to the wide adoption of mobile phones and the Internet, more consumers are now familiar with online marketplaces and how they work. This, in turn, is creating a huge market for companies who want to tap into this audience and engage them into action.