Smart Speaker Growth Dominated by Amazon and Google
A recent survey found that as of January of this year 26% of U.S. adults either currently own or recently have owned a smart speaker device. The Amazon Echo and Google Home own 85% of this market. While Amazon has the lion's share of the market at 61.1%, over the past year Google's market share has increased while Amazon's has decreased. The survey also found that owning a smart speaker also makes people more likely to use the voice assistant on their mobile phones.
Technology Investment Taking a Growing Share of Online Marketing Budgets
A survey of U.S. and U.K. businesses found that Marketing Technology represents an average of 29% of marketing budgets, up from 22% a year earlier. Marketing and customer analytics are the main driver of this spending growth. With a greater share of marketing budgets being allocated to marketing technology, this is displacing spending on labor, paid media and agencies.
Social Networks and Smartphones Play Growing Role in Retail Lead Generation
Though social networks still play a relatively minor role in lead generation for retail sites, their share of last-touch referrals has more than doubled over the last two years. A majority of the traffic (70.5%) from social networks to retail sites came via smartphones. Facebook is far and away the leader among social networks for e-commerce referrals, accounting for 80.4% of such referrals from social networks.
Mobile Drives Online Marketing Ad Growth While Desktop Has Leveled
Total U.S. digital ad revenue grew past the $100 billion mark for the first time last year, according to a new report from the Interactive Advertising Bureau. This represented a 22% increase from 2017, though this is highly dependent on which segment of the market is being considered. While mobile ad growth grew by nearly 40% year-over-year, desktop ad growth actually declined slightly.
Slowing Growth Could Lead to Tougher Internet Marketing Negotiations
While online ad spending continues to grow, slower growth rates across several major channels and declining shares of revenues dedicated to ad budgets could signal a more challenging environment to come, according to a report by GroupM. This is expected to make ad buyers more demanding about the financial terms and other conditions of their ad buys.