The State of Agency & Marketing Solutions Digital marketing generates 50% more interactions with customers than traditional marketing, establishing it as the new universal standard. Plus, personalization, artificial intelligence, and sustainability all drive new market growth in the sector as providers shift from traditional offerings to strategic solutions focused on digital experiences. Despite this resilience, marketing leaders face ongoing challenges. Digital marketing is reshaping buyer media consumption patterns, which comes in part due to the continued transition away from traditional media models but is further exacerbated by AI and increased data regulation. Tech giants are switching out search engines for AI chatbots, thus upending decades long advertising practices and partnerships with providers. Similarly, advertising firms and their clients will continue to see shifts with the increased accessibility of generative AI, or GenAI. This all comes as global data regulations intensify and alter the way firms can collect and maintain market data. Overall, there is continued interest and growing opportunity for investment within the market. Notably, strategic buyers are acquiring companies at a higher rate than financial buyers as tech giants learn that the unique tools provided by smaller enterprises offer better ROI in operations than in financials. This trend should help improve economic conditions and keep the momentum for deals going in 2024.
Source: Digital Third Coast.
8
Made with FlippingBook - Share PDF online