Top 5 Digital Advertising Trends to Watch
October 6, 2013
Digital marketers need to keep tuned into digital advertising trends to stay ahead of the game. However, with a tremendous amount of data being collected and reported upon, it’s not always easy to keep track of the key trends. We reviewed the most important studies released recently to create this list of the top five digital advertising trends all savvy marketers should stay focused on:
- Word-of-mouth recommendations from friends and family, often referred to as earned advertising, are still the most influential. 84% of global respondents across 58 countries to the Nielsen Trust In Advertising survey said this source was the most trustworthy.
- Paid digital media continues to grow steadily, especially in the retail sector. A report from eMarketer says that the US retail industry will spend $9.42 billion this year on paid digital media. By 2017, that number is expected to grow to $13.5 billion, representing a 10.5 percent compound annual growth rate.
- Desktop Internet advertising continues to grow more rapidly than any of the traditional media. According to a recent report by ZenithOptimedia, digital ads will be 22% of all US ad spend in 2013. Total Internet advertising—both desktop and mobile—is expected to account for 20.4% of all ad expenditure in 2013, up from 18.3% in 2012, and it is forecast to rise to 24.6% in 2015.
- Mobile ad spend is rising globally. Total global advertising expenditures in the second quarter of 2013 increased 3.5 percent from a year ago and finished the period at $35.8 billion, according to data released by Kantar Media. Mobile advertising in the United States totaled $3.4 billion during the full year 2012, a 111% increase from the prior year total of $1.6 billion, according to IAB Internet Advertising Revenue Report for the year 2012.
- By 2016, revenue from display advertising (comprising banner ads, video, rich media and sponsorships) will outpace that from search advertising. While display is still the second-largest type of digital advertising, behind search, eMarketer projects that by 2016 display will outpace search.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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