Digital marketing is a booming industry, and many are predicting a major transformation in the future.
The Digital Marketing Association (DMA) reports that the number of companies launching and operating digital marketing strategies has jumped to 3.3 billion and is expected to grow to 6.7 billion by 2020.
According to DMA’s chief executive, Daniel DeLong, digital marketing is set to make up 60% of the industry by 2020, up from 20% in 2020.
“The big thing we’re seeing is people really start using digital marketing as a means of getting information, as opposed to just a marketing tool,” he said.
“This is really a trend that we’re going to see grow.”
In addition to increasing competition, the shift toward digital marketing has also increased competition among other digital marketing platforms.
According the DMA, a growing number of platforms have launched, and more are on the horizon.
Some of the biggest names in digital marketing include Airbnb, Airbnb Labs, Airbnb Payments, Airbnb Platform, Instacart, Stripe, Uber, and Zappos.
Digital marketing’s future could be uncertain.
While the industry continues to grow and diversify, some companies have begun to worry that their digital marketing business is in a slump.
Airbnb, for example, has seen revenue decline for five consecutive quarters.
Airbnb is facing a major challenge: its brand is not just the one that is on its website.
It’s also the one people use when they shop at its sites.
And the digital marketing ecosystem is increasingly being driven by big, established players, which may not be the most sustainable of businesses.
“Digital marketing is going to be a game-changer for the digital marketplace,” DeLong said.
While he said he believes that digital marketing will become the new face of the marketplace in the near future, the industry is already seeing competition from newer companies.
“There are a lot of competitors that are already doing things,” he added.
“They have their own ideas and they have their strategies.
We see it coming from companies that are building digital marketing products.”
DeLong believes that, despite the fact that he sees a shift toward greater competition in the digital market, there is still room for growth.
“I think digital marketing continues to be about connecting with consumers, engaging with consumers.
It also has a lot to do with engaging with companies, so it’s going to become a bigger and bigger part of our digital lives,” he told Fortune.
As he sees it, the digital advertising space is in the process of shifting toward a more curated experience.
“We’re going towards the notion that a lot more content will be shown as a curated experience,” he continued.
“If you’re looking at content that has to be curated to fit a specific audience, then we have to find ways to make that content more relevant to that audience.”
For DeLong and other digital marketers, the future looks bright.
“My hope is that digital advertising becomes the new norm, and that people get used to the idea of an ad in the browser,” he concluded.
“You have to be creative in how you are showing ads to the user.”
And he said that he is excited to see the future of digital advertising.
“It’s the perfect opportunity to expand the business, and create a great customer experience for our customers,” he stated.
“As you see more digital advertising, it becomes a way for advertisers to create more value for their customers.
It becomes a better way to reach their customers.”
Follow Robert on Twitter: @RobertEwins1