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Internet marketing budget growth slows down, focus has shifted: report

(People's Daily Online)    20:54, September 16, 2020

Advertisers' digital marketing budgets have declined in growth for the past three years, with an average increase of 14 percent in 2020, according to a report released on Sept. 16, while advertisers have also shifted their digital marketing focus.

In 2020, social marketing and self-owned traffic pools are the most popular forms of digital marketing by advertisers, while video advertising and social e-commerce rank second, according to a blue paper titled the "2020 China Internet Marketing Development Report".

The report points out three things - that technology is still the main driving force for expanding the Internet marketing space, eliminating the "production-consumption" information asymmetry is the basic "position" of Internet marketing in the social system, and Internet marketing security is an important guarantee for the sustainable development of Internet marketing.

The report predicts that the concept of short video "platforms" in the future Internet marketing industry will become a blurry one, and the value of short video traffic will be redefined. 2020 will be the first year of brand self-built content and talent matrix, private domain traffic alliances and other characteristics.

Experts believe that in 2020, the coronavirus pandemic will be an issue that cannot be avoided in the development of all industries, and that the problem must be approached dialectically. On the one hand, the coronavirus pandemic is sweeping the entire world like a tornado, causing a huge negative impact on all industries. On the other hand, the coronavirus pandemic also provides an opportunity for companies to re-examine and improve themselves.

Experts agreed that looking at the overall development trend of Internet marketing in 2020, technological innovation continues to expand the marketing space, and the Internet of Things (IoT) continues to update marketers’ cognitive patterns. The wide application of 5G in the commercial field, both in terms of depth and breadth, will bring more possibilities for internet marketing. Although the growth rate of Internet marketing budgets will slow down for the first time in 2020, advertisers' demand for internet marketing will gradually increase in the future as the pandemic situation improves, and China's Internet marketing market will continue to grow annually in 2020.

The report was released in Beijing Normal University. The press conference was hosted by Zhongguancun Interactive Marketing Laboratory and organised by the College of Journalism and Communication, Beijing Normal University. Experts and scholars from China's Internet industry and academia gathered online and offline to review and summarize the development of China's Internet advertising in 2020, and to predict the future trends of China's Internet marketing. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Bianji, Hongyu)

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