Is The Digital Marketing Field Saturated

Is The Digital Marketing Field Saturated? Here’s What You Need To Know

Digital marketing has been a part of top-paying skills to learn lists for a long time now, and newbies have turned skeptical if the gold rush has ended. While we cannot deny that a lot of digital marketing agencies, Gurus, and thought leaders have surfaced in the past few years, its popularity has grown in the same timeframe as social media to a large extent. Just like every other person around the corner with a couple of hundred followers is showcasing themselves as ‘influencers,’ digital marketing, too, faces a similar situation. In this article, we will try exploring the myth revolving around digital marketing’s saturation as a choice for career/business and finally burst it with solid observations. I have already dropped a hint here, so let’s get started quickly.

The Growth Rate Projections 

The market size for the US’s digital marketing in 2020 was estimated at $49.4 billion, which will eventually triple at $151.8 billion in 2027. This growth is also being This figure translates to  $330–340 billion at a global level in 2020. In 2021 alone, the ad spending is expected to hit $398,762 million in 2021. These figures are also reflected in the salary packages offered as well as the prices charged by freelancers and agencies. After looking at these figures, we can say that the new entrants can be 100% optimistic.

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Technological Advances In Digital Marketing 

If we talk about digital marketing in today’s date, it is evolving faster than ever before. For instance, third-party cookies are phasing out, and this is surely going to keep digital marketers on their toes. Also, the updated privacy settings on the iPhone are making even the giants like Facebook re-approach the new conditions. But that’s not even the tip of the iceberg. New platforms, algorithms, user behavior changes are driven by factors like digital Darwinism, and monetization is among the most volatile factors. Back in 2006, Hubspot was the most sophisticated tool available in the market, but today, you might have to hire dedicated developers, even individual tools like Marketo.

The inclusion of advanced technologies like AI and Big Data will make digital marketing far more complex in the days to come. The same applies to voice-based search, AR/VR, chatbot marketing, and IoT. We’re almost sitting on the brink of radical changes as these technologies that will converge together and make digital marketing as diversified as web development technologies.

New job profiles will also emerge out of these developments, and the value of ‘T-shaped’ marketers is going to increase exponentially. If you think we’ve hit saturation, don’t worry, as we probably won’t hit it anytime soon. “We might see an interpolation between giving preference to generalists and specialists. The organization’s vision, business case, and their position in the market will make a huge impact on how they approach digital marketers.” finds Neel Vithalani, Orderhive

Why Is Everyone Feeling That The Landscape Is Saturated

We can say that the whole idea behind saturation comes from too many people referring to themselves as digital marketers. Just like making a Tik Tok doesn’t make one an actor or even an influencer if they aren’t impacting purchase decisions consistently in a predictable and manageable way, writing ‘digital marketer’ in the LinkedIn bio doesn’t make them one either. 

In my opinion, the market is crowded with novice folks who know about digital marketing as much as a new enthusiast. These wannabe marketers are most likely to tell people that Google uses 200 factors for its ranking algorithm and probably won’t know how to run a pulse or NPS survey. However, it does make the situation a lot more tough for businesses as they need to go through extensive screening before hiring talent. 

The Digital Marketing Field Isn’t Saturated But Crowded. How To Stand Out

Now that we have gone through the market projections and the situations that have led to many of us believing in this myth, we will glance at a few ways you can stand out among this crowd. The first thing that you can do is to take a certification course or enroll in an internship if you are a total beginner or start moonlighting before you go for building a full-fledged digital marketing agency. In both cases, I find it incredibly important to have in-depth knowledge before you start selling your services. The reason is simple- you might end up competing with the entrants with virtually zero knowledge of the industry. They would be ready to work for peanuts, bring down your compensation range at unsustainable levels and beat you with their pricing!

Next, you should invest your time in networking with professionals in your field as well as your prospective clients. But, prior to this, you will need a portfolio. Here’s the thing: Instead of working for free or low-paying projects, you should go for NGOs and projects directed towards common welfare as it puts you in a much better position during negotiations. 

Lastly, leverage automation if you want to be around in the digital marketing industry for a long period. No matter if you are getting started or launching your company, it is necessary to automate your outreach efforts. This is because it becomes difficult to engage with your network and audience once the money starts rolling in, but your efforts are the reason why you started gaining traction in the first place. This is also the perfect time to hire a known digital marketing agency to take care of the networks, while you can concentrate more on the business ‘s bank end.

Summing Up

Throughout the article, we have explored many facets of this popular myth, and we can agree that the digital marketing industry is yet to reach its full potential. You can definitely taste great success provided that you stay in business for a considerable period and invest your efforts in the right direction. I hope this article clears the fog for your journey into the digital marketing field.