The top digital marketing opportunities and challenges include:
Top Digital Marketing Opportunities
Increased consumer online activity
High demand for digital marketers
Social media, content, and influencer marketing
Omnichannel marketing
Campaign/ad personalization
Technological advancements
Automated digital marketing workflows
Organic online campaigns
Top Digital Marketing Challenges
Digital marketing saturation and high competition
Ballooning digital marketing costs
Complex digital marketing software and tools
SEO intricacy
Dynamic algorithms
Digital marketing fraud and scams
Fast-moving digital marketing trends
Limited availability of internet access
Digital marketing is booming nowadays because lots of consumers are spending more time online. This drove increased mobile and laptop usage in the 21st century. It also pushed big and small businesses to venture into digital advertising. According to HubSpot’s Not Another State of Marketing Report 2021, 63% of brands and marketers have increased their digital marketing spending. They used strategies like content marketing, paid advertising, and content generation software.
Aspiring digital marketers and digital marketing agency owners can expect a scalable income. In fact, you can earn around $60,000 to $80,000 annually according to Seth Jared Hymes, creator of the Digital Marketing Career Blueprint. Most well-known brands like Apple, Nike, Microsoft, and McDonald’s use online marketing campaigns to increase brand awareness. Because of this, the digital marketing industry’s ad spending will reach $679.8 billion by the end of 2024, as per Statista’s latest data.
Digital marketing offers diverse ways of earning. Google Ads and Search are great examples of this. Based on Google's Economic Impact, a competitive digital marketer can drive around 800% ROI for every $1 spent on Google Search and Ads. However, achieving this feat requires a dynamic marketing strategy, knowledge of top digital marketing opportunities and challenges, and key skills like SEO and data analysis. Let this complete guide help you learn more about digital marketing and how to overcome its challenges.
Top Digital Marketing Opportunities and Challenges
Top Digital Marketing Opportunities
Increased Consumer Online Activity
The increase in consumers' online activity worldwide is one of the top opportunities of digital marketing. Consumer buying behavior has shifted since the COVID-19 outbreak. Nowadays, people rely on food deliveries, online bookings, and digital shopping. According to a study by UNCTAD and NetComm Suisse eCommerce Association, online purchases grew by 6%-10% for product categories like electronics, gardening, DIYs, pharmaceutical/health, and many more.
50% of consumers worldwide have used digital devices and platforms for buying products, as published in PwC’s Global Consumer Insights Pulse Survey of June 2021. This trend sparked the start of online marketing. Businesses globally maximize digital marketing platforms and strategies to capture their target audience. Brands using traditional marketing shifted to digital advertisements. This move led to a massive demand for digital marketers and agencies.
High Demand for Digital Marketers
There is a high demand for digital marketers in the 21st century because customers are switching to more convenient means of purchasing products and services. This means that businesses are finding creative and engaging ways of targeting their market segment with an effective digital marketing strategy. As mentioned by Leena Naik in her March 2024 LinkedIn article, digital marketers are in demand because of their role flexibility. They can work on email marketing, PPC, social media, SEO, and other online campaigns.
According to Glassdoor’s July 2024 data, a digital marketer’s salary ranges from $50,798 to $78,232 yearly. This amount depends on the type of work they do. Some famous job titles include a social media manager, a content manager, and a blog manager.
Social Media, Content, and Influencer Marketing
The popularity of social networking sites, vlogs, and blogs puts social media, influencer, and content marketing on the top list of digital marketing opportunities. Platforms like Facebook, YouTube, and Pinterest offer a broader way of reaching potential customers. GWI’s global survey revealed that internet users aged 16-64 use seven social media platforms monthly on average. This is why content is also crucial in influencer and social media marketing. In fact, HubSpot’s The State of Marketing 2024 reports that the most engaging type of social media content is short-form videos such as Instagram Reels and TikTok videos. These insights will help you focus on the right content and marketing style.
Omnichannel Marketing
Omnichannel marketing, like text blasts, email campaigns, and website CTAs, are effective ways of capturing your target audience. This is a great digital marketing opportunity that offers high income potential. According to the Softtek blog, businesses with a good omnichannel marketing tactic retain 89% of their customers. Charlotte Blicher’s article on Digizuite also reveals that having a well-crafted omnichannel strategy increases your yearly revenue by 9.5%. Great digital marketers utilize not only social media platforms but also different marketing channels. You can use tools like ActiveCampaign or Mailchimp for email marketing, CallHub for text blasts, and Canva and Wishpond for website call-to-action banners and campaigns.
Campaign/Ad Personalization
Digital marketing gives you more opportunities to personalize your ads and campaigns based on your buyer persona. Understanding customer behavior and purchase patterns lets you develop specific digital marketing campaigns that are highly relevant. According to Michael Bürgi’s 2021 article on Digiday, search intent and brand relevancy grows by 6%-7% when marketers align ads to published content. You can drive significant engagement and conversions if your advertisements and campaigns are tailored to your customer's needs and wants. Filters like demographics, age, gender, race, and income level from analytics tools help fast-track content and strategy creation.
Technological Advancements
Technological advancements in digital marketing enable easier customer and market analysis, content generation, graphic editing, and communication. This factor offers a great opportunity to keep up with the latest trends and market shifts to outpace competitors. According to Alina Poperechnaya’s article on Sloboda, 91% of digital marketing professionals proved that their marketing technology implementations impacted their brand’s value. Tools like Ahrefs (SEO), Google Analytics (website analytics), Semrush (keyword research), Optimizely (A/B testing), and Hootsuite (social media management) are pivotal to monitoring your digital performance and managing your ads. It also helps enhance and automate your processes.
Automated Digital Marketing Workflows
Automation software such as Marketo, ActiveCampaign, HubSpot, and Drip is a great opportunity to simplify online campaigns in the digital marketing landscape. According to WebFX, 49% of businesses use automation tools, while 91% report that marketing automation is extremely important to their success. You can automate email campaigns, communication responses, content publishing, analytics, and many more. In fact, Autopilot’s Marketing Automation Performance Report 2015 unveils that automated digital marketing workflows are 2x better in generating leads than email blast software and 47x better than using no software at all.
Organic Online Campaigns
Organic online campaigns enable digital marketers to generate quality leads by maximizing Search Engine Optimization (SEO) and the search engine results page (SERP). This opportunity lets you acquire potential customers at zero cost. It is completely free. All you need is to create relevant content, place keywords strategically, embed useful links, and do on-site configurations. Adam Heitzman backs this up in his article on HigherVisibility, stating that organic search leads to 1,000x more traffic than organic social media marketing.
Top Digital Marketing Challenges
Digital Marketing Saturation and High Competition
Market saturation is the biggest challenge in digital marketing. The increase in digital marketers and the level of competition between them make it difficult to succeed in this industry. A search prompt on LinkedIn with the keyword “digital marketer” reveals 641,000 individuals who are digital marketers. Imagine combining all the job titles in the digital marketing industry like SEO marketers, email marketers, PPC marketers, and many more.
There are millions of digital marketers globally. However, the number of existing customers and brands is way smaller. Competing with these individuals requires more time and effort to learn the business model and the skills to succeed. According to Cision PR Newswire, the compound annual growth rate (CAGR) of digital marketing is at 9%. But, creating a solid reputation and acquiring loyal clients is challenging and costly.
Ballooning Digital Marketing Costs
One of the biggest challenges in digital marketing is the ballooning costs of maintaining paid ads or digital marketing software. Most marketers and marketing agencies use paid ads like Google Ads and Instagram Ads to amplify their campaign reach. It is effective, but it’s also expensive. According to AdRoll, the estimated cost per click of a Facebook Ad is $0.44. For example, your ad had 10,000 clicks. This will cost you $4,400. The more paid ads you run, the more costly it is. Utilize your marketing budget strategically to launch cost-effective campaigns.
Complex Digital Marketing Software and Tools
Complex digital marketing software and online tools make it hard for beginners in this industry. This digital marketing challenge can hamper you from using specific technologies to their fullest. Some software have functionalities that require technical knowledge of the product. You will need further instruction and practice with features like data analytics, technical SEO, CRM management, and website CMS. Often, it requires purchasing additional product training guides. It is costly and complicated.
SEO Intricacy
Search Engine Optimization (SEO) in digital marketing is a real challenge because of its intricacies, such as on-page and off-page SEO, image SEO, and technical SEO. It entails learning about complex website architecture, indexing, rendering, crawling, SERP ranking, HTML tags, and many more. Marketers who can’t use SEO tools and strategies will find it hard to secure loyal clients. This aspect of digital marketing is pivotal for driving traffic, brand awareness, and leads. SparkToro’s US Search Market Share 2018 reveals that 92.96% of worldwide traffic originates from Google Search, Google Maps, and Google Images. While SEO is an essential skill to be a successful digital marketer, it’s also challenging to learn.
Dynamic Algorithms
A major challenge in digital marketing is dynamic search and social media algorithms. There are no specificities or comprehensive guides that detail how online search and digital platform algorithms work. This makes it taxing for aspiring digital marketers because learning these algorithms allows them to personalize their campaigns. According to Dorcas Adisa’s article on Sprout Social, it also offers insight into what users are interested in and how marketers can create an engaging marketing activity.
Digital Marketing Fraud and Scams
Digital marketing fraud and scams pose a massive challenge in the digital marketing industry. Potential customers can easily lose trust if you get associated with one. Consumers are also wary of such scams and fraud. So, they trust professional digital marketers more than beginners. According to a study by Juniper Research, 22% of the total digital marketing ad spending in 2024 was lost due to ad fraud. This led to a loss of $84 billion.
The latest data from Statista shows that digital ad fraud will reach $172 billion in 2028. This means that digital marketing fraud and scams will continue to grow in the 21st century.
Fast-Moving Digital Marketing Trends
Digital marketing trends in this industry are fast-moving because consumer needs and wants also evolve quickly. This digital marketing challenge prevents marketers from developing solid marketing strategies for specific market segments. Pew Research Center’s 2018 survey revealed that 73% of American adults are using YouTube, while 68% are using Facebook for social media engagement. In 2024, marketers are venturing into TikTok and Instagram Reels to capture their target market because of the platforms’ high engagement. According to Influencer Marketing Hub’s 2021 benchmark report, Instagram and TikTok became the top two most popular platforms for influencer marketing. This shows how unstable the trends are for digital marketing.
Limited Availability of Internet Access
A common digital marketing challenge is the limited availability of internet access for some market segments. This hinders potential customers from seeing relevant digital ads and campaigns. The latest data from Statista shows that India, China, and Pakistan have the highest number of individuals without internet access. Digital marketers can expect an enormous loss of potential profit, given that India has 672 million people without access to the internet.
In another study by the Capgemini Research Institute, experts found that individuals aged 22 to 36 make up the offline population of countries like the U.S., U.K., Germany, France, and India. This consumer segment comprises businesspersons and employees. While they have the most capability to shop online, most of them have a limited budget for internet access. Your marketing campaigns will require more effort to drive higher conversions. You will also be left with fewer consumer markets with the capability to purchase.
5 Ways To Overcome Challenges and Utilize Opportunities in Digital Marketing in 2024
What Skills Do You Need To Overcome Digital Marketing Challenges?
SEO & SEM, video marketing, content creation and optimization, data analysis, and CRM management are the skills you need to overcome digital marketing challenges. Every digital marketer must have these specific skills. According to the Digital Marketing Institute’s 2022 research, mid- and senior-level marketers lack the necessary digital skills. This means that equipping yourself with critical skills can help you attract more clients, increase your income, and discover new opportunities.
Is It Easy To Find Digital Marketing Opportunities in the 21st Century?
Yes, it’s easy to find digital marketing opportunities in the 21st century because of the high demand for digital marketers and digital marketing specialists, according to the Search Engine Journal. There are approximately 860,000+ jobs on LinkedIn asking for experts in this field. The latest data from the Bureau of Labor Statistics also reveals that marketing careers will grow by 6% by 2032. However, securing a client in a saturated market is difficult. You need high-level skills and knowledge to compete in the digital marketing industry.
Digital Marketing FAQs
Yes, top digital marketing courses in 2024 can help you build a profitable business because they offer comprehensive knowledge about social media, influencer, SEO and PPC marketing. Receiving training and coaching from digital marketing professionals and industry experts gives holistic insight into the different aspects of digital marketing. They help you build a success roadmap, a robust digital marketing framework, and effective business strategies.
Yes, digital marketing is worth it in 2024, given that you make over $60,000 annually. According to Statista, internet users will grow to 6 billion by 2027. This means that digital marketing opportunities will continue to increase in 2024 and beyond. However, this industry requires in-depth experience to address complex algorithms, consistent content creation, SEO intricacy, traffic generation, and many more. So, it’s important to consider your options and choose profitable, scalable, and sustainable business models in 2024.
Yes, digital marketing is in high demand for the future because of its high income potential and fast-growing market. HubSpot’s marketing report 2021 reveals that 63% of brands worldwide have increased their marketing budget. This means that digital marketers have a profitable future with this career. They can earn around $50,000 to $80,000 per year.
Local Lead Generation Has Way Fewer Challenges and More Opportunities Than Digital Marketing
Digital marketing offers various income opportunities because of its wide scope and in-demand market, but local lead generation has fewer challenges and provides higher income potential. The digital marketing industry is oversaturated. It has high market competition and fast-changing consumer trends. You can get overwhelmed and swept away with more experienced marketers if you’re a beginner in digital marketing.
As mentioned in BrightEdge’s 2019 channel report, 53% of brands’ web traffic comes from SEO, while 27% comes from other digital marketing channels and 15% originates from paid ads. These data prove that the digital marketing industry will boom in the 21st century. However, digital marketing challenges like ad fraud, market saturation, and low client acquisition can limit your potential income. Succeeding in this business model entails gaining 1-2 years of experience, sleepless nights, joining attested courses, intensive market research, and driving traffic through paid advertisements. It is time-consuming, costly, and emotionally straining.
On the brighter side, the local lead generation business model is full of opportunities for business, experience, and income growth. You don’t have to sacrifice your time and energy competing with global marketers because it deals with local service niches. You also don’t need to generate high-quality content daily just to attract potential clients and customers. Local lead gen makes this easier with SEO and attraction marketing. First, build your local service websites. Next, rank them organically on search engines like Google. Afterwards, wait for leads to start flooding into your inbox and phone. Finally, sell them to local businesses and make up to $10,000 for a single site.
Realize your dream business and open more income opportunities. Join a local lead gen course today!
