Ongoing projects the NACDS Retail Advisory Board has been working on led to two Insight Sessions at the NACDS Total Store Expo (TSE) earlier this month. One was on the state of digital marketing among retailers and the other explored the difference between a new item and an innovative new item, which will later be published as a white paper.
U.S. digital ad spending continues to grow and is expected to comprise 45 percent of total ad spending by 2020…
The digital marketing presentation covered three years of primary research on how chain pharmacy retailers leverage digital marketing to grow their businesses.
The researchers updated the study this year and during their presentation at TSE—“Winning with Digital 2016”—they discussed how companies are expanding their digital marketing capabilities to drive awareness and sales. The study shows that U.S. digital ad spending continues to grow and is expected to comprise 45 percent of total ad spending by 2020, however the researchers noted that even though digital marketing has been around for 20 years, it is still in its infancy.
The presentation candidly discussed the challenges inherent in digital marketing and found that most companies are still undertaking multiple activities to build on their digital capabilities. They offered several strategies for companies as they continue to try and master successful and quantifiable digital marketing initiatives.
