In the ever-changing domain of business, companies worldwide are making every effort to achieve a balance between digital media (which represents a fresher, more contemporary approach to marketing) and offline marketing channels to appease long-standing clients. Such a tight-rope, particularly in a scenario where one needs to appeal to a local landscape, might seem particularly difficult to straddle.
In light of this conundrum, a new survey carried out by ICON - itself an established local software development company - aims to gain a better understanding of the full impact that digital marketing strategies have had on local enterprises and the strategic ways in which such marketing techniques promises to be a game changer in the local scene. The survey comprises of 83 locally based businesses ranging from large companies to small enterprises and including such diverse industry sectors as IT, medical, financial, beauty and media.
Key findings of the survey overwhelmingly signal towards the growing magnitude of social media marketing in Malta, and the reflection of such development in tangible aspects such as allocation of resources. Indeed, almost half the participants (46%) predict that budgets dedicated to digital marketing will steadily increase in the near future. The survey’s findings thus shed light on local reactions to global audiences at a particularly important moment: the advanced development and significance of Local Based Applications in mobile technology. To this effect, ICON’s survey intriguningly foresees an increase in local mobile marketing which promises to be the next big thing in the digital era. Such enhanced mobile marketing and search engine optimization on the part of Maltese companies points towards a step in the direction of other European countries that have followed a similar development path.
Whilst it is encouraging to see such widespread local use of digital channels in the spirit of internationally successful models, other key findings of the survey suggest that there exist some hindrances in the digital marketing strategies of many companies, namely the still-restricted budget allocated to such endeavours – attested to by 56% of the survey’s respondents - and a distinct lack of motivation to outsource and subcontract.
Having such advantageous information at their disposal, ‘local businesses should utilise the researched statistics of the survey to give themselves an edge over their marketplace opponents. As businesses strive to promote their services through the most opportune marketing channels possible, the local economic landscape will surely be enriched through such competition,’ says Daniela Grech, author of the report and Content and SEO Specialist at ICON.
The Digital Marketing in Malta Report can be downloaded for free at http://www.icon.com.mt/digitalmarketing.