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Not all digital wisdom and best practices are created equal, so we’re going to spend the next few Mondays taking on some prevalent digital marketing myths. In this post, we’ll take aim at the idea that the Google/Facebook duopoly is in danger in 2020.
The duopoly, currently dominating digital advertising budgets, is under attack from all sides: regulatory threats, data privacy issues, and the emergence of competitors including Amazon. Naturally, that means advertisers should start putting more resources into alternative channels in 2020, right?
Not so fast.
In Feb. 2019, eMarketer’s projections for Google/Facebook spend through 2021 had a distinct downward trend; by September, those projections looked much different:
Yes, channels like LinkedIn (for B2B) and Amazon (for ecommerce/B2C) are growing, and inflated CPCs from heavy competition on Google and Facebook will continue to have marketers hungry for cheaper alternatives. But for lots of reasons (channel viability, concentration of resources, election uncertainty, etc.), Google and Facebook will continue to be the dominant play for the near future – certainly through 2020.
For more on this and other topics, including strategies on how to grow in a duopolized landscape, download the full guide to 2020 Digital Marketing Growth Disruptors. And check back next week for our take on topic #2: voice search.