Outlook for European Digital Marketing Services in 2024
The digital marketing landscape in Europe is seeing significant transformations in 2024. These changes are being driven by technological advancements, evolving consumer behaviors, and stringent regulatory environments.
Interviews conducted in March 2024 with executives of digital marketing agencies across Europe and the UK reveal a picture of cautious optimism for digital services going forward.
Table of Contents
- Report Predicts Recovery in Digital Marketing Services
- Report Highlights How AI Disrupts Digital Services
- The DOM Difference Across Industries & Continents
- Industry Partnerships — Keys to Digital Marketing Success
- Put International Digital Marketing to Work for You
Report Predicts Recovery in Digital Marketing Services
A new report by M&A specialist JEGI CLARITY and growth strategy consulting firm CIL suggests that digital marketing services are projected to recover more quickly than other digital services in 2024.
“2023 was a challenging year for many digital services agencies as they faced macro-economic uncertainty and increased competitive pressure. Larger agencies, struggling amidst these conditions, found themselves pursuing smaller new businesses to stay competitive.
Looking ahead, cautious optimism prevails for the upcoming year, with expectations of steady single-digit market growth amidst improving economic conditions.”
DOM’s success this year lends credence to this report. We have entered into new European markets with programs to help these clients grow sales.
In one case, we’re helping a logistics leader increase sales in their local region of countries with a shared language.
In another example, we’re helping a manufacturer expand their sales in North America to capitalize on recent success in Canada.
Report Highlights How AI Disrupts Digital Services
The report also comments on how innovations in AI over the past two years are now being harnessed. It is anything but business as usual, as organizations integrate AI in various corners of their operations.
“Artificial Intelligence (AI) remains front of mind among respondents as a key disruptive trend. Feedback on its likely impact is mixed, with many focusing on the potential for efficiencies, while uncertainty persists regarding whether these efficiencies will benefit agencies or just increase financial pressures from clients.
Nevertheless, respondents recognise the potential for AI disruption, with 60% actively implementing AI into their workflows. Key applications include automated creative processes, A/B testing and targeting, data collection and analysis, as well as internal project management tools.” —Nex Media
The artificial intelligence, machine learning, and large language models behind chatbots and services like ChatGPT, Claude, Grok, and Gemini can be put to many uses in digital marketing.
By leveraging these tools, marketers can drastically cut down on time spent on manual tasks, allowing them to increase their output while simultaneously increasing time spent on strategy and higher impact thinking.
We just share a note of caution that using AI output wholesale can be off putting to humans and Google alike. Many digital marketers have seen initial SEO gains go poof overnight.
At DOM, AI helps us provide a better level of service to our clients. Learn some of the ways we leverage AI in digital marketing.
The DOM Difference Across Industries & Continents
The report from JEGI CLARITY and CIL notes that 2024 looks to be a good year for the digital services industry in Europe after a relatively rough 2023. Great news for European companies!
At DOM, we’re well-versed in the European and broader global market. We’ve been helping European businesses from the United Kingdom to Türkiye and many points in between for over a decade.
It is in part for these efforts that the U.S. Commercial Service recently awarded us with the President’s “E” Award for exporting excellence.
Industry Partnerships — Keys to Digital Marketing Success
When the economy is rocky, businesses become more hesitant to enter into long-term service agreements. It’s sensible. You don’t want to put all your eggs in one basket, nor even to put a few eggs in a basket that you must commit to for a year minimum.
DOM stands out by offering month-to-month contracts. We don’t require the lengthy engagements that many in the industry treat as project minimums.
This month-to-month commitment means that we must prove ourselves to our clients every 30 days. Clients are free to leave at any time. (However, most don’t. Our retention rate stands at over 85%, which exceeds benchmarks for the digital marketing industry.)
DOM’s uncommon business model and partnerships allow us to weather economic instability.
Put International Digital Marketing to Work for You
Are you reaching everyone who would benefit from your product or service? Have you reached a point of diminishing returns with your marketing efforts? Thinking of making a change?
Schedule a no-obligation digital marketing consultation with our strategists. We’ll review your website and your current marketing efforts to identify the obstacles and opportunities unique to your business.
