In the recent turmoil of the financial markets and talk of deficits and debt, many investors and advertisers, brands and agencies alike, are looking at new markets.
The BRIC economy’s always feature when people talk of new markets and expansion. The BRIC market, Brazil, Russia, India and China are definitely exciting and expanding markets. The need and adoption of digital service has been growing steadily over the last few years.
Also, no one can doubt that to ignore these markets would be commercial suicide as in time; these regions will be the new powerhouses of the future. Though all the above is true, lets take a step back and examine the situation and more importantly let us not ignore something that is right under our nose.
For all their massive populations and middle classes, fact is China and India are still maturing. Their growth is being tempered by global markets and the power of the US dollar. The companies setting up there are from the west and the brands that are being consumed are in the main, luxury US and European brands.
When everything is weighed up, the creative services market is centred in the US From Hollywood to Universal Music, the creativity of the US market is hard to beat. The growth of Social and Digital platforms are no different. Whether you are a ‘Google’ or a ‘start-up’, the talent comes from tech and media hubs in California & New York.
This is why Digital Clarity is currently seeking offices, talking to partners and slowly raising its profile in both the East and West coasts of the US.
Digital Clarity’s DNA runs deep in the interactive arena and after reading numerous reports about the growth in the digital economy in the US, it made sense to ramp-up activity in New York first and support the work that has being going on in the background with Fiona Bloom.
This exciting development will be kicked off by a forthcoming visit to NYC and then followed to pursue interest that has also been expressed by a number of parties in LA and San Francisco.
Recently a report by Forrester Research highlighted that U.S. interactive marketing spending will reach $76.6 billion by 2016. According to the report, search and display will continue to be the biggest pieces of the interactive spending pie, comprising 44% and 36%, respectively, in 2016, though search will have lost share from 55% in 2011. Mobile paid advertising and search will experience astronomic growth and are surpassing email and social this year.
Digital Clarity is firmly in this space and whilst keeping one eye on the BRIC market, the prospect for growth by a ready-made company to work in a ready-made market, the US looks promising.