Businesses are projected to spend $605 billion in 2020. That’s more than a 4% increase from 2019. This implies that the digital marketing space is getting more competitive.
In 2020, U.S.-based businesses are on track to spend $110 billion on digital advertising. To put this into perspective, businesses will spend more money on online advertising than print and TV combined. This is a testament to the power of digital marketing in the current economic climate.
Only 61% of marketers believe that their strategies are working. Although many business owners have little confidence in their strategies, they still put a massive budget into advertising.
40% of marketers are saying that measuring the ROI of their marketing activities is a challenge. Although many business owners are spending a lot on digital marketing, they’re still having a hard time measuring their results.
In a recent study, campaigns that span across multiple channels have an 18.9% engagement rate, compared to single-channel campaigns with a 5.4% engagement rate. Customers are on many different platforms and own more devices than ever before, and they’re bouncing between channels when purchasing.
In addition, omnichannel campaigns saw a 250% higher purchase frequency when compared to single-channel advertising. The more you can keep your brand in the minds of your customers, the more revenue you’ll get.
61% of marketers believe that search engine optimization or SEO is the winning strategy. By far, organic traffic is still the main source of online traffic. A strong SEO campaign will take your digital marketing to the next level.
On a related note, 70% of clicks in Google are from the organic listing, and 30% to the sponsored (paid) links. This is one of the most important statistics in digital marketing. Although paid search ads can be effective, it’s not as impactful as optimizing for organic traffic.
In 2019, about 3.5 billion people are on social media and the number keeps growing. It’s safe to say that your customers are on social media – a strong social media marketing campaign should be a good fit for your business.
73% of marketers believe that their efforts in social media have been “very effective” or “somewhat effective” for their business. Social media allows business owners access to cost-effective marketing, build brand loyalty, and engage their audience.
In terms of PPC returns, businesses make $2 for every $1 spent on paid search campaigns. That’s a 100% profit which is nothing short of impressive. However, to have this kind of positive result, PPC absolutely needs to be done right.
Paid search visitors are found to be 50% more likely to make a purchase when compared to organic users. This is hardly a surprise when PPC targets users with high-buying intent. Basically, visitors who have money on hand and ready to spend.
Just how important content marketing for marketers? According to a report, content marketing is the second most important skill for marketers. Approximately 60% of marketers rate content marketing as extremely valuable to their online marketing strategies.
60% of digital marketers create at least one piece of content on a daily basis. To succeed in content marketing, consistency is the key. Unless you have a massive marketing budget, you’ll struggle to acquire leads without a consistent content marketing strategy.
The first 5 seconds of a page’s load time can severely influence the conversion rate. With each additional second of loading time, a site’s conversion rates can drop by an average of 4.42%. This statistic highlights the importance of a conversion-optimized website.