Numbers never tell lies. If you want to create future projections of your business, you heavily rely on the existing numbers and compare them with the past. It gives you an analysis of how your business will do after a certain period. Numbers also tell you which areas need your immediate attention and where you can invest more to secure better revenues.
When it comes to digital marketing strategies, statistics play a leading role. Digital marketers in Chicago, IL or Dallas, TX look at their numbers with almost the same approach. The idea is to create strategies that add more value to the bottom line of the business. Therefore, you will always find digital marketing experts advocating numbers crunching. This data crunching involves many factors but together they paint a clear picture of what to expect from your business in the future.
In this piece, we will have a look at several digital marketing statistics that no one can afford to ignore. So, let’s get the ball rolling.
1. According to an estimation by The Drum, the global digital advertisement spending will surge by 4.2% to 605 billion U.S. dollars by the end of this year as against the last year.
2. According to eMarketer, in the United States alone, enterprises are set to spend 110 billion U.S. dollars on digital marketing and advertising. Let’s show you the bigger picture. This amount is a lot bigger than the money that American businesses are going to spend on marketing through TV and print media advertisements. This is how digital marketing has stolen the limelight.
3. The WordStream has found out recently that digital advertising has become so competitive that now the average CPA (Cost Per Action) for paid search is $49 whereas it is $75 for display advertisements.
4. Zenith Media has reported that worldwide social media spending has surpassed any other form of marketing spending. In the year 2019, it was the first instance that businesses spent $84 billion on social media advertisements, which was the highest in history, and bigger than other mediums.
5. According to eMarketer, from Years 2016 to 2019, Facebook ads spending in the US jumped 107% to $25.56 billion. Despite the recent controversies involving Facebook, brands found enough trust in the social media platform’s ability to find new customers through advertisements.
6. For the first time in history, American businesses spent over a billion dollars on LinkedIn advertisements in 2019. The eMarketer stated that brands spent as much as $1.02 billion, thereby posting a healthy growth of 40% against ad spending in 2016.
7. Zenith Media has reported that global spending on mobile advertisements is likely to form 30.5% of the total ad spending in 2020. This figure is 59% better than in 2017.
8.Mobile is rapidly taking the center-stage. The Aumcore stated that companies are forecasted to more than double their spending on mobile advertising in 2020. Keeping the trend in mind, digital marketers are also making peace with mobile ads.
9. Interestingly enough, many online marketers don’t really believe that their marketing strategy spurns the magic for brands. According to HubSpot, only 61% of digital marketers believed their strategies bear fruits for businesses. What is more interesting is that despite their disbelief, they are still attracting huge money on digital advertising worldwide.
10. What do you think is the top challenge for online marketers? According to a survey by HubSpot, 40% of digital marketers term proving the ROI as their biggest challenge. The truth of the matter is that despite massive spending on digital advertisements, many online marketers fail to deliver on their word.
11. According to BrightTALK, as many as 80% of marketers said that their lead generation strategies were fractionally effective. Apart from proving the ROI, lead generation is also a nightmare for many digital marketers.
12. The unavailability of quality data is the biggest roadblock in lead generation for online marketers. As per the BrightTALK, it is a tough job to get an absolute view of the customer behavior. The provision of quality data allows marketers to better target their audience.
13. According to Econsultancy, only 22% of businesses show satisfaction with their conversion rates. The truth of the matter is that attracting leads is only one side of the coin. Sales don’t get executed until your sales agent has sealed the deal.
14. A recent study by ClickZ discovered that single-channel campaigns saw only a 5.4% engagement rate, which was 18.96% for omnichannel campaigns. People these days have many devices, which means they jump around between channels when they are making a purchasing decision.
15. The study by ClickZ further revealed that the purchase frequency rate of omnichannel campaigns is 250% more than the single-channel campaigns.
16. As far as customer retention is concerned, omnichannel campaigns performed 90% better than single-channel campaigns. Experts say that consumers like to trust the brands that create engagement with them on multiple channels.
17. Personalization holds the key to making customers build trust in your brand. It was evident in the study conducted by Instapage which showed 80% of customers believe they are ready to do business with a brand that offers personalized shopping experience.
18. According to eMarketer, 81% of marketers believe that the use of third-party data could be a cause of privacy concerns. Digital marketers are warier than ever in the aftermath of the Cambridge Analytica scandal and data privacy laws like The California Privacy Act and GDPR.
19. Digital marketers are concerned about their client’s privacy. According to a report by Signal, 82% of online marketers like to use first-party data and refrain from third-party data.
20. The BIA/Kelsey said in their report that mobile advertisements are rapidly capturing the market share. The report highlighted that mobile advertisements resulted in 162 billion phone calls in 2019 alone. It also shows that phone calls haven’t lost their sheen despite the latest trends in digital marketing. The following image also confirms that click-to-call and mobile advertisements have met the highest success rate for businesses in 2019.
21. According to a study conducted by LSA, consumers are simply in love with calling companies after finding contact information through Google searches. The call rate finds the highest amount of success in sectors like hospitals, HVAC, accounting, and dentists.
22. Local voice searches have emerged as the latest trend after the availability of Google voice searches and Apple’s Siri feature. According to a report by BrightLocal, 28% of people, who conduct a local voice search, end up calling the business. Other than digital advertisements, voice searches have also met success in securing inbound calls.
23. When you compare the inbound callers with the consumers who fill out a web form, the results are interesting. The BIA/Kelsey has found out that calls have a 10-15 times better conversion rate than the web leads. Inbound callers generally have a clear mind about their product or service and they mostly end up closing the deal.
The Final Word
From the data mentioned and discussed above, we get to the conclusion that web advertisements are a better option than traditional marketing strategies but inbound calls are the best way to boost your marketing ROI.
Experts believe that companies will spend aggressively after the culmination of the novel coronavirus outbreak. They say that brands are likely to spend more on web advertisements resulting in an increased number of inbound calls. If you want your business to secure better revenues, you can contact us today and learn how inbound calls can be your best advertising option.