Best Digital Marketing Statistics for 2024
As ad expenditure continues to increase, the digital PR and digital marketing scene will be more competitive than ever in 2021. To stand out from the crowd, digital marketers must customize customer experiences.
Increased limitations on third-party tracking cookies, as well as a growing number of large frightening names such as GDPR, CCPA, and IDFA, are making marketing personalization more difficult. Marketers are using first-party data from their consumers’ voices to tackle this problem. We’ve created a list of data that digital marketers should be aware of as they plan for 2021.
1. By 2021, global digital ad spending will total $389 billion.
While global digital ad expenditure increased by 2.4 percent in 2020, it is anticipated to rise by 17 percent in 2021. It’s hardly even a comeback! (Image courtesy of eMarketer)
2. Paid search advertising has an average cost per action (CPA) of $49, while display advertisements have an average CPA of $75.
These figures show how competitive digital advertising can be in a variety of sectors. The stakes for digital have never been higher, and the demand on marketers and agencies to improve campaign effectiveness in order to win more consumers for less money has never been greater.
3. In 2020, the United States will spend $43 billion on social media advertising.
This was a 20% rise over the previous year. In fact, more and more businesses craft their budgets in a way that allows them to use services such as those provided by a top-notch digital marketing & lead generation agency or an independent marketing consultant.
4. By 2020, Facebook ad spending in the United States will have surpassed $31 billion.
This is a 5% rise over the previous year.
5. LinkedIn ad spending in the United States surpassed $1 billion in 2019
Since 2016, ad spending has increased by 40%. For B2B marketers, LinkedIn has become a go-to advertising platform.
6. By 2020, mobile display ad spending will have surpassed $61 billion.
This was a lower rise than eMarketer predicted before the COVID-19 epidemic, but it was still a 22% increase over 2019.
7. Only 61% of marketers think their marketing approach is successful.
Despite the fact that most marketers are skeptical of their tactics, they continue to invest heavily in digital advertising. When you put it that way, doesn’t it seem a little illogical?
8. Proving the ROI of marketing initiatives is a major marketing problem, according to 40% of marketers.
Many digital marketers are unable to adequately assess their performance while spending significant parts of their expenditures on digital advertisements.
9. Targeting or segmenting their audience is a problem for 9.58 percent of marketers.
Many marketers are unable to access all of the valuable first-party data at their disposal, making it impossible to tailor customer experiences.
10. The optimization of next-best-action marketing decisions is a difficulty for 10.57 percent of marketers.
Marketers also lack the data they require to move customers along the sales funnel following their initial brand interaction.
11. Eighty percent of marketers say their lead generating activities are just somewhat effective.
Digital marketers have additional problems in lead generation when they fail to track and optimize every stage of the consumer experience.
12. Only 22% of firms are happy with their conversion rates.
Driving leads is only half the fight; if sales representatives aren’t properly prepared to handle them, leads might fall through. Sales teams may use conversation intelligence solutions to gain visibility into every contact center encounter and identify new revenue possibilities.
13. A lack of reliable data is the largest obstacle to lead creation for 42 percent of B2B marketing professionals.
The current customer experience is fragmented across several channels, taking a complete picture of the customer journey impossible to obtain. Marketers can make smarter improvements using high-quality call tracking data that connects the customer journey. Personalization across all channels is helping marketers get better results.
14. According to a recent study, multichannel marketing had an engagement rate of 18.96 percent, while single-channel ads only had a 5.4 percent engagement rate.
Consumers now own more gadgets than ever before, and they frequently switch between channels while shopping. Marketers should take this in mind while creating campaigns.
15. When compared to single-channel efforts, omnichannel campaigns yield a 250 percent greater rate of buy frequency.
More money will be generated if your brand is kept front of mind across many platforms.
16. Omnichannel marketing has a 90 percent greater customer retention rate than single-channel efforts.
Customers are more loyal to companies that interact with them on many platforms.
17. Consumers are more inclined to conduct business with a firm that provides individualized experiences, according to 80 percent of respondents.
You’re losing money if you don’t customize your phone call experiences. Marketers can’t rely on third-party data to guide personalization any more.
18. 81 percent of marketers are concerned that using third-party data would cause privacy issues.
Marketers are moving away from third-party data sources in the aftermath of the Cambridge Analytica incident, as well as data privacy legislation like GDPR and the California Consumer Privacy Act.
19. 82% of marketers want to increase their usage of first-party data in the future.
Because third-party data poses a security risk, marketers are relying increasingly on internal data to guide targeting and personalization.
20. Mobile advertisements
In 2019, mobile advertisements prompted over 162 billion phone calls. It’s a frequent misunderstanding that as the world becomes increasingly computerized, phone conversations are becoming less important. This figure demonstrates that mobile advertisements and click-to-call capabilities are generating more phone calls than ever before.
21. For many people who conduct Google searches, the most common next step is to call.
Consumers looking for accountants, hospitals, dentists, and HVAC repair are especially likely to call.
22. People who conduct a local voice search are 28 percent more likely to call the business.
Voice searches, in addition to digital advertisements, are generating a large number of incoming calls. Following a local voice search, the most common step is to make a phone call. This option is especially appealing because it seamlessly transitions from voice search to phone call, whether on a smartphone or smart speaker.
23. Calls are 10-15 times more likely than online leads to convert to revenue.
Inbound callers have a higher purchase intent than web form fillers, and they’re generally further along in the customer journey.
24. Leads from the phone convert 30 percent faster than those from the internet.
People frequently call because they need help right away and don’t have the time to fill out a web form and wait for a response.
25. 48% of marketers have offered or anticipate providing improved customer experiences.
Based on the content of phone calls, marketers may improve ad targeting, segment email campaigns, offer tailored website experiences, and more with conversation intelligence data.
Keep these statis in mind and go ahead with your digital marketing campaigns.
