Statics and Trends in digital marketing to help you plan for 2020
We at Vridhii recognize that the industry is changing ALWAYS as a digital marketing agency that specializes in all things digital. After all, we’re known in the realm of marketing trends as a top digital agency that knows they’re coming and going like a rotating door to, well, trends. Whether it’s an innovation that turns the advertising world on its head, or an evolving search algorithm which messes up the well-planned plans of many marketers, digital marketing is chaotic.
Luckily, there are a few things we can do to make it much easier: go over the facts and stats of digital marketing so that we can know what is to come. In other words, we should be looking at concrete facts and data-backed forecasts instead of relying on guesswork to formulate our plans, which make everything much simpler. For today, we will look at the 2019 digital marketing statistics and trends to determine which marketing trends and data we should focus on in 2020.
20 Digital Marketing Growth Statistics to Help You Prepare 2020 As we’ve just discussed, our goal for today is to cover 2019 marketing statistics so we know what the 2020 digital marketing trends are in store for us. Although we can cover many possible topics, we will focus on particularly pressing topics such as advertising, social media, eCommerce, AI and marketing automation, and even privacy regulations. Let’s start with it!
1. Total global spending on ads is set to reach $1.3 trillion by 2020. This includes everything from administration of public relations and data investment to sponsorship and direct marketing.
3. Narrowing on a specific marketing facet that is particularly relevant today ? mobile advertising? it is predicted to account for 30.5% of global ad spending in 2020, up from 19.2% in 2017.
3. In total, mobile advertising spending is projected to reach $187 billion in 2020. This is more than twice as much as mobile spending ($88 billion) and about $5 billion ($192 billion) behind television! As more and more users choose their phones than desktops, it is clear that advertising budgets will make the switch and reflect this changing trend.
4. What else is impressive, do you know? The fact that consumers of digital media spend more time watching videos online than they do before a TV and that by 2020, the average online viewing time in the world will reach 84 minutes. In other words, expect mobile advertising to be spent on television soon.
5. Here’s the kicker: by 2023, users are expected to watch 20 percent fewer minutes of video ads per day than they do today. How are brands going to respond, you ask? By using short-form videos that are engaging and capable of keeping the attention of their viewer.
6. Browsing social media is one of the most popular activities people do while on the web when talking about online things. How popular is that? So much so that users of social media around the world are expected to reach 3.1 billion by 2021, up from 2.65 billion by 2018.
7. If we are precise, the worldwide penetration of social media is always on the rise and in January 2019 stood at 45 percent. As less developed nations move forward, this number is expected to increase even more. This is particularly true given the availability of cheap smartphones, which has traditionally spurred social media use.
8. For example, Eastern Asia, known to be especially mobile-first, was at the top of the global penetration ranking of mobile social networking (70%). Founded digital powerhouses like the Americas and Northern Europe follow them.
9. So you know, the penetration of social media in North America is 61%. So you’re even more conscious the international penetration in social media is 42% lower.
10. Combining our social media interaction with something else that people do online ? shop? referral traffic to eCommerce sites has a huge social dimension. Facebook takes the cake, as you may have guessed, delivering 80.4 percent of social media referral traffic.
11. That’s right. As we touched on earlier, the waist is tied to phone and personal. This means you’ll probably see a large portion of social referral traffic created there when it comes to referral traffic. As it happens, during the first quarter of 2019, 70.5% of U.S. social referral traffic was generated from smartphones!
12. 12. Though referral traffic is definitely important, social media is not really good at influencing buying decisions. You know what it’s like? Reviews of the item. For example, 88 percent of survey respondents agreed that product reviews were an influential factor in the purchasing of home electronics.
13. If you have a physical store in combination with your online store, that means focusing on what people say about your items. After all, 80 percent of consumers on their smartphones are looking for information, reviews and prices while shopping in a brick and mortar location.
14. 14. Take another turn and focus on other issues. This time, it is the privacy legislation that we have recently seen in the media (e.g. GDPR). By 2023, by reducing the use of cookies, e-privacy regulations are expected to increase online costs. This is likely to cripple the online ad market in turn.
Fifteen. With consent (rightly) becoming even more relevant, consumers will have greater control over the information they provide to the brands with which they communicate. It is expected that the brands that give users more of this power will minimize customer turnover by 40% and increase the lifetime value by 25%! It makes sense when considering the element of loyalty that makes a one-time shopper a repeat shopper.
16. And now we’re going to close this article by addressing AI and marketing automation, which will certainly be a big part of the 2020 plan for content marketing trends. As a matter of fact, with the aid of AI, content creators can create more than 30% of their digital content.
17. Knowing how strong AI is, 44 percent of executives agree that “automated interactions providing data that can be used to make decisions” is their most important benefit. In addition, autonomous marketing systems will issue 55% of multi-channel marketing messages based on actionable real-time consumer behavior by 2023, resulting in a 25% increase in response rates.
19. Another thing that AI can do is power chatbots that can act as representatives of 24/7 customer service who take care of your userswhen you can’t. Okay, 85% of online customer interactions are expected to be handled by 2020 without a person.
20. Twenty-five. Last but not least, let’s go back a little and get mobile back into the fray: by 2020, smart agents will take care of 40 percent of mobile interactions.