It is both necessary and important to understand as to what the online marketing statistics 2020 have to say and tell us. In particular for those who are associated with Digital Marketing. This would help in anticipating the direction in which online marketing is heading. Also, it will facilitate the prediction of Digital Marketing trends 2020, and beyond. Knowing and going with the trends is what matters after all, as far as a dynamic field like Online/Digital Marketing is concerned.
In light of this, let’s have an overview of the online marketing statistics in 2020, and what can one expect in the near future. Doing so would give you a more clear idea and picture.
Online marketing statistics 2020 and beyond
Mobile Advertising is reaching new heights
The expenditure towards this mode of advertising is predicted to reach a figure of $187 billion in the year 2020. In comparison to spending on the desktop ($ 88 billion) and television ($ 192 billion) modes, this happens to be more than twice! From this, it is evident that with the increasing number of users preferring their phones over desktops, the advertising budgets are bound to make the switch and adapt to this transforming trend.
As far as mobile-based advertising is concerned, it is estimated that it would amount to 30.5% of the global ad spend in 2020. A substantial rise from 19.2% back in 2017. By 2020, the overall global marketing spend is expected to reach $1.3 trillion by 2020.
With social media having a 3.48 billion user base worldwide, here comes the right opportunity for businesses to pose in front of their ideal target customers so as to develop a deep emotional engagement amongst them, for their brands. Social being a significant traffic puller and in certain cases sales as well, knowing the whereabouts of both your competitors and customers on social media has become critical in being and remaining successful.
A couple of stats associated with social media…
- 75% of marketers have agreed and stated that their social media marketing efforts have resulted in increased traffic.
- As many as 86% of the women out there will carry out research on social media prior to making an actual purchase.
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Demand for videos is at an all-time high
An encouraging fact for Digital Marketers is that consumers of digital media tend to spend more time watching online videos instead of sitting in front of the television. In 2020, on average, online viewing time is likely to reach 84 minutes. The underlying fact is that, very soon, mobile is all set to exceed the TV ad spend.
One more thing to consider over here is that by 2023, users are expected to watch 20% fewer minutes of video-based advertising each day, as compared to today. The question that must have struck your mind would be –What would be the strategy of the brands for this? Deployment of short-form videos which are more engaging, and can catch their viewer’s attention for a longer duration.
Artificial Intelligence (AI)
Artificial Intelligence better known as AI is the thing that is already transforming and revolutionizing marketing operations. AI is influencing aspects like acquiring customers, interacting with them, acquiring deeper insights into the digital strategies, and more productivity, as far as the various companies are concerned. Chatbots specifically are permitting the companies to serve their customers in a better manner, by providing the precise information which individuals are seeking, in a more efficient manner as compared to a human.
A few stats which you got to know…
- In 2020, 85% of customer interactions will be handled without the intervention of a human.
- 80% of the businesses out there are thinking of deploying some kind of chatbot
- Come 2025, the global chatbot market is forecasted to reach $1.25 billion!
- The present AI technology has the potential to boost business productivity by nearly 40%
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Ecommerce traffic is possible from a number of places
A large social component is involved in referral traffic to eCommerce sites. Many would have guessed it right. Facebook ranks first with as high as 80.4% of social media referral traffic being generated from it.
Although there is no doubt that referral traffic is surely important, social media is considered not that good as an influence on the purchasing decision of individuals. But then, what is? Well, product reviews it is. E.g. as a part of a survey, 88% of the respondents agreed that product reviews turned out to be an influential factor while purchasing home electronics.
In the event that you own a physical store along with your online one, it implies focusing on what the customers are saying about your products. The thing to consider over here is that 80% of the consumers have a look at the reviews, information, and prices on their smartphones before shopping in a physical shop.
One would be surprised to know that 70.5% of the social referral traffic in the U.S. came from smartphones in the first quarter of 2019.
Even though there is a difference of opinion about the future of email, below stats show that email is still a very much relevant marketing technique. Thanks to the privacy laws that are making it more difficult to reach the target customers with each passing day. While your reach might be more limited, investing your time to properly segment the people will aid in increasing relevancy and motivate them to open, click, and take the desired action on your emails.
- Talking about average, every $1 spent on Email marketing provides $44 as ROI!
- Marketers who happen to send Emails on Tuesdays, happen to obtain the highest open rates.
- 59% of B2B marketers consider Emails to be the most effective medium for revenue generation.
These were some of the significant statistics, as far as the present and future of Online Marketing are concerned.
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