Digital marketing has emerged as the most powerful form of marketing in the post-pandemic era. With the internet becoming the go-to space for businesses to operate and for consumers to purchase, traditional marketing has taken a backseat. As a result, brands are relying on their digital strategies like never before. According to the latest CMO Survey, 56% of businesses are modifying their business models to capitalize on digital opportunities.
As a means to cash-in on the world’s transition to digital interactions, businesses of all sizes are trying to market themselves online, making the digital marketing landscape more competitive than ever in 2021.
If you’re a digital marketer by profession or a business owner looking to grow their digital presence, keeping an eye on the latest digital marketing stats will help you take stock of the current situation and plan for the future.
In this article, we’ve put together some interesting and hard-hitting digital marketing facts and stats to look ahead to how digital marketing can influence your business and marketing outcomes in 2021 and beyond.
Digital Marketing Facts
- Digital marketing is cheaper than traditional marketing.
- Because digital marketing focuses on areas where people are already spending their time online, it results in higher-quality leads and better chances of conversion.
- Marketing your business online allows you to reach bigger and more diverse groups of audiences across the world.
- Digital marketing is more measureable than most forms of traditional marketing and offers a more tangible way for marketers to tie metrics back to business using analytics tools.
- Consumers are increasingly moving online and they want to be catered differently — e.g. more personalized offerings, round-the-clock assistance etc. Digital marketing supports businesses in meeting these demands.
- By enabling small businesses to compete against bigger brands in the market, digital marketing levels the playing field.
- One of the greatest strengths of digital marketing lies in personalization to allow businesses to alter the user’s experience based on their interests, demographics, purchase behavior, and so on.
Digital Marketing Stats
‘Quality’ Content Is Still the King
70% of internet users want to get information about products through content instead of traditional advertisements. While information overload is a major stressor for consumers today, there’s still a demand for marketing content that allows buyers to make informed decision.
Blogging Is a Marketing Priority
Despite the fact that 500 million blogs out there and more than 2 million posts go live every day, blogging is still a key component of digital marketing plans for most marketers. 53% of marketers agree to have blogging on the top of their content marketing agenda.
And why not? Blogging drives 97% more links to business websites (compared to ones that don’t) and over 68% of consumers feel that a blog makes a website more trustworthy.
Offline Gets a Beating
According to a report by Accenture, global revenue from offline commerce channels will see a 20% dip by 2021, while B2B Commerce market, in the US alone, will hit $1.2 trillion within that period. This signals far-reaching implications for B2B organizations and a cautionary nudge for businesses to level up their strategies to grab buyers’ attention in the virtual world
Digital Ad Spend Is Booming
Global digital ad spend is predicted to jump to $389 billion in 2021. Though worldwide digital ad spending witnessed a humble 2.4% growth in 2020, it’s expected to bounce back with a 17% growth in 2021.
ROI Matters the Most
In a DemandGen report, 89% marketers pointed out improving the ability to measure and analyze marketing impact as a top priority. In an era where businesses are pouring big $$$ into digital marketing, marketers are increasingly under pressure to justify the investments.
ROI Is Also a Leading Challenge
40% of marketers believe ROI to be the top marketing challenge they face. While businesses are allocating large portions of their marketing budgets to digital, marketers are unable to make a proper estimation of their results.
Below is a snapshot of research from TrackMaven that shows the main hurdles marketers face when it comes to proving ROI.
Audience Targeting/Segmentation Is a Challenge
Forrester reports that 58% of marketers are struggling to target or segment their audience. One of the major reasons is not being able to leverage the rich first-party data sources at their disposal, which makes it hard for them to personalize consumer experiences.
Marketers Recognize That They Need to Increase Their Use of First-Party Data
In contrast to the previous stat, marketers seem to be learning the lesson of taking their first-party data seriously. 88% of marketers say that collecting first-party data is their priority in 2021 to get a better understanding of their customers and meet their needs.
Consumer Calls Play a Greater Role in Digital Marketing
One of the trends that has emerged since the COVID-19 outbreak is that businesses are receiving a wave of consumer calls, which is a critical and often untapped source of first-party data. As such, Forrester survey shows that 85% of marketers consider inbound calls and phone conversations as an important part of their organization’s digital-first strategy.
Video Marketing Promises Good ROI
Nearly 90% of video marketers experience a good return on investment.
Videos not only have a high engagement factor but also play a role in conversions. The average conversion rate for websites using video is 4.8%, while it’s 2.9% for those without one.
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Learn the Skills to Up Your Digital Marketing Game Today!
Digital marketing in 2021 is nothing like before. It’s more crowded, more competitive, and way more fast-paced. Simply trying a bunch of different strategies and waiting for something to stick is no longer working. To get the much-raved benefits out of digital marketing practices, the approach needs to be more ROI- and data-driven. This requires solid digital marketing skills which include a crystal-clear understanding of key concepts, working knowledge of marketing and analytics tools, editorial skills, and more.
If the above digital marketing stats are any indication, digital marketers in 2021 need to have a well-rounded understanding of the digital marketing ecosystem and the various channels, platforms, and tools to develop and execute successful strategies.
Begin your digital marketing journey by accumulating the necessary skills. Free courses from Simplilearn like the Digital Marketing 101 Course is a great place to start. For advanced learning, you can explore our Post Graduate in Digital Marketing Program that are delivered by Silicon Valley experts.