Over the past decade, digital marketing has evolved from a niche field to a booming industry, often eclipsing traditional marketing in terms of its reach and ability to engage customers. Having a strong digital marketing strategy is no longer optional, but knowing why, how, and when to invest can be daunting.
Here are some facts and figures to help you get started:
- Buyers’ interests change throughout the buying process. In fact, 77% of buyers reported that they look for unique content at each phase of the research process. Your product marketing strategy needs to evolve with your buyer.
- Over 21% of the world’s population makes purchases online. That means your digital marketing efforts are reaching out to an audience of almost 1.7 billion consumers globally.
- Younger consumers in particular are making around 60% of their purchases online as of 2019, up from 47% in 2017. Unfortunately, they’re also one of the toughest groups to reach through marketing efforts, with 84% of millennials reporting that they don’t trust traditional advertising methods. That makes it all the more critical for businesses to produce inventive, engaging digital marketing content.
- Millennials do, however, embrace for more creative approaches. 44% are willing to promote a brand on their social media account in exchange for free products or services. 62% are more likely to make a purchase from a brand if they’ve engaged with it on social media.
- Across the board, businesses are stepping up their digital marketing presence to account for this shift in consumer preferences, with digital marketing spending expected to rise by 17.6% in 2019, to a total of over $333.25 billion internationally.
- On average, businesses see $2 in revenue for every $1 they invest in Google Ads. That’s no real surprise when you consider that Google is responsible for 96% of all searches performed on smartphones.
- Inbound marketing is the top priority for 74% of digital marketing professionals worldwide. Only 18% reported that their best sales leads stemmed from outbound marketing efforts, while 30% of both inbound and outbound marketers believe that outbound tactics are a major waste of time and money.
- When it comes to content, 55% of digital marketing pros report that blog posts are their top priority when it comes to inbound marketing.
- Video content is also a high priority, with 83% of marketing pros and small businesses reporting a good ROI for video content. 81% saw an increase in sales that they attribute to video campaigns.
For more on digital marketing, check out our rundown of some of the best free digital marketing tools
available on the web.