Vivek Asrani / December 1, 2020 | 9 Mins Read
Curious to learn about digital marketing statistics 2020? If yes, this write-up is just for you. Scroll down and find the most demanding marketing statistics for 2020 at your convenience.
The digital marketing field is highly dynamic and ever-changing. Trends, tactics, and technology never stay stagnant for a pretty long time.
That’s why your business must stay up to date with new developments in the industry.
The last thing you will ever want is for your business to fall behind while your competitors win the race.
The question is, what is the best way to ensure that you keep up with the changing times?
One way to achieve this is by keeping up with the latest marketing trends by reading the marketing statistics for social media 2020.
Irrespective of whether you are into SEO, content marketing, social media, video marketing, advertising, or sales, it is vital that you pay attention to digital marketing statistics.
Here is a plethora of marketing statistics for small businesses that will help you stay connected with your customers. It will also help you reach your target audience without any hassles and boost your conversion rates.
So, without further ado, let’s get started.
It is nearly impossible to ignore how effective email marketing has been. For every $1 spent, it averages a return of $44. Such statistics highlight the relevance of concentrating your digital marketing efforts on email marketing for running a successful online business.
(Source)
In this example, I have provided vital information about the number of people who check email v/s. social media. It consists of insightful stats that can prove to be handy when you send an email to your prospective client.
Most of us receive lots of emails every morning while we open our inbox. Some of these emails end up influencing customers to make a purchase. Email marketing is a handy and cost-effective way to stay in touch with your current and future customers. Simply ensure that you follow the email marketing rules and do not appear to be spammy.
The practice of employing your social network through social media to discover and nurture relationships with prospects to convert leads to sales opportunities is known as social selling. Social networking is a powerful medium to increase sales drastically. For several salespeople, social selling has suitably replaced the dreaded practice of cold calling.
Through this image, I have tried to put across the primary benefits of social selling. As you can see, most people perceive that social selling helps in reduced contact time. The next most significant benefit is an increased number of leads.
Social selling becomes even more effective when you use a little bit of emotion while conveying your message through social media. The important thing is to be real while trying to connect with your audience. This way, you will have the best chance of attracting your target audience’s attention, resulting in getting more leads and conversions for your online business.
A digital marketer knows pretty well that their job simply does not end at lead generation. They also need to nurture their leads. This is where these lead nurturing statistics showcase how important it is to concentrate on leads before and after you have them - to convert them into paying customers.
According to Databox’s research, 66% of people believe that email nurturing is the best way to re-engage leads, with social media retargeting, display retargeting, and search retargeting being the least favored ones.
It is essential to convert every lead that you possibly can. And you need to do it most cost-effectively. Remember, every lead requires you to spend some amount out of your marketing budget. Any slip ups that emerge can result in wastage of money. The major challenge is to reduce the time/money investment in converting leads into paying customers.
This is where I would suggest you opt for an automation software that can transform your lead nurturing outlook. It will help you handle more leads and drive down the cost of nurturing each one on top of the buying process.
With the overall e-retail sales amounting to 14.1% of all retail sales worldwide, eCommerce continues to have a good growth potential despite global economic uncertainty. According to Statista, it has been forecasted that these figures will keep growing and reach 22% by the year 2023.
As per the research conducted by Nielsen, it was found that online shoppers prefer to make purchases from 57% of overseas retailers on average - 63.4% Europe, 55.5% Africa, 57.9% Asia-Pacific, and 54.6% Latin America.
E-commerce is a vast field that is proliferating. Hence, the most important thing is to ensure that you opt for an excellent online shopping site and then provide a quick and effortless checkout process to ensure more conversion of your online shopping business.
Mobile Commerce, also known as MCommerce or mobile commerce, is online shopping done with mobile devices like Smartphones, tablets, or laptops. This type of shopping is quite convenient for both consumers and retailers. It also has a massive impact on the online business since you can easily reach out to your target customers anywhere at any time.
According to research conducted by Invesp, on average, eCommerce orders received from iPhone devices are $117.76, while for Android devices, it is $111.70, and for Windows devices, it is $100.91.
Today customers have the power to search for their favorite products and services at their fingertips. Hence, it becomes imperative to take advantage of mobile commerce and ensure that your website is optimized for mobile viewing.
Social proof is nothing more than a psychological phenomenon where people conform to others’ activities by assuming that these behaviors are reflective of being useful.
When BrightLocal carried out this survey, the answers were quite impressive. About 18-19% of people answered that they always trusted online reviews as much as personal recommendations. While others before, they believed in them if the reviews were authentic. At the same time, others were neutral and skeptical about online reviews.
Social proof is a difficult art to learn but believe me, once you have perfected the art, it can enhance your brand presence to the next level. It can also have a drastic impact on conversion rate optimization.
Search engine optimization, popularly known as SEO, helps you comprehend how customers search for and find your brand and competitors online. By including SEO strategies with marketing efforts, you can increase your website’s visibility and ranking.
From the image above, you might have understood the importance of Technical SEO, content development, traffic analysis, and link building in SEO. This research showcases the results according to company size.
It should not be a surprise to note that Google is one of the most prominent players in the SEO world. To achieve the desired results, you need to comply with their guidelines and other search engines like Yelp, Yahoo, Bing, etc. Once you adhere to them, it gives you the scope of being found on their first page and getting noticed by your target audience.
Here are some online shopping facts that you should miss at your perils. Modern-day consumerism is much more than purchasing holiday gifts while sitting on your couch. These stats highlight visitors’ habits.
As discussed in the last statistic, OptinMonster has quoted finance, non-profit, travel, and retail as the top 4 industries having the highest cart abandonment rates.
Online shopping has become a trend nowadays. We are seeing lots of people buying things online. To ensure smooth online shopping, you need to ensure that there is a low abandonment rate. One way to ensure that is by having a swift checkout process.
Conversion Rate Optimization, also known as CRO, is the process wherein you increase your site visitors' percentage by taking desired actions like completing a form, subscribing to your newsletter, or making a purchase. Here’s a look at some insightful stats to ensure that you are doing it the right way.
In the last statistic mentioned above, WPForms surveyed by asking for personal information and found that it reduces the conversion rate. You can see from the image that if you ask for a phone number, it reduces the conversion rate by -5%, address by -4%, age by -3%, and city/state by -2%.
The conversion rate has a drastic impact on the end sales figure. Hence, I recommend you to take all actions taken by your website’s visitors seriously and ensure that you do not miss out on any conversion point.
FOMO stands for Fear of Missing Out. It’s one of the most underrated digital marketing strategies followed by millions of marketers across the globe. FOMO is characterized by the desire to continue staying in touch with what others are doing with the fear that they are likely to miss out on rewarding experiences.
As per the last statistic released by MyLife.com, roughly more than 50% of people are afraid of missing out on something big like an event, news, important status update if they don’t keep an eye on their social networks.
FOMO is your perfect opportunity to ensure that your target audience gets to check out your online products and services. Although it is a negative approach, it can yield positive results for your online business.
Here you have it, folks! Hopefully, this list of digital marketing statistics for 2020 will get useful insights into what’s happening with your competitors. You can even try these ideas for your business too.
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Vivek Asrani is working as a Senior Content Specialist at Acquire. He has been providing high quality content to clients over a period of 7 years. Many of his articles have been published in magazines and blogs. His expertise revolves around blogging, website content writing, press releases, infographics, eBooks, etc. He loves reading and writing.
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