For some creatives (ok mainly me) maths can be a sore spot. Being asked to answer anything close to a mathematical equation causes me to break out in cold sweats and run for the hills. The only thing worse? Being asked to show your workings out too. THE ANSWER IS THE ANSWER (according to Google) OK!
That being said, when it comes to marketing campaigns, showing our working out is important. Why? Because it proves impact, demonstrates effectiveness, and shows where our strengths and weaknesses lie. For digital marketers, stats and data is the bread to their butter, the protein to their shake, the Nigerian Prince to their spam email folder. You get the picture.
For example, do you know why you’re implementing your current marketing strategy?
Hopefully, it’s because you’ve done your homework (A.K.A market research) and your shiny new scheme to attract some lovely customers is backed by up-to-date info and statistics. If you don’t have a clue how to start however, you can use this post as a jumping off point instead. Think of it as your little black book of useful stats tucked away in your back pocket, giving you all the data you’ll need to back-up every marketing decision you make this year.
So, let’s get into it…
1. The global digital advertising and marketing market was estimated at $350 billion in 2020 and is projected to double by 2026. Furthermore, 63% of businesses have increased their digital marketing budgets in the past 12 months.
What does this mean for you? Well firstly that a lot of businesses are investing in digital advertising this very second. What’s more, on average, they plan to double this investment over the next three years. So, if you’re not one of them, I hate to break it to you – but you might be falling behind.
2. PPC returns (on average) £2 to every £1 spent, and the highest reported platforms are Google Ads and Facebook Ads.
We get it, there’s a lot of admin to get your head around with Google and Facebook Ads. Setting them up can be overwhelming and confusing. However, if you get it right it’s one helluva investment – plus a great way to cast your net a lot wider and reach more customers with very little risk.
3. Email marketing returns £36 to every £1 spent.
It’s a truth universally acknowledged that most businesses have a list of current and previous customers and never bother emailing them. Sound familiar? If that’s the case, it might be time to whip up some content and start a virtual convo with your most loyal customers.
Even more interestingly, most small businesses say email marketing is the channel that brings them their highest return on investment. What’s not to love?
4. Digital Ads can increase brand awareness by 80% with consumers being 155% more likely to purchase after they’ve been exposed to a brands digital ad.
This stat only furthers our argument that you should be getting on the paid ads hype train ASAP. I mean, who doesn’t want more customers aware of what you do and thus more likely to buy from you? It just makes sense, right?
5. Social Media made up 33% of all digital ad spending in 2022, with a 17% year-on-year increase.
Now, I don’t want to scare you, but these stats show where digital advertising is heading – social media marketing and pay-per-click. And, if you want your business to continue to grow, you NEED a social media presence, and you’re going to have to start spending to reach your audience. I know, it sucks. But it’ll be worth it in the end…. (we’ll get you back one day Zuckerberg).
6. Businesses that blog get 55% more traffic to their website.
Blogs are great for SEO – we know this, right? And, as well as boosting your SEO, blogs are also a great tool to add a little value to your customers life – and should be used as such. So, when you blog, make sure you’re looking for content ideas and not keyword rich topics. Think about how your customers are going to use this info. If you get it right, they’ll keep coming back for more – and bring their mates too.
And there we have it, six stats that tell you everything you need to know about why digital marketing is the way forward baby.
If this post has got your head in a tailspin because it all sounds a bit like gobbledegook, never fear. That’s what we’re here for. So, if you’re looking to jump aboard the good ship digital and get a campaign in place this year, but don’t know where to start. Drop us a message – we’d love to hear from you.