Marketing statistics have always intrigued me. They provide some level of validation for the question we’re always trying to answer: what, where, how, and when do we try to weave our brands into the lives of our target audiences?
As we reach the backend of 2018, I hope that some of the statistics below will help you pick out a few key insights to assist your 2019 planning.
Top Level Stats
49% of organisations do not have a clearly defined digital marketing strategy (Smart Insights, Managing Digital Marketing Research Report, 2017)
While this is concerning, it’s also valid. Many businesses I see are embroiled in a “tactics storm”, in which they’re running multiple, disconnected tactics in a scramble to generate results. Because of this, the customer experiences a disjointed brand experience. Failing to plan, is planning to fail. Have a strategy, and by all means test your tactics, but make sure they are contextually specific to the target market and are targeted properly.
More than 8 in 10 (83%) of Account Based Marketers plan to expand their marketing stack for account-based marketing purposes in the next year (#flipmyfunnel Account-Based Marketing Survey)
While account-based marketing is a hot topic at the moment, it’s actually been around for a decent amount of time. Targeting decision-makers and influencers at ring-fenced accounts seems rather straightforward and obvious, but it can be quite tricky to understand and outline how these organisations make decisions. Not to mention plotting out a map that adds real value to different stakeholders at different stages of the buyer's journey. Done well, ABM can be a hugely successful approach for your business to take, especially in the B2B space.
64% of consumers say that watching a video on social media influenced them to make a purchase (Animoto, 2017)
This isn’t all that surprising. On-the-go information is a trend that’s emerged with ease-of-access to the internet, the price drop in mobile data, and the consumer need to be properly informed before making decisions. To harness this consumer need, consider serving contextual videos to users during their research process, as this strategy can greatly assist you move the customer towards your brand, and away from competitors. A stat that really reinforces this point is that “video will make up 80% of consumer online traffic by 2020 (Animoto, 2017)”. We need to create video that adds value for the audience that watches them. Take a step back, move away from selling, and ask yourself: did that content actually add value to the consumer’s decision-making process?
E-commerce is growing 23% year-over-year, yet 46% of American small businesses do not have a website (BigCommerce 2017)
So while it states America, in reality, this statistic is probably mirrored around the world. E-commerce growth and confidence in online purchasing is growing exponentially, yet brands are dipping their toes into the e-commerce world rather than diving straight in. At a growth rate of 23% YoY, it will soon become the norm for purchasing products, and the brands that move first will grab a large share of the wallet.
When it comes to understanding social channels and how they can help you meet your brand goals, it's important to take a look at some research to get the answers. Over time, certain channels have been positioned as the “silver bullet”, and have fallen flat.
Facebook provides the highest social value for B2C (96%) whereas LinkedIn provides the highest social value for B2B (93%) (Smart Insights and Clutch, 2017)
This seems obvious — and is most certainly linked to the nature of the platform, how it’s used, and its targeting abilities — but all too often, we see brands using channels just because they’re there. If the channel doesn’t suit your objectives, your target audience, or help you achieve decent and measurable results, it’s better to not use it at all. Here’s a stat that enforces this: “70% of Instagram posts don't get seen (Independent, 2017)”. Nothing against Instagram, but if you’re posting organically and your posts aren’t being seen, you’d better use that energy elsewhere.
Less than half (43%) of companies with online stores report seeing significant traffic from social media (MarketingSherpa E-commerce Benchmarks 2017)
This has probably got a lot to do with social channels’ algorithm changes, especially Facebook. When a platform decides to turn the dial towards paid advertising and away from organic reach, it’s probably worth your while to follow suit.
Mobile now represents almost 7 in 10 digital media minutes, and smartphone apps alone account for half of all digital time spent (comScore, U.S Cross-platform Future in Focus 2017)
Mobile should be an integral component of any digital marketing plan. Users are consuming information via their mobile devices at an alarming rate, and there are no signs of them stopping anytime soon. The problem is that brands are still falling short on mobile optimisation. It’s no longer good enough to be “responsive”. Content must be optimised for mobile, and where it’s applicable, designed for mobile first. “Users who have a bad mobile user experience are 60% less likely to revisit and purchase from that brand in the future (Smart Insights 2017)”. Keep your mobile experiences top quality, and yield the results these powerful devices have to offer.
Over 205 billion emails are sent every day — a figure expected to grow by 3% each year (Radicati)
Email is not a dying channel, just yet. It still remains one of the most effective ways to get your brand in front of your target audience. Laws like GDPR and other data privacy laws will impact email marketing, but in a positive way for the most part. Email that is solicited can still be very effective — we just need to understand what customers want from emails as a channel of communication. The DMA outlines this as follows:
Marketers are out of touch with what customers want — they see trustworthy reputation (38%) and exclusive content (29%) as the most effective for sign-ups, but consumers want money-off discounts (45%), free samples (35%), and free delivery (35%) (DMA, Marketer Email Tracking Study, 2017)
Providing content that people actually want, to segmented databases of opted-in contacts, will yield the best results and keep email alive as an effective communication channel for a little while longer. MailChimp's stat around segmentation proves this: “Open rates are 14.31% higher in segmented campaigns than in non-segmented campaigns (MailChimp, 2017).”
In conclusion, the statistics chosen for this blog showcase the performance of a wide range of marketing tactics. It’s important to remember to stay contextual, add value to your customers, and ensure that when you set out to weave your brands into consumers lives, you do so in a non-intrusive, value-adding way to yield the best results.The original article was posted by stats company, Smart Insights, and can be found here, along with many more interesting statistics.
If you want to find out more about how these stats can be used to help define your marketing strategy, feel free to reach out to us.