30 Marketing Stats Your Boss Should Know in 2020
It wasn't that long ago that the year 2020 was a distant time set for science fiction movies. Now that it's upon us, do you think the company you work for is keeping pace? Marketing is a game of predicting the future. Is your company staying current with the ways consumers prefer to shop and communicate?
To say smartphones are popular would be a vast understatement. In today's world, they are generally considered a necessity. According to Pew Research, 81% of Americans go online daily, and 28% of adults report being online almost constantly. Obviously, consumers are using their devices for entertainment, but smartphones are also used as a tool for making quick decisions. If your company isn't taking advantage of the benefits of digital advertising, the competition is getting a leg up. Here are 30 marketing stats your boss should know before 2020 arrives.
Digital Marketing Is Key in 2020
As technology evolves, more devices are connected to the Internet each year. Using the Internet to meet potential customers using platforms that they already frequent just makes sense. Taking your marketing strategy online will become more vital than ever in 2020.
- Half of all marketing dollars will be used for online marketing by 2020. This figure comes to approximately $291 billion, equalling the amount spent on all offline advertising combined. (Source CNBC)
- By 2020 Millennials will account for half of the workforce. These workers were the first generation to never be without the convenience of the Internet. For this group, dependence on the web is more likely to be considered a necessity than a convenience. (Source: Forbes)
- 75 billion devices will be connected to the internet by 2020. (Source: Business Insider)
- Investments in SEO will become more important than paid advertising. Currently, 70 to 80% of consumers ignore paid advertisements in favor of organic search results. That number is expected to keep growing. (Source: imFORZA)
- Google is still vital in 2020. Google is responsible for 90% of U.S. searches, so staying current in the language of Google algorithms is a must. (Source: EnGenius Web)
- Nearly half of the worldwide population will be using email by the end of 2020. (Source: The Radicati Group)
- Spending on social media advertising will surpass newspaper advertising. (Source: CNBC)
- The average yield of email marketing reached $44.25 on the dollar in 2019 and is expected to keep growing. (Source: SEO Tribunal)
- Global mobile ad spending is predicted to grow to $247.4 billion by 2020. (Source: SEO Tribunal)
- Instagram influencer marketing could surpass $2 billion by 2020. (Source: ION)
- Email personalization is key, with 62% of recipients opening email because of a personalized subject line. (Source: CR Creative)
Voice Optimization is Vital
As the use of AI (artificial intelligence) becomes more widespread, more consumers are searching the internet without the use of a screen. While SEO requirements for voice search are similar to those of traditional searches, there are some key differences. Consumers adopt a more conversational tone when talking to a "virtual assistant." Will your search terms still get results?
- By 2020, 30% of searches will be completed without a screen. (Source: Media Post)
- 65% of users ages 25-49 speak to voice-enabled devices daily. (Source: HubSpot)
- In 2020, over 90% of cars will be connected to the Internet. (Source: CMO)
- Rapid growth of artificial intelligence (AI) will continue, becoming a $5 billion market in 2020. (Source: Motley Fool)
- By 2020, half of all online searches are predicted to be voice searches. (Source: HubSpot)
Mobility is King
If you help to make up the percentage of Internet users who are online constantly, you likely understand the importance of mobile optimization. As smartphones become more widespread, the attention span of users becomes shorter. Your potential customers are busy. They don't have time for slow loading times or websites that don't work on mobile devices.
- Mobile internet traffic has grown 17-fold in the last 5 years. (Source: Cisco)
- 71% of internet traffic will be from non-computer devices like smartphones, tablets, and connected TVs in 2020. (Source: Networks Training)
- Consumers will expect emails to be optimized for mobile. Over 80% of users delete an email not optimized for mobile, and 3 out of 10 unsubscribe from a list for the same infraction. (Source: Blue Hornet)
Relevant Content Boosts Sales
Digital marketing isn't all about sale prices and great products. Today's consumers expect quality brands to also produce relevant content. A company who has a website but no blog will likely generate less traffic.
- Major brands will be expected to create relevant digital content. (Source: SEO Tribunal) A whopping 84% of consumers already expect brands to produce helpful relevant content.
- Easy-to-read content is a must as 43% of people admit to skimming blog posts. (Source: HubSpot)
- Marketers who prioritize blogging efforts are 13% more likely to see a positive ROI. (Source: HubSpot)
Optimize for Local Searches
If you use a mobile device regularly, you've likely used the term "near me," or something similar, in your searches. You're not alone. As devices become more personalized, consumers depend on them to provide accurate information about local businesses. Ensuring your business is up-to-date on the best way to show up in local searches is vital.
- Local searches continue to grow. 46% of Google searchers are seeking local information. (Source: EnGenius web)
- 72% of local searchers visit a business within 5 miles. (Source: HubSpot)
Viral Videos Build Business
Videos are fun to watch, but they also make sales. Companies who took advantage of humor and relatable stories within the confined space of TV commercials understood the power of video years ago. Taking advantage of the use of video in today's digital advertising world multiplies that power exponentially.
- YouTube is the second most popular search engine in the world. (Source: Forbes)
- After watching a video online, 64% of consumers are more likely to purchase a product online. (Source: HubSpot)
- Only 20% of people will read text on a page, but 80% will watch a video. (Source: HubSpot)
- 79% of Internet users have a YouTube account. (Source: Oberlo)
- 100 million hours of video are watched on Facebook daily. (Source: HubSpot)
- Social media and video viewing are the two most popular online activities. (Source: HubSpot)
Simply put: If your business isn't harnessing the power of digital marketing, you're losing customers. Sometimes, all you need is the right approach. To learn more about revolutionizing your business with digital marketing contact Ascend Inbound Marketing for details.
Anne Shenton is Agency Director at Ascend Inbound Marketing. Her primary focus at Ascend is to deliver quantifiable results to our clients in the form of leads, conversions and increased revenue. Anne holds a Bachelor of Science in Management from Georgia Tech and a MBA from the University of Florida. Read more about Anne here.