Advertising spend will rise dramatically in 2020, making the digital marketing landscape more competitive than ever. To cut through the noise, marketers are creating personalized, omnichannel campaigns. However, it can be difficult to execute these campaigns, especially with mounting concerns about third-party data privacy. In an environment where every conversion counts, informing your marketing strategy with first-party data from inbound phone calls can be the difference-maker.
Below, we’ve compiled a list of digital marketing statistics you need to know as you develop your strategy for 2020.
Digital Advertising is Getting More Competitive
1. Global ad spend will reach $605 billion in 2020. This is a 4.2% increase from 2019 (Source: The Drum).
2. By 2020, businesses will spend $110 billion on digital advertising in the US. To put this statistic in context, businesses will spend more on digital advertising in the US in 2020 than on TV and print ads combined. It’s a powerful testament to the importance of digital advertising in the modern marketing mix (Source: eMarketer).
3. The average cost per action (CPA) is $49 for paid search and $75 for display ads. These numbers help illustrate how competitive digital advertising can be for many industries. The stakes for digital have never been higher, and neither has the pressure on marketers and agencies to optimize campaign performance to win more customers at lower costs (Source: WordStream).
4. Global social media ad spend reached $84 billion in 2019. This was the first year social media spend outperformed print ad spend (Source: Zenith Media).
5. In 2019, US Facebook ad spend reached $25.56 billion. This represents a 107% increase from 2016. Despite emerging competitors and Facebook’s recent controversy, the competition continues to heat up on this platform (Source: eMarketer).
6. In 2019, US LinkedIn ad spend reached $1.02 billion. This is a 40% growth in ad spend since 2016. LinkedIn is quickly becoming a staple advertising channel for B2B marketers (Source: eMarketer).
Mobile Advertising is Getting More Saturated
7. Mobile is projected to account for 30.5% of global ad spend in 2020. This is a 59% increase from 2017 (Source: Zenith Media).
8. Expenditure on mobile advertising is forecasted to more than double desktop spend in 2020. As consumers take on a mobile-first mindset, digital marketers are shifting their budget accordingly (Source: Aumcore).
Marketers Are Using Ineffective Strategies
9. Only 61% of marketers believe their marketing strategy is effective. Even though many marketers doubt their strategies, they’re still pouring massive spend into digital advertising (Source: HubSpot).
10. 40% of marketers say proving the ROI of their marketing activities is their top marketing challenge. Despite allocating large portions of their budgets to digital ads, many digital marketers are unable to fully gauge their results (Source: HubSpot).
11. 80% of marketers report their lead generation efforts are only slightly or somewhat effective. Lead generation is another challenge for digital marketers—especially when they fail to track and optimize every phase of the customer journey (Source: BrightTALK).
12. 22% of businesses are satisfied with their conversion rates. Driving leads is only half the battle—in many cases, leads can fall through if sales agents aren’t fully equipped to handle them (Source: Econsultancy).
13. 42% of B2B marketing professionals state that a lack of quality data is their biggest barrier to lead generation. The modern customer experience is fragmented across numerous channels, making it difficult to gain a holistic view of the customer journey. With higher quality, more actionable data that ties the customer journey together, marketers can make smarter optimizations (Source: BrightTALK).
Omnichannel Personalization Is Driving Better Marketing Results
14. In a recent study, omnichannel campaigns saw an 18.96% engagement rate, while single-channel saw just a 5.4% engagement rate. Consumers own more devices than ever before and often bounce between channels during the purchasing process. Marketers need to keep this in mind as they develop their campaigns (Source: ClickZ).
15. Omnichannel campaigns produce a 250% higher rate of purchase frequency than do single-channel campaigns. Keeping your brand top of mind across numerous channels will drive more revenue (Source: ClickZ).
16. Customer retention rates are 90% higher for omnichannel campaigns than for single-channel campaigns. Customers are more loyal to brands that engage with them across channels (Source: ClickZ).
17. 80% of consumers say they are more likely to do business with a company if it offers personalized experiences. If you don’t personalize consumer experiences, you’ll be leaving revenue on the table (Source: Instapage).
Marketers Can No Longer Rely on Third-Party Data to Inform Personalization
18. 81% of marketers are worried that their use of third-party data could raise privacy concerns. In the wake of the Cambridge Analytica scandal, as well as data privacy regulations like GDPR and The California Consumer Privacy Act, marketers are worried (Source: eMarketer).
19. 82% of marketers plan to increase their use of first-party data. Since third-party data presents privacy concerns, marketers are tapping into more of their internal data to inform targeting and personalization (Source: Signal).
Capturing and Leveraging First-Party Data from Consumer Phone Calls and Can Give You an Edge
20. Mobile ads drove over 162 billion phone calls in 2019. It’s a common misconception that, because the world is becoming more digitized, phone calls have lost their importance. This statistic proves that mobile ads and click-to-call features are driving more calls to businesses than ever before (Source: BIA/Kelsey).
21. Calling is the most popular next action for many consumers running Google searches. It is especially common for consumers searching for accounting, hospitals, dentists, and HVAC repair to place a call (Source: LSA).
22. 28% of people who perform a local voice search go on to call the business. In addition to digital ads, voice searches are driving a wealth of inbound calls. Calls are the most popular action after a local voice search. The seamless transition from voice search to phone call—whether on a smartphone or smart speaker—makes this option especially desirable (Source: BrightLocal).Source: BrightLocal
23. Calls convert to revenue 10-15x more often than web leads. Inbound callers have a high purchasing intent, and they’re usually further along in the customer journey than someone who fills out a web form (Source: BIA/Kelsey).
24. Callers convert 30% faster than web leads. People often call because they need to immediate assistance—they don’t have time to fill out a web form and wait around for a response (Source: Forrester).
25. Callers spend, on average, 28% more than web leads. In many cases, callers are the most valuable leads—this is a channel marketers cannot afford to ignore (Source: Forrester).
To learn how data from inbound calls can boost your marketing ROI, download our Marketer’s Big Book of Call Tracking Success Stories.
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