Let’s dive into the pity observations of digital marketing statistics of 2023-24, worth for your business elevation and revenues. On an impressive note, let’s know that Google is top dominating the search engine. SEO drives most of the business with a $80B market share and strategic budget allocation provides a greater inclination of the market for businesses in 2023. Thus we can say that digital marketing digital marketing will be a driving force for every business in 2023-24 coming years.
If you are a business leader, you’re aware of the utmost significance of digital marketing efforts. It is high time for your business to succinct at the top without much deviation from any downfall in a competitive marketplace. Success is possible for your brand when you hire a digital marketing agency for your business and align your brand solutions and productivity with digital marketing solutions.
For a marketer expert the customer’s lifetime journey over the digital channels is crucial for your mathematics. With the blog, you can identify in detail the true aspects of digital marketing solutions you could involve in your practices to businesses to leverage their outcomes.
First, understand the negative impacts of traditional marketing and why only the digital marketing landscape provides significant answers to obsolete practices.
Negative Impacts Of Traditional Marketing
66% of Marketers believe that performance marketing is a more generic way for business profits, and drives valuable customers, with trackable analytics rather than the traditional way of marketing. Hence the outdated source of advertising is not convincing and effective for marketers.
Print media, TV, and Billboards, all three-way belong to traditional marketing. Yet they were impactful years ago in the manual marketing efforts but are not so reach value. Over the last decade, and in FY2023, the global impact of digital marketing over traditional marketing has surged to a remarkable height.
Factor where traditional marketing lags your branding awareness and profits.
- Time-consuming
- Impact on global warming
- Results are not easily measured/trackable
- Limited Reach
- Less personalization than performance marketing which shares 85% of relevant and customized advertisement for organizations.
Consumers are likely to be available on the digital market, therefore the native traditional way of marketing is facing a decline. The global revenue from television market advertising has dropped to $141 B in the year 2020, especially after the pandemic.
The TV penetration has dropped to 10% with the influence of social media and digital marketing solutions. Consumers are influenced by the importance of live video streaming and social media. Since there are major downfalls of traditional marketing, it would be a great practice for brands to escape this method and incline toward better practices like digital marketing.
The biggest advantage of performance marketing over any traditional marketing is that it reaches to masses, which can convert into valuable customers.
Top Digital Marketing Stats 2023-24 You Should Know
More than 2.14 Billion people are predominating digital platforms to buy goods and services which speaks about the power of digital marketing. 88% of businesses are influenced by this contemporary way of marketing via digital platforms rather than traditional marketing.
1. Social Media Marketing/Advertising Platforms
Social Media is actively been the number one participant with $992B in sales in 2022 for successful results inclined for business value solutions in the industry. It is without a doubt, the strongest marketing source for multiple business verticals to meet with their respective strong and ideal customer base.
The performance marketing of any business can be measured on social media with tools and metrics. For example, influencers, product recommendations, trustable goods, and discounted prices, are the top promotional ways to reach consumers in the least time. Performance marketers involve KPIs and metrics to trace audience psychology and segment the consumer base likely to shop.
Source: Hubspot
Social Media is the number#1 marketing channel for generating business ROI as believed by 91% of Businesses. The amount of sales has increased from 2022 to 2023 from 59% more.
In fact, product discovery and precise audience targeting over social media channels are insightful for a frictionless shopping experience for consumers. Besides this, 17% of consumers brought products from product discovery straight while 25% brought them after a recommendation from an influencer.
The top social media channels in the list are as follows:
a. Facebook/Meta
Facebook, now Meta, is the number one social media platform. Notably the platform has versatile features for businesses to gain audiences’ attention and maximize their revenue ROI. With strategic marketing tools, Facebook has unprecedented opportunities for Brands. For example, meet specific audiences, increase social media buying, and website traffic, and convey business alignment and outcomes.
b. Instagram
Instagram is the third most popular social media platform in the world. The platform provides a direct connection of businesses with audiences using tools and techniques. These digital platforms are the center of every type of business for meeting business values with Posts, Stories, Reels, and Content.
More than Two billion active users on Instagram with the age of 18 to 24 years are sharing 31% of the largest proportion. With the precise level of targeting, the business has a large scope to communicate with its audiences and aware them of products.
c. Pinterest
Pinterest platform is the top digital marketing platform used by businesses to leverage their business awareness and reach the desired audiences. Using visual content like pins on pinboards, Pinterest allows your business to meet its targeted audiences with branded content using powerful image sharing. Ecommerce platforms can use the foundational platform to reach a wide audience via different targeting options.
d. LinkedIn
The LinkedIn platform allows quality business leads, relevant traffic, interaction with businesses, acknowledgment of your network, and meeting with industry experts. It is a powerful platform that helps companies to make and share their business identities and vision.
Popular Social Media Channels Worldwide in 2023:
Source: Statista
4 Pillar of Social Media Marketing
| 3 Billion active monthly users and 55% of the market share available in Q3 2023. | 2 Billion active monthly users. | 97% of B2B marketers produce their business outcomes on LinkedIn, which costs 28% less cost than Google AdWords. | It is a powerful search function for image searching and other forms of visuals. |
| Facebook’s annual revenue worldwide is figured out as $113 B, suspects is a powerful platform for every marketer. | 55% of digital marketers use Instagram as their favorite social weapon for reaching specific audiences with advertising and campaigns. | 67 Million companies are available for business on LinkedIn to meet with their industry-aligned clients and leverage their businesses. | 3.5 Billion snaps are created every minute. 93% of Pinners check pins to make a buying decision. |
| Live shopping experiences, discounts, and much more on Facebook invite customers to shop often. | More than 200 Million Business accounts are created on Instagram. | Social posts, profiles, groups, ad reporting, custom audiences, sales monitoring and navigation, etc managed using LinkedIn tools. | 100 Million monthly active users are on Pinterest for searching creative pins for their work goals. |
In the future, social media channels will be full of daunting opportunities for organizations, to use advanced practices from performance marketing. Clearly, social media is your one-stop business tool for revenue leads and social promotions.
2. Search Engine Optimization SEO
Search engine optimization is the generic method where businesses meet with their aligned audiences and generate traffic. In 2023, SEO practices are very convincing from a business perspective. 53% of organic traffic originates from SEO builds a strong trust and inclination for brand image. With SEO, the business can understand and deliver what audiences are asking on a search engine like Google. Without a reason, this way the brands can save extra costs on any worthless and unplanned advertising.
a. Content Marketing
Content marketing is an extreme part of digital marketing efforts. 87% of sellers used user-generated content which is in demand where audiences are inclined to product services with an understanding of the brand’s purpose.
With the right content, the B2B or D2C or any kind of business connects with their audiences hand-in-hand. The content acts as a playful part of generating reliable leads and performance to your business ROI. The measuring of ROI helps generate valuable revenues with organic mediums, ad spending, and performance. The right mix of content with proper research, is centric on market needs, future trends, current market focus, and consumer attention; when all the factors work, then the content created will no doubt work the best.
| 37% | Impactful, relative, and research-driven content. |
| 36% | Attention to keywords. |
| 56% | Engagement rate when the content is audited and republished. That helps to drive the right rankings and traffic. |
| 62% | Effective content marketing than traditional marketing gains 3x more leads. |
4 Pillars of Content Creation for Marketing
| Blogging | Content Strategy | Video | Audio |
| 15% of marketers utilize blog posts for marketing efforts. | 41% of performance marketing organizations believe in the global impact of content strategy for their sales tactics. | 42% Likely to invest in video content to trace their audiences straight to their digital platforms. | 25% of digital marketers are willing to invest in audio formats of content like podcasts and Spotify. |
| Short articles ranked for B2B content top 3 rankings in 2023. Of that, 54% of decisions are made by businesses. | 50% of marketers who believe in content strategy creation help them in leading impactful results. | 31% of Short videos are used for various marketing practices by digital marketing experts to leverage their ROI on social media through branding. | |
| Live-action videos are commonly produced videos making interesting interactions with consumers. |
Tip: The way to create the right content for generating valuable outcomes is possible when the content is clear, concise, visually engaging, and downloadable. It should convey pain points, challenges, and solutions in easy-to-understand language.
b. Email Marketing
When you have an ecommerce platform, email marketing is one of the top variants when you can reach your consumers in real-time and pitch them for buying. According to Forbes, Drip is a popular email marketing tool with ready-to-use plugins for the best interaction with audiences.
Source: Litmus
It is clear from the above graph that for every dollar spent, the ecommerce businesses get a return of 45 through email marketing. Isn’t it a great deal to trigger your audiences with personalized emails and interactions to market revenue and profits? So the top parameters where the marketing professionals made efforts to target the right audiences on platforms are A/B testing, dynamic content, animated GIFs, live content, etc.
| No. of email users | 4.37B in 2023 and expected to grow to $17B in 2027. |
| Marketing uses an email platform | 69% |
| Every $1 spent | ROI $40 return |
| Higher ROI parameters | A/B testing, QA, etc results in a 28% ROI increase |
| Metrics work for email marketers to track | Click-through rate, open rate, lead/conversion, traffic, etc |
| Most effective campaigns in 2023 for businesses | Subscriber segmentation is 78%, and message personalization is 72%. |
In 2024, email marketing efforts cater high ROI solutions to businesses. The growth rate for successful marketing goal alignment via emails is 87% which is the reason why it is the second-best platform after social media.
c. Video Marketing
In 2023, YouTube short videos were the top trending thing on search engine platforms or social media. Notably, it is one of the highly effective platforms to produce video content according to audiences’ tastes, choices, and demands. It is a convincing platform to reach, learn, and nurture audiences and convert them into consumers.
Have you been to any viral video last night? How video marketing helps brands in offering insightful knowledge of their services. Results in more convincing purchases!
| Short-form video | Video Analytics | Youtube | Product Video |
| The short form of video is applicable for the highest gross revenue for every business. | 87% of online marketers consume video content.
49% of marketers grow their revenue with video content compared to non-video marketers. |
The second most popular platform after Google and number one for grossing video content over the internet. | 96% of consumers believe that an explainer video about a product helps them better understand. |
| For less than a minute, users interact with video which results in 70% of successful brand awareness. | Smartphones have become a vital source of video content. 1.5x People are likely to consume video on smartphones more than any computer, or tablet. | YouTube has been a stringent tool for audiences for buying decision-making. 2x people are willing to buy after seeing any product on video. | In shopping habits from brands, 64% purchase after watching product videos. |
d. Influencer Marketing
Marketers know influencers are their saviors, as a reason they love them. 41% of marketers love influencers for the engaging influence they provide to their potential audiences. Influencer marketing depends on bridging connections with influencers and market sales via them. Thus influencer marketing is the smart choice in getting ideal sales.
e. Google Analytics (Key Metrics of SEO practices in 2023)
You have mindful questions about your website’s digital presence, we know it right. With Google Analytics you can measure the online significance of your brand and track whether relevant audience snatch on your website, or what is the condition of your website. Having a mindful idea of competitors, with Analytics is possible.
| Market Share | Key Metrics | Google Analytics 4 |
| 71% of companies rely on Google Analytics for better analyzing and monitoring of their business data. 26.8% of the market share has been consolidated by Google Analytics. | Total users, new users, active users, engagement rate, bounce rate, conversions, etc are the top parameters for measuring Google Analytics 2023 and the coming years. | It comes to understanding better customer behavior with advanced data inclination and emergence. |
| 38 M websites use Google Analytics for tracking and collecting data on the web and measuring their performance. | New version of Google’s website analytics service for measuring the performance of your business website. |
3. Performance Marketing
Impulsive decisions can’t be made in a day, it takes hardman-ship and effort. A similar is possible for your brand with performance marketing. When you have performance marketing you know how to trace your digital analytics and it’s viable. This kind of marketing helps marketers identify where the businesses are lacking and how to overcome it.
How about tailoring personalized solutions with your business solutions? 89% of marketers believe in the fact, that personalization is the staggering factor in generating prominent ROI.
Performance marketing associated with the results of paying for specific decision-making? Shift your budget with the right keyword which drives your business to the right sales. In performance marketing, you keep on iterating with campaigns constantly and measure the results.
a. Lead Generation/PPC
Source: DemandSage
It is impeccable to know, that inbound customer experience produces an exceptional gain in leads. The companies/organizations that nurture leads with personalization trigger 50% of the intensity of sales. With the lead generation process, the business actually knows and estimates the pricing sale value of their products and services in the market. Starting with meeting desired audiences and connecting with them to convert them into customers.
Marketing automation will be the future of digital marketing where businesses collect data, interpret it, and break it down into meaningful insight and analytics. 92% of B2B marketers utilize automation for leading their business venture profits.
Marketing analytics helps digital marketing professionals to identify whether they pertaining right metrics or not. It also helps them to know what is the future of their business and where their competitors are approaching and involved. Analytics induce quality and how to target audiences with high quality.
Sales Statistics
Marketing efforts are interconnected with sales generation in a business. The businesses advocate their selling tactic with highly proficient techniques involving better reach to customers with defined margins for their industry growth.
| CRM | Social Selling |
| For intelligent customer end-selling relationships CRM is used by 79% of professionals. | The Highest-paid channels are social media channels like Facebook, Instagram, and Google search advertising. |
b. Marketing Technology
The marketing technology helps you understand the concept, and how you reach your potential audiences. It is an important question to know the journey of your customers on your website. How the audience comes to you, what they consume, and how they leave you.
In measuring the insightful journey of consumers the brands can ask for marketing technology with digital marketers.
| Messaging Apps | Mobile |
| 25% of marketers and 65% of customers are situated on messaging apps. (Source) | 80% of people download apps of companies whom they trust with 50% mobile market share. |
| WhatsApp, Telegram, and Facebook messaging are the top chat messaging apps used by consumers. | 47% of marketers believe in experiential shopping experience as the future of businesses and brands. |
c. Native Advertising/Sponsored Content
Native advertising practices help to meet likable audiences and promote the brand to generate nurturing leads and conversions. Let’s look more at how businesses comprehend native advertisement efforts to connect with every audience at the local level.
| Display Ad | PPC Ad | Video Ad | Adblocking |
| Mobiel advertising spend is projected to surpass $327B in the 2024 market and more in coming years. 51% of marketers use global digital spend. | Average cost per click spent on real estate ($2.3), home servicing ($6.4), software industry ($3.8), and medical industry ($2.6). | YouTube is the biggest video advertising platform with impacts 4x than any other similar platform. | 763M devices are globally tracked. Hinging privacy should be properly done by marketers. 44% of users declined the idea of hidden blocking and agreed with third-party cookies as per Google’s policy structure. |
| The most popular monetization method used by digital marketers. | Video advertising has annual spending of $191B which will be projected to be $241B in 2028. | Marketers keep third-party cookies as a leading tool for publicizing and controlling digital content. |
d. Google Ads and PPC
Source: Techreport
96% of the revenue outcomes have been generated by Google Ads.
When you know you are online, your audiences are online and you know where you want to reach, then Google Ads are your armor. 80% of online customers are likely to see location-customized ads more than anything.
4. eCommerce Stats
Intended campaigns on e-commerce platforms generate higher economic growth for businesses. As per Rakuten Insight, 71% of shopping sales during the holidays or big occasions are intact on social media platforms which results in higher revenue outcomes. There are likewise other examples on social media platforms where digital marketing tactics allow diversifying solutions to the industries.
Impact of Digital Marketing on B2B
Source: Drewl
There is no doubt that B2B companies are meticulously top-performing companies in the world.
Customer journey and Marketing funnel both are important parameters to understanding immersive knowledge of the industry. Along with the B2B marketers gain many profits by social paid ads in discovering fastly. In the current economic uncertainty, B2B businesses understand the importance of digital marketing techniques.
| Content marketing | Research, case studies, and blogs with images are the most trusted among users. |
| UX and SEO | UGC content and core vital web terminologies help in higher rankings. |
| Multi-channel marketing | Multiple touch points helps ROI with 2x in 2021, for brand awareness and revenues. |
| Customer retention | Repeat customer sales- 60-70% while new customer sales- 5-20%. |
| Mobile First Marketing | Single window marketing should be done for mobile platforms. Mobile platforms are the biggest source of revenue generation for brands with unique standalone marketing practices. |
Future of Performance Marketing 2024 Businesses Can Use
At the end of the day, digital marketing strategies and methodologies paddle businesses in the right direction for their success and revenues. Digital Marketing Techniques allow businesses on full control and aim for high-end traffic, brand awareness, conversions, leads, and revenue generation. 80% of digital marketers rely on social media ads for their presence online and to boost their brand to the next level. Trust among audiences is very crucial for businesses which is possible with digital efforts online. Content, SEO practices, performance marketing, email, video, influencer, lead generation, SMO/SEM, google ads, ppc practices, etc all contribute to upscale brand profits in the year 2024 and more.
The digital marketing landscape in the coming years will be inclusive of top technological parameters to revamp their obsolete and untouched horizons. 6 major trends will accompany shortly for brands with digital marketing practices.
Source: MarinOne
2-5 buying personas are a good number inclined on quality buying experience for consumers.
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Personalization Marketing
91% of customers are likely to shop from brands that give them a personal feel and memories of them.
Personalized marketing will become a new asset for the brand’s future. Every brand whether fashion, healthcare, beauty, or real estate should identify the tangible market and what their existence be in the coming future. Do their business solutions emerge with the needs and demands of the market? Personalization is one step above traditional marketing to deliver a personal level of experience to customers. Such a strategy safeguards your product promotion in a narrow audience so that they are accompanied by hyper-local and personalized shopping. Experiential retail outlets and online stores are giving more hype to the structure of local-level digital brands in the year 2024.
2. Emergence of Voice Search with SEO
In the US alone more than 200B users find anything on the internet with voice search tools. In 2024, marketers focus on voice search impeding with SEO techniques. The marketers entail on long tail keywords for SEO practices on voice search to cater top emerging solutions to the businesses.
3. Native Advertising
Native advertising will increase in figures in 2020-2024 from 370%. Native ads (not exactly display advertising) create a visual experience for users through highly native content and ads. The audiences are more likely to open native ads than traditional ads, they won’t mean to distract users hence they entirely blend with the webpage.
4. Social commerce
Social media channels with $724B worldwide revenue are becoming mainstream in ecommerce ecosystems. Top social media platforms like Facebook, Instagram, and WhatsApp business are the leading shopping business and revenue-generation platforms. These platforms deliver fast product discovery to relevant audiences with effective customer segmentation. Thus we can assume without a doubt that social ecommerce is the next big thing possible with digital marketing in 2024.
5. Privacy regulations
In 2024, businesses are subjected to participate in privacy regulations than ever before. On digital platforms, customers are vigilant to know the handling and controlling of data. The brands and businesses who consent to consumer data security and privacy are entailed for a competitive edge over others. Data breaches, data hacking, and data discrimination are the top three data privacy consents that should be driven with vital concern and care.
6. Rising role of Sustainable Marketing
Consumers are moving towards eco-friendly products than before. Thus businesses need to encounter sustainable solutions to consumers to drive higher profits to their businesses. A conscious consumer is tending for sustainable and personalized shopping. When you a brand traction for a loyal customer base then without a second thought you achieve new business heights.
Conclusion
In concluding the initial question, ‘Are Digital Marketing Statistics 2023-24 Worth The Investment For Businesses’? Yes, it is! In this blog, you take a close picture of digital marketing statistics in 2023 and the coming year in detail. Hope you understand how digital marketing trends have been evolving significant paradigms to a canopy of domains that bring huge change to increase brand awareness, conversions, and revenues.
If you are a brand, business, or entrepreneur, you should emerge these above trends in your business promotion and faster snatch to potential audiences. It is commendable when you rely on an expert digital marketing agency like Verve Online Marketing. The digital marketing company is known for providing exceptional digital solutions including SEO and PPC services to help them cater excellent services to potential customers using customer segmentation aligned with personalized campaigns.
If you are a digital marketer then adopting the above trends will definitely foster you with faster results. Always remember, digital marketing is not only about spending your money until it is spending your budget aligned with business goals in an intelligent way with advanced marketing insightful KPIs and metrics. So connect with Verve Online Marketing for your brand digital alliance and promotion.
