2020 Digital Marketing Benchmarks
Digital marketing changes and evolves at a rapid pace. Because the world of digital marketing is so dynamic, it's paramount that businesses stay one step ahead of the game. One of the best ways of keeping up with the latest marketing trends is by reviewing the latest marketing statistics.
With that in mind, here are the top benchmarks and statistics in digital marketing from 2020.
Search engine optimization (SEO) is an essential part of any business's digital marketing efforts. The right SEO strategy will help you boost your website's visibility and ranking, drive more traffic and leads, and ultimately grow your business. The following statistics will enable you to elevate your SEO game.
Page speed has a tremendous impact on conversion rates, with the first five seconds being the most important. Conversion rates drop by 4.42% with every additional second that the user has to wait for the page to load.
According to one survey, 51% of consumers do Google research before making an online purchase.
Google reported a 900% growth over two years in mobile searches that include keywords like "near me today/tonight."
39% of mobile users are more likely to use a brand's mobile app to browse or shop because they consider it simpler and more convenient.
The following benchmarks and statistics will help you determine which strategies will work best for your company:
Long-form content performs better than short-form content. Articles that are around 3,000 words long get three times more traffic, four times more shares, and 3.5 times more backlinks than shorter articles.
Updating old content was the most efficient content marketing strategy for 51% of the companies surveyed by SEMrush.
Video has become one of the most used content formats in content marketing, with 87% of marketers claiming that this format has helped them increase website traffic.
37% of people in the US said they've listened to a podcast in the last month.
These numbers will help you understand how consumers nowadays are thinking about online advertising and what you can do to improve your ROI.
One report found that the average CTR (click-through rate) in 2020 was 2.27%. You should take this number with a grain of salt, though. The benchmarks for a financial site will be entirely different from those of an eCommerce site, for example. Looking at industry-wide benchmarks is similar to comparing apples to oranges as the data is not always applicable to your own specific situation. Instead, you should be paying attention to your organic traffic and use that as a benchmark for judging the success of your paid advertising efforts.
CPC (cost per click) rates vary greatly from industry to industry. The average CPC in the medical industry is $2.62 while the legal one is $6.46.
Consumers tend to pay more attention to video content than written content or podcasts. That's one of the reasons why video ad spending is expected to increase by 4.9% between 2020 and 2024.
The average ROI (return on investment) for digital advertising has been benchmarked at 3.62x. That means that for every $1 spent on online ads, you want to generate $3.62 worth of income.
Over to You
Keeping up with the latest digital marketing trends can be daunting, but it's necessary in today's business environment. Hopefully, these benchmarks will give you a better idea of how to tweak your marketing efforts to reach more prospects.
Want to get the most out of your digital marketing in 2021? Let us help. Contact us at 866-530-2729 today.