Key Facts And Figures In Advertising
Advertising has changed a lot over the years. TV commercials and billboards were enough to grab customers’ attention in the past. But now, people have more options for advertising. Besides, the traditional methods are no longer as effective as they once were.
Digital advertising is on the rise because companies can create ads tailored to their target audience with less money than ever before, which is the first pillar for creating a good advertisement.
The internet provides an easy way for businesses to connect with customers - but there are still some key facts and figures you should know before diving in headfirst!
Traditional Advertising Vs. Digital Advertising
When it comes to traditional advertising, TV commercials and billboards are the standard methods. But with the rise of digital media, businesses can now target their customers more effectively through online channels like Google Shopping Ads, Facebook Ads, and Instagram Ads.
Below, we compare some of the key advantages and disadvantages of traditional advertising vs. digital advertising:
Traditional Advertising
More expensive than other advertising methods
Reach less targeted customers online
More problematic for little known companies to target customers online
Less engagement from customers who aren't already aware of a product or service
Customers might not be interested in the advertised product or service.
Digital Advertising
Less expensive and more cost-effective for companies to create advertisements
Easier and cheaper for companies to test different advertisement types because they can quickly change their ads based on what performs best
Reaches a wide range of highly engageable people
More targeted
Can quickly change ads based on customer feedback so that customers will see more relevant ads with company products and services
Only targets customers that are interested in the company's product or service.
As you can see above, traditional advertising methods are no longer as effective with digital marketers today because they cannot target specific audiences as digital media does. And although some companies may not have the budget or resources needed to create successful ads, it's important to note that all businesses can get started with digital advertising by using cost-effective methods like Google Shopping Ads.
Key Facts And Figures Of Digital Advertising
There are some essential facts and figures that the business owner needs to keep in mind to make the best out of digital platforms when it comes to digital advertising. The information below outlines some of the most important statistics for businesses looking to succeed with their online ad campaigns:
Facts And Figures Of Google Shopping Ads
Google Shopping ads may cost anything from $1 per day to more than $100 each day, depending on how much exposure you want the products you are popularizing.
The average conversion rate (CVR) for Google Shopping Ads is 1.91%. The CVR for Bing Ads is 1.74%.
Because clicking images at the top of search results is possible with Google Shopping Ads, you may target shopper-specific search queries with clickable pictures.
Facts And Figures Of Facebook Ads
Over the last several years, Facebook's user base has expanded by more than 300 million people. At the moment, there are 2.74 billion monthly active users on the site that digital marketers can target.
32.4% of Facebook's audience is aged 25 to 34. Only 4.7% of Facebook's audience is 65 or older, and just 5.8% is 17 or younger.
Facts And Figures Of SEO
70% of an average customer’s first impression of your business comes from a search engine
Although only about 61% of Google queries originate from mobile devices, mobile phones drive most internet traffic.
On average, companies that rank first on Google see a 34% increase in traffic and an impressive 50% decrease in the bounce rate of their sites.
At present, there are over 200 factors that can influence your search engine rankings - but content quality is always one of the most important ones to consider when creating search engine optimization (SEO) strategies for your website.
Repurposing content such as frequently asked questions (FAQ) can boost organic traffic by 106%.
SEO can increase a company's conversion rate by 14.6% if used correctly.
Facts And Figures Of Email Marketing
Over the last year, 78% of marketers have seen an increase in email interaction over one year.
Since the epidemic, more than 40% of marketers have reduced their email budgets, making it easy and affordable to conduct email marketing.
The revenue of marketers that use segmented campaigns can increase up to 760% over time.
E-commerce, retail, and consumer goods and services companies customize their emails based on gender, race, ethnicity, or other variables to increase email open rate and engagement.
Final Thoughts
In conclusion, many people nowadays are more inclined to spend money online than in a physical store. It makes sense that digital advertising is the best way for businesses to advertise.
Nonetheless, whether you're just starting with digital advertising or you've been utilizing these techniques for a while, it's essential to stay up-to-date on the latest facts and figures. Understanding the statistics associated with each method can create more effective campaigns that reach your target audience and produce better results. Want to learn more? Check out our other blog posts!