6 Scary Stats to Make You Change Your Marketing Strategy
With every passing year, new trends and shifts in marketing practices emerge. That phenomenon has only accelerated in the digital era, but too few businesses do enough to keep up with these developments or change their marketing strategy accordingly. Many business owners and marketers will stick to tried and true methods until something breaks. Established marketing ideas often still work, but failing to adapt them for the modern world - or ignoring new marketing channels because - will eventually put you behind competitors. So, why not get ahead of the game before it gets ahead of you? If you’ve been on the fence about pushing forward with changes - or simply haven't found the time to look at new channels - now is the time to get motivated. With that in mind, and because Halloween is right around the corner, here are six scary stats that should convince you to adjust or change your marketing strategy!
6 Scary Stats to Drive a Change in Marketing Strategy
Stat #1: Marketers Using Video Grow Revenue 49% FasterAccording to a 2015 study by Aberdeen/Vidyard, the acceleration of sales for video vs. non-video marketing users is close to 50 percent and rising. With the rapid adoption of video on social media and the astonishing capabilities of today's smartphones to produce HD quality results, it's likely that the figure will be far higher this year. Other studies find that including video on your website (and other marketing channels) increases the likelihood of conversion by at least 61 percent. We covered the potential of video marketing earlier this year and these stats only underline the fact: start experimenting with video now. When the trend really takes off, you'll be ahead of most of your competitors.
Stat #2: 30% of Consumers Start Their Search on AmazonA 2013 Forrester report revealed that 30 percent of consumers turn to Amazon first for product research. That's almost one-third of everyone who could buy your product, only enhanced by the fact that one in five Americans now hold Amazon Prime membership. Despite this fact, many businesses with an online retail presence stick to selling on their website. If you run an e-commerce store, consider how listing on Amazon to claim your share of that traffic would work. While selling on Amazon comes with its own challenges and restrictions, such as competing with other recommended products, fluctuating reviews, and listing optimization, it's important to realize that Amazon has built a strong brand that people trust. Consider extending that trust to your own brand by listing items and exploring how Amazon can work to your marketing advantage.
Stat #3: 92% of North American Consumers Rely On Reviews to Evaluate BusinessesReviews are everywhere online, and stats now confirm that consumers are paying attention to them. BrightLocal ran a survey that revealed the majority of consumers rely on online reviews to evaluate a business or product. What is the significance of this? It simply means that if you have your business listed online, it’s important for you to manage your reputation. You want to dispute bad reviews, engage with customers that have problems, and build up positive feedback. You cannot just sit back and assume that you have a positive reputation or hope that customers will take the time to say nice things. Reputation management should be built into your marketing strategy to build and enhance brand awareness online. Read our advice on getting a five-star reputation to get started. [search-tag]
Stat #4: 80% of Internet Users Search on a Smartphone, As Google Adopts a Mobile-First StrategyIf Google is doing it and your business has any online presence, you know that it's time to change your marketing strategy to keep up! The search giant recently announced that its search advertising network Adwords will shift to a mobile-first focus, encouraging everything from mobile-optimized websites to enhanced listings on maps for local businesses. More and more people rely on their mobile devices as the main way to access the Internet. As a result, they are doing more product research, comparison, and even purchasing via their mobile device. That means that platforms like social networks and e-commerce sites have followed suit, leaving marketers to learn and adapt to this new mobile-first environment. With that in mind, marketing with smartphone and tablet users in mind is not only important now, it should be one of the first things you consider as you plan out a promotional campaign.
Stat #5: Users Spend 90% of Their Time in AppsFollowing on from that mobile focus, analytics firm Flurry revealed that 90 percent of a user’s time spent while on a mobile device occurs within apps. That leaves mobile browsers a distant second and prompts some questions as to where that mobile-first marketing budget should be spent. While much of the meaningful research and decision-making inevitably still happens within the walls of major platforms like Google, Amazon, and Facebook, there is a place for your own mobile apps among Consider the kind of apps and content you can create for your target audience. Apps provide many engagement functions, from push notifications to device personalization. For some businesses, an app might perform better than other digital channels for staying in touch with your audience and customers.
Stat #6: Global E-commerce Sales Will Approach $2 Trillion in 2016The global expansion of e-commerce isn’t showing any signs of slowing down. Expected to pass $2 trillion next year, the action really is online for most businesses nowadays, whether that's selling directly to the customer on your site or providing the info and encouragement they need to make a purchase offline. What gets overlooked in much of this expansion, however, is the potential for cross-border commerce and marketing. A significant portion of the online retail marketplace, which will soon account for around 15 percent of all sales, comes from Asia. The Asian market will also have the biggest growth for many years because it isn’t as mature as the western market. eMarketer projects that the figures will grow by 31.5 percent over the next five years. Growth in countries like China, India, and South Korea, make it worth considering a marketing strategy for the top e-commerce growth countries around the world. If your product or service can be used in areas outside North America, there has never been a better time to connect with consumers in other countries.
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