Today we’re going to try something a little different…Instead of the typical article covering a single facet of internet marketing, we’re going to look at IM as a whole, and break down some of the valuable information that we’ve come across.
Not only does this information make for some interesting tableside conversation, but it can also provide insight into what may be working within internet marketing. Hopefully, this will help aid you in your latest IM campaign…
Nothing can maximize conversion rates the same as split testing everything from the wording of your headlines to the placement of your sign up boxes. Yes, this is a tedious task as it can be extremely time consuming and force you to take an analytical approach to your campaign, but it truly does pay off. Just ask the top performers in the world…Google once strategically split tested 50 variant shades of blue on their gmail platform. 50 different shades! That is taking a serious approach to increasing usage rates.
Conversion XL did a study on split testing marketing methods. They found that sample sizes truly played a part in acquiring reliable statistical data. The split tests that only received approximately 100 visitors showed a dramatic decrease in conversions of almost 90%. However, over time, the same campaign showed a 25% total increase in conversions over the original when provided with 600+ visitors. What does this mean? It shows that often times marketers will send a bit of traffic to their variants and assume that the actions of a small amount of visitors is in line with what the majority will do.
Digital Advertising Awesomeness
Clearly there are countless other marketing methods besides what can be found online. Let’s take a look at how these methods stack up against IM.
- Of all television ads that make it on screen every single day, only 18% generate a positive ROI. In fact, the majority of users (approximately 90%) that have a form of technology that allows them to fast forward, will.
- Due to online trends, experts predict that 1 in every 4 dollars spent on advertising will be spent online within the next year.
- According to Nielsen, one of the world’s leading information measuring companies, over 85% of the world’s online users have made a purchase via the internet.
- Between 2011 and 2015, the only marketing method that is expected to significantly increase in usage is IM (by 7% total). All other methods such as newspaper, magazines, radio, and outdoor are expected to drop. Cinema and television ads are only expected to expand by .1% each.
- A 30-second ad run during the Super Bowl costs upwards of $4 million. The average cost of marketing to reach the same amount of people online would cost 75% less.
The Holy Moly Stats
These are the statistics that are so impressive, they blow everything else out of the water:
- Com Score reports that the purchase of digital content and subscriptions increased by 20% over the last year alone.
- During the first quarter of 2013, E-commerce providers raked in a whopping $50 billion dollars. That is only the first quarter!
- 183 million Americans watched over 44 billion online content videos in the month of June. That equates to over 85% of total internet users in the US. During this month, viewers watched over 7.5 billion minutes of video ads. Youtube marketers take note!
- Baymard reports that over 50% of the IM and ecommerce sites online will ask for the same information more than once, causing users to bail on purchases.
- 76% of marketers polled reported that they know what their target market wants, yet only 36% have ever asked via social media.
Hopefully some of this information will give you insight into what is working within the marketing world. Sometimes it can be beneficial to take a step back and look at the “bigger picture.” Good luck on your IM journey, and remember, gathering statistical data is absolutely integral to IM success.