This year's Digital 2024: Global Overview Report has been published. This is a collaboration between We are Social and the good people at Meltwater. This is a 561-page report about how people use the internet and social media. The report also mentions various marketing trends that will be popular in 2023 and marketing strategies that will emerge in 2024. Some of the report's key points are included in the article.
According to the report, advertising spend in digital marketing increased by 11% year-on-year in 2023. In 2023, total advertising spending will reach $720 billion, with digital advertising accounting for 70%. With the rise of generative AI, brands are finding new ways to advertise. Online search and video ad spending takes a huge amount out of total ad spending. Search advertising also increased by 11%, accounting for his 38.8% of total digital ad spending. The number of search ad impressions has increased, but the click-through rate remains the same at 2%. However, search advertising costs have also increased by 2.3% year over year.
Since most consumers search for brands on search engines, brands must also work on SEO to increase their digital visibility. This is also how a third of consumers discover and purchase new brands. Google is currently the world's top search engine, and Bing is also growing in popularity by 11.2% year-on-year. Marketers should invest more in social media after search engines because consumers do product research on social media after visiting search engines. Consumers are also engaging with brands on social media by consuming photos and videos, commenting on campaigns, following pages, and visiting websites.
In Google searches, most consumers search for electronics and fashion. These two are among the top searched shopping terms. If you want to get more customers, use keywords that help more consumers by incorporating keywords with interesting content. It's important for marketers to design ads keeping in mind that most consumers search for brands on their mobile phones. When promoting your brand, be sure to plan your marketing strategy by keeping in mind that most consumers around the world are mobile-first and likely to search for your brand on digital platforms.
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