37 Must-Know Marketing Trends & Statistics Post COVID
Since the virus went viral, marketers started looking for new ways to communicate with their audiences. A lot has changed and here we are keeping a keen eye on the marketing trends and statistics post COVID.
Rewind a year from now, who would have thought that the great human race would be on house arrest in fear of an invisible enemy! With the onset of COVID 19, things have definitely changed for us. The world will no longer be the same and we must adapt. As marketers, we were keen to know how the marketing community is adapting to the new normal. So, we did a fair bit of research and compiled this blog on Marketing Trends & Statistics Post COVID. And it’s time to reveal them. So, let’s begin!
Content Marketing Trends & Statistics Post COVID
Amidst the COVID 19 mayhem, content marketers responded quickly to the changing nature of business-customer interactions. According to a study, 94% of B2B content marketers changed their content marketing strategy to adapt to the changing dynamics of marketing in the post COVID world.
So, what exactly did they change?
1. 64% of marketers updated their editorial calendars.
2. About 70% revised their targeting and messaging strategies.
3. 53% of the surveyed marketers changed their promotion and content distribution strategy.
4. 40% of content marketers have allotted more resources towards creating content for social media and online communities.
5. 31% of marketers have reexamined their customer’s journey.
6. 20% adjusted their Key Performance Indicators (KPIs).
7. 14% of marketers updated their content marketing metrics including setting up new analytics and dashboards.
Paid Advertisement Trends & Statistics Post COVID
After the coronavirus breakout, the world as we knew it, has changed. Businesses are leaving behind the traditional ways of communication and improvising to adapt to the changing scenarios. A recent report by WARC predicted that global ad spends on traditional media will come down by 10.2% YoY compared to the results of 2019.
Now let’s have a look at how online advertising has been affected by the Coronavirus pandemic:
8. According to reports, digital advertising spends in the UK fell by 5% YoY in the first half of 2020 compared to H1 2019. But this 5% decline looks promising if we compare it with the drastic decline in the total ad market.
Talking about the subcategories in the digital marketing industry, the same report also shows that display advertising grew by 0.3% to £2.84bn. And within display advertising, video advertising grew by 5.7% to £1.35bn (this clearly reflects the surge of digital streaming during the lockdown).
Investments in Search Advertising dipped by 3.7%, with revenue down by £143m to £3.7bn compared to the first half of 2019.
9. However, as per the Mobile Quarterly Index by PubMatic, mobile ad spends globally soared 71% YoY during the second quarter of 2020.
10. The same report by PubMatic also claims that mobile video ad spends globally rose by 116% compared to pre-pandemic figures.
11. Ad spends by the video game industry also increased by 80% YoY in the first two weeks of November.
12. Worldwide social media ad spends jumped by 30.9% in April 2020 as compared to the figures of March 2020. Industries leading the way to this surge in social media ads included Beverages (51%), Beauty (43.6%), and Accommodation (43%).
13. In fact, in a recent Hootsuite report, we found that Instagram’s advertising reach during July-September 2020 has increased by 7.1%, whereas Facebook saw a growth of 2.2%.
14. Further, we found that the industry-wide Cost Per Click (CPC) increased by 18.9% over the same period (April 2020). Industries like Auto (35.1%), Accommodation (33.3%), and E-commerce (26.2%) saw the highest increase in CPC.
However, the recent industry average for CPC is $0.088 and that is still less than what it was in February ($0.130).
15. We also looked at the industry-wide cost per thousand impressions (CPM) figures. This showed an average rise of 15% led by the beauty industry (28.9%) followed by retail (25.8%).
16. And of course, it all boils down to the effectiveness of running ads. So, we dug deeper to check if the industry-wide CTR figures were holding up.
Surprisingly, the average click-through-rate (CTR) remained steady or improved in some cases. The overall CTR average settled at 1.02% and industries like beauty (26%) and fashion (12.3%) saw an increase in CTR.
Social Media Trends & Statistics Post COVID
After the breakout, we have started working remotely and living under different restrictions. As a result, we have more time to spare. This has led to a surge in the time spent on online activities (social media to be precise). A survey suggests that 39% of the respondents agreed that they were spending more time on social media.
So, let’s look at some social media trends and statistics post-COVID:
17. The number of social media users was forecasted to grow by 2.5% in the pre-pandemic period. However, it has grown a modest 3.3% post-pandemic! Digging into the demographics, we found that most of the growth has come from consumers aged 35 and older.
18. Prediction reports say that there will be 212.1 million social media users by 2020. And the figure is expected to grow to 226 million by 2024.
19. In the UK, 17m social media users are now spending more than 66 minutes every day on TikTok.
20. Marketers expect a 66% increase in social media content creation during the pandemic.
21. An analysis conducted by Visa shows that 1 out of 4 online purchases is now made via social media interaction.
22. Going by the same report, 60% of businesses are planning to increase their Instagram budget in 2021. And around 30% are planning to do the same for Facebook, YouTube, and LinkedIn.
23. Talking about social media goals, the above report also says that 73% of marketers have kept ‘new user acquisition’ at the top of their list for 2021 compared to 46% last year.
24. Furthermore, brands’ interest in influencer marketing has increased after the COVID-19 outbreak. 59% of influencers say that more brands are approaching them for partnerships as compared to the pre-COVID times. On top of that, 50% of the brands have allocated more budget for influencer marketing since the pandemic.
Ecommerce and Online Marketing Trends & Statistics Post COVID
With the outbreak of COVID 19, governments across the globe were forced to declare strategic lockdowns to contain the deadly virus. Eventually, we started to accept this as the new normal. As a result, the offline retail industry took a huge blow. According to The Retail Gazette report, footfall in retail destinations plummeted by 31.5%.
After reading this, we were intrigued to know if the eCommerce industry benefited from this mayhem. And here’s what we found:
25. 62% of US shoppers admitted that nowadays they shop more online than in the pre-COVID era.
26. However, shopping app downloads in the United States slowed down to 4% YoY in the third quarter of 2020
27. UK retailers saw a 23% increase in their online store sales on Black Friday (2020).
28. As predicted by the eCommerce brand eShopWorld, cross-border eCommerce sales are likely to see an average rise of 63% YoY throughout November and December 2020 (festive season).
29. During August and September 2020, the international online sales of luxury goods surged by 170% YoY.
30. Amazon reported that their third-party sellers saw a 60% growth YoY in Black Friday weekend sales amounting to $4.8 billion worldwide.
31. A press release by Amazon on their 2020 Q3 financial figures, showed an increase in sales by 37% YoY worldwide.
32. eBay, on the other hand, managed to increase its revenue by 25% YoY in the third quarter of 2020.
General Marketing Trends & Statistics Post COVID
We found some really interesting post-COVID trends and statistics on marketing in general. And for a curious marketer, there’s nothing called enough stats, right? So let’s dig in!
33. 70% of marketers have shifted partially or fully to virtual platforms for marketing events and customer interactions.
34. 76% of SMBs admitted that they are putting more effort into improving their capabilities in terms of SEO, social media, and data analytics.
35. However, 79% of CMOs are still pursuing conservative growth strategies and are relying on existing markets to fuel growth primarily.
36. Post-outbreak, due to financial constraints, companies are relying less on external marketing strategies. Instead, they are looking for in-house resources to carry out marketing communications. Brands used email marketing (66%), websites (63%), and social media marketing (52%) as their top marketing tactics.
37. While researching the change in consumer behavior amidst COVID 19, we found that 87% of consumers appreciate brands that are willing to take the extra step to deliver timely and relevant information during the pandemic.
COVID-19 has shocked the entire world and it is taking a toll on economies around the world. Businesses are struggling to survive, and we believe that online marketing will lead the way to recovery in the new world.
Having said that, it’s also true that competition in the online domain will increase many folds. And if you are ill-prepared, your business might end up in a ditch.
Standing out in the online crowd has never been more important. So, we suggest you take a look at “Interactive Content”. We have been saying time and again that interactive content is the future. And, now it’s time for you to explore the power of customer engagement and lead generation with interactive content – the go-to tool for most successful marketers. In case you already know about interactive content, let us direct you to a platform where you can create interactive content like quizzes, polls, surveys, etc. for free. Try it out today!
Roy is a full-time content marketer at Outgrow. He often travels to the Himalayas in search of his muse to breathe. Being a professional marketer & a passionate traveler, he struggles to keep the balance.