When it comes to digital marketing, the year 2019 has been a pivotal one. The rise of TikTok and other similar platforms have changed the game – completely. What was once considered ‘traditional’ marketing and advertising is now completely digital – and it’s changed the way we will all look at marketing in the future. So, how has digital marketing changed in the past year and how will it continue to evolve in 2020 and beyond? Let’s take a look at some of the statistics behind online advertising in 2019 and how they impact the future of online marketing.
1.8 Billion People Use TikTok
If you’re reading this, I’ll assume you know what TikTok is. It’s the most popular social media platform globally with over one and a half billion daily active users. The success of the platform is evident in the billions of dollars it has raised and the huge number of acquisitions it has driven. If we compare this to TikTok’s launch in 2018, its audience had only reached 500 million users (at the time). Now, a year later, it’s hit 1.8 billion. The video platform has become so popular that it eclipses WhatsApp, Instagram, and YouTube combined.
This makes the platform the third largest globally after Facebook and YouTube. It’s also worth noting that TikTok is only one of the many platforms owned by TikTok Inc. The other major platforms include TikTok Live, TikTok Music, and TikTok Video. In other news, TikTok has been valued at over $30 billion.
Consumers Are Changing The Way They Use Social Media
TikTok is huge. It has transformed the game and changed the way we will see social media and digital marketing in the future. However, TikTok is not the only social media platform taking the World by storm. Other major players include Instagram and Facebook. What’s different about these platforms is that they don’t just rely on video content like TikTok does. They’ve changed the game by adding more features and functionalities and incorporating artificial intelligence (AI) to make their users life easier. For example, Instagram introduced video story and Facebook rolled out a ton of features last year to strengthen their users’ experiences on their platforms.
As a marketer, you should care about what’s happening on these platforms since these are the places your consumers are going to spend most of their time online. If your content isn’t up to date with the latest trends and technologies, you’re missing out on a lot of potential traffic. The fact is consumers are changing the way they use social media and that has major implications for marketing.
User Generated Content Is Changing The Game
TikTok is huge. However, it’s not the only game changer. The trend of user-generated content and creators on social media platforms is making its way into nearly every market segment. Even print publications are getting in on the action and allowing readers to contribute content. For example, Vice launched a podcast called ‘The Cut’ where anyone can submit a story for consideration. Similarly, Business Insider launched a new section on their site where content is curated by students — and eventually, you know, employees — of the publication. This is a sea change in how content is being generated and consumed across platforms.
This, of course, has implications for how you market a product or service online. Instead of focusing on ‘traditional’ marketing and advertising techniques, marketing leaders should be looking into what is working and adapting it for use in new marketing campaigns.
Mobile Is Changing The Game
Smartphones have changed the game for a lot of industries, but especially online marketing and advertising. Mobile devices not only allow you to access the internet but also act as miniature computer terminals. This makes mobile devices great for online marketing and advertising because they can be accessed anywhere and at any time. In fact, some surveys have shown that over 83% of people look at advertisements on mobile devices. If your target audience is already on mobile devices, it’s basically free advertising.
The importance of mobile for marketing is not lost on the big players in the industry. In 2020, Google rolled out a major update to their Google Ads platform called ‘Mobile Friendly Websites.’ This update makes it easier for users to access websites hosted on Google’s servers from their mobile devices. This is because mobile users are more comfortable doing business on their phones than their tablets or desktop computers. According to Google, over 50 million searches are now carried out on mobile devices every day. If your website isn’t mobile friendly, you’re effectively losing out on a lot of potential traffic.
Video Is Changing The Game
In addition to mobile, video is another medium that has significantly altered the way people consume content and make purchases online. Thanks to platforms like YouTube, which is owned by Google, Facebook, and other large companies, creators can post any type of video content they want, and reach a massive audience. This content can then be monetized via ads or live videos. In the case of YouTube, over 500 hours of video are being uploaded to the platform every day and over a billion hours per month. It is worth noting that TikTok is the king of all social media platforms when it comes to video – it has over 1.8 billion daily active users and over 300 million monthly active users as of mid-2019.
If you’re not taking advantage of video content or are ignoring the trends and technologies associated with video content, you’re missing out on a lot of potential customers and business partners. Video content is becoming so popular that traditional text-based advertising is now considered ‘old’ and, in some cases, even ‘archaic.’ With video, the lion’s share goes to the taker. For example, 85% of people click on product videos versus 61% of people who read an article on a blog.
To effectively market a product or service in the age of video, you have to be able to deliver a quality video that will engage your audience. In other words, you need the right video content strategy.
Content Is King
The term ‘content is king’ may sound like an old saying, but it’s never been more relevant than it is today. When someone decides to do business with or purchase your product or service, the first thing they will probably do is check out your content or social media posts to see what you’re all about. This is especially relevant if you’re running an online store because customers can read about your business and even sample your products before buying them. When you have exceptional content, customers will find you and stick around for the long haul – regardless of whether you have a physical store or not.
So, as you can see, 2019 has been filled with game-changing events in online marketing and advertising. The rise of TikTok and other similar platforms has altered the game completely. What was once considered ‘traditional’ marketing and advertising is now completely digital – and it’s changed the way we will all look at marketing in the future. Let’s take a look at some of the statistics behind online advertising in 2019 and how they impact the future of online marketing.