What do 41, 87 and 1.1 trillion have in common? They’re all important numbers this week, where we’ve compiled seven stats about VR interest, ad spend projections and marketing budgets.
The digital marketing industry is so full of numbers that it can be overwhelming. We’ve curated seven interesting stats from the last week, starting with one particularly staggering one.
1.1 trillion: The value of Chinese ecommerce market by 2020
China officially became the world’s largest ecommerce market last year, surpassing the U.S. Despite a dip in economic growth, that number doesn’t look to be slowing down, either. By 2020, the market is estimated to be worth the equivalent of $1.1 trillion.
It’s not just China; ecommerce growth in the APAC region is far outpacing the rest of the world. The second-fastest growing market, India, will be worth $75 billion. Another $225 billion represents the combined projected growth for Japan, South Korea and Australia, as well.
2017: The year digital ad spend will surpass TV
According to eMarketer, TV was 37.7 percent of the ad spend last year, compared with digital’s 32.6 percent. The gap between digital and TV ad spend keeps getting narrower, with the former set to outpace the latter by next year
eMarketer anticipates that in 2017, TV spend will be $72.01 billion, or 35.8 percent; digital, $77.37 billion, or 38.4 percent. But nothing is growing as quickly as mobile.
Mobile made up 10.9 percent of digital ad spend in 2014, a number that’s expected to more-than-double by this year. In 2020, mobile ad spend is even projected to equal that of TV.
41: What percentage of Americans would consider digital subscriptions
While ad blocking continues to rock the publishing world, the industry is also plagued by the struggle to monetize in the digital world. Meclabs surveyed 900 adults about whether or not they’d even consider paying for a digital newspaper subscription.
Only 41 percent said yes, provided the newspaper has a persuasive enough argument. The value of individual subjects varied across demographics. Nearly all adults aged 55-64 (94 percent for both) call international news and politics “essential,” compared with 83/84 percent of those 25-34. Along gender lines, 70 percent of men and 70 percent of women prioritize business and finance, and health news, respectively.
33: The percentage of Americans interested in virtual reality
Virtual reality (VR) is touted as the next big thing, but is the industry overplaying its value to the public? Probably.
A new Horizon Media study surveyed 3,000 people, finding that when it comes to VR, only one-third are interested. The numbers are so bleak, in part because three-quarters of consumers find the technology cost-prohibitive. Only one-quarter of the survey respondents said they’d pay more than $250 – less than half the cost of Oculus Rift – on a VR device.
Fifty-five percent plain don’t find the technology interesting. But those who do like VR tend to like it a lot; the pro-VR consumers find it twice as exciting as the Apple Watch.
87: What percent of retailers plan to dedicate more money to mobile marketing
The move toward mobile certainly applies to retailers. RetailMeNot released a new report, which found that 87 percent of the 200 retail marketers surveyed plan to invest more in mobile marketing this year.
In fact, 39 percent expect to dedicate at least half their marketing budgets to mobile in 2016. The reason for such high figures? Marketers believe mobile drives sales. Three-quarters of the respondents feel that mobile unique promotion codes provide above average ROI.
60: Number of seconds it takes for marketers to continue a response “real-time”
Similarly, 59 percent of marketers plan to dedicate more of their budgets to real-time marketing, according to Evergage. Like mobile, real-time is seen as having a strong correlation with ROI. Sixty-five percent say real-time marketing drove ROI by at least 50 percent; only 15 percent don’t see a connection between the two.
When asked about responding to consumers on social media faster, 95 percent of respondents said it’s important; 56 percent “strongly agree.” The ideal response time? Less than 60 seconds.
44: The average number of months CMOs stay at brands
According to the 12th annual CMO tenure study by executive search consulting firm Spencer Stuart, the average tenure of CMOs at 100 of the top U.S. consumer brands has declined for the first time in the decade. The average dropped from 48 months to 44, with a median of 26.5 months.
Could the shorter tenures have something to do with the CMOs still establishing their careers? Of the 100 marketers surveyed, 73 percent are in an executive-level role for the first time.
As the ball drops on December 31st, make sure your media strategies are stacked with timely resolutions to make the most of 2017.
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