 Digital 2024 Report Reveals Surge in Ad Spend, Highlights Importance of SEO and Social Media Marketing

Arooj Ahmed 3/02/2024 10:03:00 AM

This year's "The Digital 2024: Global Overview Report" is out, which is a collaborative effort of the good folks over at We are Social and Meltwater. It is a 561 pages long report that talks about how people are using the internet and social media. The report also talks about different marketing trends that went viral in 2023 and also the marketing strategies that will emerge in 2024. Some of the main points from the report are included in the article.

According to the report, the ad spend for advertisements in digital marketing increased 11% in YoY in 2023. Digital ad spending makes 70% of the total amount for ad spending which touched the USD $720 billion mark in 2023. As generative AI is getting popular, brands are exploring new ways for advertisements. Online search and video ad spending takes away a huge amount from the total ad spending. Search advertising has also increased 11% and it makes 38.8% of the total digital ad spending. Search advertising impressions have increased but click through rates stay the same at 2%. But the search ad cost is also rising with 2.3% YoY.

Brands should also work on SEO to improve their digital visibility because most of the consumers search for brands on search engines. This is also how one-third of the consumers find new brands and make purchases. Google is the top search engine in the world right now and Bing is also getting popular with 11.2% YoY. After search engines, marketers should invest more on social media because consumers come for product research on social media after visiting search engines. Consumers also interact more with different brands on social media by consuming pictures and videos, commenting on campaigns, following pages, and visiting websites.

On Google search, most consumers search for electronics and fashion as these two are the top searched shopping terms. If you want more customers, use the keywords that will help you more consumers by incorporating keywords with interesting content. It is important that marketers design their advertisements by keeping in mind that most of the consumers in the world are mobile first and they are likely to search for your brand on digital platforms.

Tags: advertisement, advertisers, advertising, Business, chart, content marketing, digital marketing, Search, searchengine, SEO, Technology, Facebook, Twitter

Digital 2024 Report Reveals Surge in Ad Spend, Highlights Importance of SEO and Social Media Marketing

The Digital 2024: Global Overview Report, a collaborative effort by We are Social and Meltwater, highlights a 11% year-over-year increase in digital ad spending, which now constitutes 70% of total ad spending reaching USD $720 billion in 2023. The report emphasizes the growing importance of SEO and social media marketing as key strategies for brands to improve digital visibility and consumer engagement.