Adobe Digital Insights has put together a beautiful infographic (would we expect anything different?) on the State of the Digital Union – focused on digital advertising and associated consumer expectations. Perhaps my favorite thing about this infographic is that they really took mounds of data and paired it down to a select number of observations and conclusions:
- Ad Costs are Rising – as more mainstream advertisers turn to digital, the demand for ad space and associated costs are increasing. Mobile search cost-per-click (CPC) has risen 11% between 2014 and 2016. Mobile display cost-per-thousand impressions (CPM) has risen 12%, and video advertisements have risen 13%. While demand is part of the equation, I'm also curious if increased targeting technology is overcoming the return on investment.
- Screen Selection Increases, but Time on Site is Down – Ugh… it's annoying to me in a world of binge-watching that Adobe states, “attention span just keeps shrinking”. A lower time on site doesn't mean that you've lost the attention of the visitor. People are multi-tasking and researching online with a plethora of options. So, if there are dozens of videos on a topic, expect your visitors to exit to review all their options before watching.1 in 5 people move on from a video ad after just 5 seconds and there's been a 22-second drop in time spent on websites year over year. Quality choice and competition continue to increase in availability.
- Growth is Easy, Retention is Hard – In the past three years, growing companies saw a 30% increase in new visitors but 73% of those first-time visitors don't return.
- Martech Silos – 40% of companies have multiple Martech platforms, technologies, and silos, making it difficult to track the prospect or customer journey across devices and platforms.
- Consumers Don't Appreciate Ads – I'm always curious about capturing the fact that 58% of marketers say they're better at reaching customers but only 38% of customers agree The fact is that, while consumers may not love advertising… it continues to work for advertisers. The holy grail for marketers is to develop content that's appreciated, valued, and promoted in a manner that's fully pleasing to their prospects.
- Unified Customer Experiences – continue to increase in importance as customers seek to engage with brands in a manner they appreciate. And it works – job postings that blended technology and creativity saw 54% more visits than two years ago.
To compile this infographic, Adobe drew from 741 billion website visits, 450 billion ad impressions and 11 billion video starts. Wow!