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Is Digital Marketing Going to Be Saturated in 2022? - read the full article about marketing industry 2021, Market Research and Quantitative & Qualitative from Neil Patel on Qualified.One
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- Everyone is doing digital marketing, especially after the pandemic.
Hey everyone, Im Neil Patel and today Im going to break down if digital marketing is going to be saturated in 2022.
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Global digital ad spend will reach $380 billion in 2021.
Now, its going to even go up more in 2022, 2023, and et cetera.
While worldwide digital ad spending achieved a modest 2.4% increase in 2020, its expected to shoot up 70% in 2021, according to eMarketer.
US social media ad spend reached $43 billion in 2020.
Now, I know thats past now, but still, that was a 20% increase from 2019, according to eMarketer.
The answer is, its going to be the most saturated environment ever in the history of digital marketing.
Look, I promise you one thing Im going to present to you with the way you can differentiate yourself so that way you can succeed in 2022 and beyond.
So heres how.
First off, if you think about content, theres roughly 1 billion blogs.
Theres over 1.8 billion websites.
That means theres roughly one blog for every seven people.
Youve heard me say that before.
Do we really need more content? No.
Did you know for the term auto insurance in the United States, theres less than 200,000 monthly searches, but yet over seven billion results! Thats seven with a B.
Thats not an M, B for billion.
Theres not even seven billion people in the United States.
Theres more pages in the United States in English for the term auto insurance indexed by Google than the whole population of the United States.
Heck, its close to the population of the whole world.
Thats one page for every single person that needs auto insurance just if you take the US-based pages.
What happens if you take all the global pages? Again, more content than the amount of people.
So the issue you have is theres too much content and you wont do well if you create the same regurgitated content.
So how do you differentiate yourself with content? Use steps. Use data.
Mix in your own story.
Talk about your experiences.
See, people want a fresh perspective.
If you dont give them a fresh perspective, youre not going to do well.
Youre just going to be the same old stuff that everyone else is saying.
And if you cant create a fresh perspective, dont write that content piece unless you have tons and tons of authority, which most people dont.
The second way to differentiate yourself, I want you to spend more time updating your content than writing new content.
I write one blog post a week.
Thats it! One.
Thats roughly four a month.
Did you know my team spends more time writing content than me? Theyre not writing new content and publishing blog posts.
Thats what I do. I enjoy that.
You know what my teams doing? Theyre taking all my old articles from a year ago, two years ago, five years ago, and theyre updating it.
They update over 100 articles a month.
So for every four articles Im writing, theyre updating over 100 old articles.
In essence, theyre spending 25 times more than me updating content than I am writing new content.
As I mentioned, theres more content than we need on this web, so if you update your content, youre going to rank better because Google wants to keep ranking fresh content over stale content.
The third way to differentiate yourself, influencers.
If you look at influencer marketing, its a rave, its a craze, its booming, its here to stay.
Michael Jordan, Nike shoes, great example of this.
Nike. Jordan.
Boom, you got a multi-billion dollar business.
Kylie Jenner, Kylie Cosmetics, makeup industry.
Boom, you got a billion-plus dollar business.
And I can keep going on and on how influencers have been used over time to help generate more sales for companies.
Beats, Apple bought that company, Beats By Dre.
Everyone knows Dr. Dre in the music industry.
Theyre like, you know what, we trust his sound.
We trust his beats.
We trust the bass.
I dont know too much about music, so I dont know if its beats or bass, but you get the point.
And if you think about it, adding an influencer to a brand helps blows things up.
Tom Brady. FTX.
You see Tom Brady in FTX commercials.
You see LeBron James in Tonal commercials.
You know, Tonal, the fitness machine where you have machine-based dumbbells or electric weights? Thats the power of influencers.
If you can combine influencers with your marketing, youll notice that your conversion rate goes up.
If you dont have a big budget for this, no worries.
Pick up your phone, sign up for Cameo, pay one of those influencers to say something about your business.
And what I want you to do is then take that and use it for a testimonial.
Use it to push your product, assuming they approve it, but most times they do and its dirt cheap.
Great way to boost your conversion rates.
The fourth thing that I want you to focus on is adding in the upsells and downsells.
Conversion optimization is one of the least sexiest topics out there.
I dont create too many videos about it because no one wants to watch them.
Our podcast, Marketing School, that I do with my cohost, every time we have a podcast on conversion rate optimization, one of the lowest-watched videos.
But if you add in the upsells and downsells with the rising cost of marketing, not just ads, but it takes longer to get SEO results, more expensive to do content marketing, if you do upsells and downsells, you can generate more revenue from each conversion, optimizing your lifetime value, which makes things more profitable.
And last, but not least, take an omnichannel approach.
Used to be able to build a business from one channel, whether its SEO, Google ads, Facebook ads, so a lot of eCommerce sites these days, they just want to rely on Facebook ads.
And then boom, Apple makes the iOS privacy change.
What happens? The eCommerce companies, whoa, whoa, our ads arent doing as well.
Yeah, you shouldnt have been relying on one channel.
It doesnt mean you shouldnt use Facebook ads or Google ads or SEO, but you need to use them all.
You may not be able to use them all from day one, but eventually you can take the omnichannel approach and go after most of the channels.
Some may not perform as well as others, its okay.
Some may not drive as much volume as others, its okay.
But if you take the omnichannel approach, youll do well in the long run and you wont have to worry as much for algorithm updates.
If you need help with your digital marketing in 2022 and beyond, check out my ad agency, NP Digital.
If you have any questions, leave a comment below.
Im here to answer it.
If you enjoy the video, like it, share it, tell the people about it.
Thank you for watching.
Neil Patel: Is Digital Marketing Going to Be Saturated in 2022? - Market Research