Introduction:
Online businesses have not only witnessed massive growth but have also become more competitive in recent times. With the global pandemic pushing many businesses to shift their operations online, it has become more critical than ever to stay ahead of the curve. To do so, online businesses need to keep track of current and emerging trends, including growth statistics that can help them make better-informed decisions. In this blog, we will discuss the top five online business growth statistics that you must know in 2021.
1. Mobile Commerce Growth:
Did you know that mobile e-commerce is expected to account for 72.9% of all e-commerce sales in 2021? This statistic proves the increasing importance of developing a mobile-first marketing strategy for online businesses. With the number of smartphone users growing by the day, it has become essential for online businesses to optimize their websites and marketing campaigns for mobile devices. Failing to do so can lead to missed opportunities in terms of customer engagement and revenue generation.
2. Social Media Marketing:
In recent times, social media platforms have emerged as a powerful marketing tool for businesses. In 2021, it is expected that social media advertising spending will reach 49.2 billion dollars, highlighting the importance of leveraging social media platforms for business growth. By creating compelling content and engaging with your audience on social media, you can expand your reach and connect with potential customers. Additionally, social media platforms allow you to collect valuable customer insights, which can help you tailor your marketing messages to target specific audience segments effectively.
3. Video Marketing:
Did you know that four times as many customers prefer watching a product video than reading about it? This statistic highlights the growing importance of video marketing for businesses. In 2021, it is expected that video marketing will account for 82% of all internet traffic. By creating engaging video content about your brand, products, or services, you can increase brand awareness and drive customer engagement. Video marketing is an effective way to showcase your products’ features and benefits and create emotional connections with your target audience.
4. Artificial Intelligence and Chatbots:
Artificial intelligence-powered chatbots are becoming an increasingly popular method for businesses to engage with their customers. In 2021, it is expected that chatbots will save businesses about $8 billion. By incorporating chatbots into your customer service operations, you can streamline your customer service process and free up your team’s time to focus on other critical business operations. Additionally, chatbots can provide personalized customer experiences and collect customer insights that can help you improve your products or services.
5. Email Marketing:
Email marketing continues to be a powerful tool for online businesses to engage with their customers. However, not all emails are created equal. In 2021, personalized emails are expected to deliver six times higher transaction rates than generic emails. By using customer insights and segmentation, businesses can create highly personalized emails that speak directly to their customers’ needs and interests. When done correctly, email marketing can drive customer engagement and loyalty, ultimately leading to increased revenue.
Conclusion:
As an online business owner, it is crucial to stay aware of the latest trends and growth statistics to stay ahead of the competition. By leveraging mobile commerce, social media marketing, video marketing, artificial intelligence and chatbots, and email marketing, you can create a comprehensive growth strategy for your business that drives engagement, increases revenue, and ultimately grows your business. Stay informed, stay creative, and stay ahead of the curve in 2021!
