We have great news for Marketing Managers and CEOs! Digital Marketing enables you to reach global consumers and targeted segments (minority groups, millennials, Gen Z, etc.) through digital channels and social media platforms. Now more than ever, marketers need a better understanding and experience in data analytics and digital measurement.
If you’re a marketer, a community manager or a business owner, you will find this article useful as we present US-oriented market insights, trends and analyses related to digital marketing and social media in general.
U.S. Market Overview: Focus on Technology and Retail Industries
With 14 brands out of the top 20 global tech brands, American brands dominate the technology field. Google, Amazon, Facebook, Apple and Microsoft (GAFAM) are the five tech giants that have a significant impact on U.S. consumers and people worldwide. In terms of brand value, they are ahead of the game! Therefore, there is a lot that can be learned from them.
The Covid-19 pandemic accelerated the online shopping experience, creating new online consumer behavior patterns. American retail brands, such as Amazon, Walmart, and The Home Depot, are another example of success. In 2020, these brands implemented a new strategy. By listening to their customers, setting a highly-analytical process and marketing plan and evaluating their work, they were able to increase their brand value.
Amazon still remains the most valuable brand in the world. But what exactly is a brand value?
A brand value is the brand’s financial significance. By achieving this value, you know that your brand is making a profit while also shining.
Market Penetration and Market Size
The U.S. market is considered the world’s largest market and trader of products and services.
All the creative and tech minds operate from the States; here’s where all the magic happens. NYC, LA, San Francisco, Boston, and Washington DC are some of the top tech cities on the rise.
We at Digital Revamp believe that having our main headquarters in Washington DC is strategic, for the broader business network we find here. We are able to establish more connections and observe and analyze new marketing trends. We operate from the heart of D.C. to deliver the most inspiring key messages for your business or organization. We work with senior marketers and business owners, for they are the key people who handle and manage marketing activities and online brand communication.
Generally, marketers invest lots of time and effort in digital marketing and expect a good ROI for their campaigns. Social media allows assessing and evaluating campaigns performance through analytics and tracking tools. In the United States, $6 out of every $10 is spent on digital media, while only $4 is spent on traditional media.
Did you know that digital marketing does not end with ads and social media campaigns? We also have digital goods to think about! Let’s find out what they are, shall we?
The Era of Digital Goods
Digital goods are designed for the younger generations, who use and breathe technology. These goods are products that can be found in digital formats like e-books, downloadable movies or music, software, and mobile apps. They are intertwined in our current digital life and are priced as physical goods. They also include social media platforms and search engines.
Companies will have higher profit margins if they sell more of the digital goods since they are actually produced once and sold to the general masses.
Consumer Behavior in the U.S.
Consumer behavior is something that we can’t ignore. Nowadays, it is the most important component when it comes to result-driven digital marketing.
Most U.S. millennials and Gen Zers have become online shoppers, especially during the pandemic. In the past, American advertising and media included lots of elements that alluded to materialism and instant gratification. Today’s media consumption phenomenon is not the same as before. People are more interested in connections, relationship-building, and genuine content that can appeal to them.
For example, the American lingerie retailer Victoria’s Secret is changing its image because it believes that the VS angels are not “culturally relevant” anymore. Now, the brand wants to involve strong women who are activists and entrepreneurs. The company aims to move toward diversity and inclusion.
The better you understand the needs of your customers, the better customer bonds and experiences your business will build.
Market Forecast
And finally, we have compiled some market forecasts from several sources. Have a look at these facts and numbers and keep them in mind when creating your next social media plan.
- The number of social media users in the U.S. will reach around 257 million in 2023.
- Marketers will prefer quality over quantity in the coming five years.
- Hybrid events are the new normal, combining face-to-face and online meetings that can be interactive, inclusive, and sustainable.
- Most Americans are optimistic about the future and they foresee a better future with technological advancements.
- Businesses aim to form partnerships with nonprofits, particularly those that actively help the environment and the community.
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