The Internet Is the Place to Be - SEM Back to Basics Tip #5
The Internet Advertising Bureau released a press release stating "Full-year 2008 revenues totaled a record $23.4 billion, exceeding 2007's performance, itself the former record of $21.2 billion, by $2.2 billion or 10.6%. By comparison, a variety of sources indicate weakness in overall advertising spending. The Nielsen Company, for example, reported that U.S. advertising for the full year 2008 was down 2.6% compared to the full year 2007." So not only is Internet Advertising growing at a faster rate than any other advertising medium ever has, it is also remaining strong in our current economy while other advertising channels are struggling.
So why has Internet Advertising taken the world by storm? Probably because it has the ability to target, measure and motivate action in the same channel. Where else in advertising can you find the assortment of offers and instant opportunities to buy?
Most other forms of advertising are fairly passive. You happen to hear a radio ad on your way to work. It's hard to avoid a television commercial. Even when those advertising mediums spark interest, how often do they actually spark action? I can't begin to count all the times I've seen a TV commercial for a product I was interested in, that I never got around to actually purchasing. I'm sure I'm not alone in that boat. The Internet however, is another story. It is almost too easy to see an ad, click on a link, and end up filling a shopping cart before I know it! On the Internet, customers are more engaged, and more likely to buy.
Internet Advertising lets you have more control over your budget than other advertising mediums. You are able to test your ads' effectiveness, practically in real time; so that you can make the most out of what you're spending online.
The Internet has powerful tools that help you justify what you spend online. Web analytics can showcase marketplace feedback, budget activity and ROI numbers almost immediately; can you say the same about your other advertising mediums?
With number and charts like these, it's easy to see why and how Internet Advertising has gotten to be as popular as it is.