The advertising scale has shifted its weight dramatically, with online ads soaring to popularity over print ads. According to eMarketer.com, spending for print ads decreased from $36 billion in 2011 to $32.3 billion in 2016, while online ad spending grew from $32 billion to $62 billion, with an estimated projection to reach $75 billion. TV ads make up a big portion of ad spending in our society -- $60 billion in 2011 and $72 billion in 2016, but those figures show digital ad spend is closing the gap.
Now the era of new TV technology has arrived -- with the introduction of Apple TV, Netflix, and Google Chrome TV, we can choose the media of our choice, and watch on-demand shows whenever we want. More and more people are cancelling their subscriptions to cable or satellite TV services. It will be interesting to see how advertising advances on those mediums.
The question now is how can we business owners deliver our message to the general public most effectively? The biggest return on your investment will probably come through online advertising. In general, there are different types to choose from:
- Pay-per-click (example Google’s AdWords)
- Display ads
- Newsletter ads
- Affiliate marketing
- Social media advertising
The beauty of online advertising is now we can target specific demographics and refine the audience who sees our ads to get more quality leads. Google, Facebook and others are tracking to see what people are browsing, what sites they’ve visited, and all the information people provide via searches on computers and mobile devices. This is called “profiling.”
Because of profiling, you as a business owner can more effectively run ads on these sites. You can control your ads, how much to spend daily, who sees it per age range and gender, even localize it to a region, state or city. Sites like Facebook and Google will then show your ad to those whose profiles fit your specifications and have a search history that might be relevant to your business.
These advertising options aren’t just available to businesses with a multi-million dollar ad budget either. They’re actually great options for smaller, more cost-conscious businesses. And it empowers companies to reach an audience they never had access to before.
Stay tuned to our blog this month as we discuss more about the options and advantages we have when it comes to modern-day advertising in business.