As Belts Tighten Online Marketing Continues To Expand
As Belts Tighten Online Marketing Continues To Expand
If you are in business the bad news on TV might be good news for your marketing budget. You’re not the only one turning away from the box. Millions of people are turning online so they have more control over how, where and when they source their information.
Ride the wave of the existing online trend
Communication between companies and consumers, between brands and buyers is shifting away from traditional media to the online world. Television advertising is not going to cease any time soon. However, smart companies are already shifting significant marketing dollars online to initiate different relationships with their customers and be at the forefront of this evolution.
Recent statistics from major international research and audit companies show that spending on internet ads and marketing has soared in the last 12 months.
UK figures reported by Click Through marketing (drawn from Internet Advertising Bureau – IAB - and PricewaterhouseCoopers research) point to an increase of 28% in search marketing spending and 16.3% in display ad spending in the first half of 2008.
The increase is in sharp contrast to the overall decline in total UK ad spending of 0.7% (which would have been a total of 4.6% if internet advertising were not included in the figure).
Figures out from the same IAB research show that the USA is following a similar trend. Total internet spending in January-June 2008 was up 15.2% from the same period in 2007.
And as with the UK, overall spending on advertising is in decline. Emarketer research estimates that all of major US forecasters are predicting significant drops in newspaper, magazine, network TV and radio advertising. And while online advertising is tipped to slow slightly from 13.8% growth in 2008 to 13.4% growth in 2009, it is streaks ahead of other media in overall growth.
Okay, everybody’s doing it online – but why?
According to President and CEO of IAB, Randall Rothenberg, accountability is the single biggest factor influencing companies to shift marketing online. It is almost impossible to measure the impact of a television advertisement or billboard. But online advertising and marketing both have powerful capabilities to track WHO is looking and WHAT action (if any) they are taking in response to ads and campaigns.
Another compelling factor is the different kinds of campaigns that are possible online. The IAB report for second-quarter revenue (U.S) in 2008 shows that search revenue at 44% is way out ahead of banner advertising (21%), followed by classifieds (14%), lead generation (7%) and rich media (7%).
The unique thing about search advertising is that marketers only pay when a user clicks on their link. This creates an immediate and measurable relationship between what they are paying and how well it is working.
Because online campaigns can be targeted and measurable they have the capacity to produce a greater return on investment (ROI) than other media. Companies can easily track how effective campaigns are by including online calls to action. Campaigns can then be adjusted with minimal cost and effort to reflect customer desires and trends.
Going online makes sense for companies who need to trim expenditure. Not only are the up front costs lower (consider the difference in price of a prime time network TV advertisement and a Google Adword campaign), the results are more transparent.
You don’t have to be an e-business to benefit from online marketing
For online purchasing results it’s pretty hard to compete with the likes of eBay (totalling 56% of Australian online purchases in the first half of 2008, according to recent AC Nielson research). Airline and travel companies, online event ticketing and music downloads all compete for the next highest pieces of the online spending pie.
Of equal interest to WHAT people are buying online, is WHY else they are going online. If you can understand what drives people to use the internet you can then develop marketing strategies to offer and compliment what they are looking for. Aside from email, Australian users are logging on for banking and finance (25%), information search (13%), news and reference (7%), playing games (6%), chat (4%), online auctions (4%), business research (3%) and shopping (3%).
Forecast organization trendwatching.com predicts an increasing rise in cross promotions, and mutual marketing offers between companies. For example, UK mobile phone provider Orange gives customers access to concert and event tickets up to 48 hours before they go on sale via their gigsandtours program.
Creative online partnerships between businesses that offer customers genuine value is a powerful way to turn marketing dollars into revenue.
As Belts Tighten Online Marketing Continues To Expand - To learn more about this author, visit Rob Lawson's Website.
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Unless you’re a glutton for punishment you may have started turning off the television of late. Aside from the Obama blip on the horizon, the global news has a limited range of bad, worse and dire. Especially when it comes to the economy.
If you are in business the bad news on TV might be good news for your marketing budget. You’re not the only one turning away from the box. Millions of people are turning online so they have more control over how, where and when they source their information.
Ride the wave of the existing online trend
Communication between companies and consumers, between brands and buyers is shifting away from traditional media to the online world. Television advertising is not going to cease any time soon. However, smart companies are already shifting significant marketing dollars online to initiate different relationships with their customers and be at the forefront of this evolution.
Recent statistics from major international research and audit companies show that spending on internet ads and marketing has soared in the last 12 months.
UK figures reported by Click Through marketing (drawn from Internet Advertising Bureau – IAB - and PricewaterhouseCoopers research) point to an increase of 28% in search marketing spending and 16.3% in display ad spending in the first half of 2008.
The increase is in sharp contrast to the overall decline in total UK ad spending of 0.7% (which would have been a total of 4.6% if internet advertising were not included in the figure).
Figures out from the same IAB research show that the USA is following a similar trend. Total internet spending in January-June 2008 was up 15.2% from the same period in 2007.
And as with the UK, overall spending on advertising is in decline. Emarketer research estimates that all of major US forecasters are predicting significant drops in newspaper, magazine, network TV and radio advertising. And while online advertising is tipped to slow slightly from 13.8% growth in 2008 to 13.4% growth in 2009, it is streaks ahead of other media in overall growth.
Okay, everybody’s doing it online – but why?
According to President and CEO of IAB, Randall Rothenberg, accountability is the single biggest factor influencing companies to shift marketing online. It is almost impossible to measure the impact of a television advertisement or billboard. But online advertising and marketing both have powerful capabilities to track WHO is looking and WHAT action (if any) they are taking in response to ads and campaigns.
Another compelling factor is the different kinds of campaigns that are possible online. The IAB report for second-quarter revenue (U.S) in 2008 shows that search revenue at 44% is way out ahead of banner advertising (21%), followed by classifieds (14%), lead generation (7%) and rich media (7%).
The unique thing about search advertising is that marketers only pay when a user clicks on their link. This creates an immediate and measurable relationship between what they are paying and how well it is working.
Because online campaigns can be targeted and measurable they have the capacity to produce a greater return on investment (ROI) than other media. Companies can easily track how effective campaigns are by including online calls to action. Campaigns can then be adjusted with minimal cost and effort to reflect customer desires and trends.
Going online makes sense for companies who need to trim expenditure. Not only are the up front costs lower (consider the difference in price of a prime time network TV advertisement and a Google Adword campaign), the results are more transparent.
You don’t have to be an e-business to benefit from online marketing
For online purchasing results it’s pretty hard to compete with the likes of eBay (totalling 56% of Australian online purchases in the first half of 2008, according to recent AC Nielson research). Airline and travel companies, online event ticketing and music downloads all compete for the next highest pieces of the online spending pie.
Of equal interest to WHAT people are buying online, is WHY else they are going online. If you can understand what drives people to use the internet you can then develop marketing strategies to offer and compliment what they are looking for. Aside from email, Australian users are logging on for banking and finance (25%), information search (13%), news and reference (7%), playing games (6%), chat (4%), online auctions (4%), business research (3%) and shopping (3%).
Forecast organization trendwatching.com predicts an increasing rise in cross promotions, and mutual marketing offers between companies. For example, UK mobile phone provider Orange gives customers access to concert and event tickets up to 48 hours before they go on sale via their gigsandtours program.
Creative online partnerships between businesses that offer customers genuine value is a powerful way to turn marketing dollars into revenue.
As Belts Tighten Online Marketing Continues To Expand - To learn more about this author, visit Rob Lawson's Website.
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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