Adapting the New Marketing Climate
After 20 years when the first online advert was sold by Global Network Navigator (GNN), this journey looks fascinating when we look at how far we have come. It started the ball rolling and built a momentum for the rise of the web ad, from search engines keyword auctions to the rise of the social media.
The branding benefits of the digital adverts have attracted advertisers to use sophisticated targeting techniques for running their advertising campaigns. Once advertisers dipped their toes in digital advertising, they performed with the rise of this technology.
Recent growths in online advertising have marked milestones presenting the fact that online advertising has become one of the effective ways for businesses of all sizes to expand, find customers, and diversify their revenue streams.
Project Total and Spending in 2016:
The robust digital advertising has lowered the growth projections for TV. The digital spending has surpassed TV spending this year. This is because of the cost effectiveness of the digital advertising whereas TV advertising still cost a lot of money for a single 30 second campaign.
Digital advertising generated 76.6 Billion in 2016 as compared to TV advertising that generated 72 Billion.
This digital advertising growth was driven by
- Mobile advertising surpassed both e-mail and social media advertising in 2016. This segment was up 11% in 2016 and is continuously growing as a global smartphone penetration.
- Social media networks like Facebook, Pinterest, Twitter, and even SnapChat are redefining the advertising experiences. Companies are realizing this fact and are increasing their social media marketing’s from past couple of years. Algorithms have shown that social media marketing accounts 7% of the market share in 2016.
- Email marketing is pushing marketing automation technology although it accounts a little share of 3% in the online marketing industry.
- Search engine advertising is the most powerful strategy that can be used to reach the online audience. It is an excellent way to make your appearance visible to the online world this is the reason for its $33 billion market share in the year 2016. It contributes the largest 43% in the online marketing share.
- Display Advertising is helping to revolutionize online marketing in the new century. It provides benefits that are not provided by other mediums such as faster brand building, effective targeting, and time conversion measuring. This is the reason it contributes 36% of the market share and the advertising expenditures are expected to reach to $28 Billion in 2016.
The world is quickly shifting from traditional advertising to digital advertising because people are becoming more and more attracted to online world on daily basis. The increasing use of smart devices for shopping purposes has made companies and brands realize their future marketing strategies for business. The digital media is soon expected to replace all form of traditional advertising.
Marketers have become more versatile, practical and streamlined in their marketing campaigns so that they do not fade away in new marketing climate.
In modern era they say “you have no business if your business is not online”