Online Advertising Grows Despite Recession
Whether or not we're in a recession - the economy is hurting, and the news seems to get darker by the day. Gas is up, housing is down and some of our most trusted institutions seem, well, less trustworthy. Yet, despite the media's endless fascination with struggling markets, online advertising continues to thrive. MyFranchiseExpert.com took a closer look at the issue discusses the benefits of marketing your franchise online.
As part of the recent economic downturn and the natural evolution of new business models, traditional advertising approaches are losing ground. Online business and advertising, however, continue to grow, innovating new approaches, cutting costs and reaching new markets. In 2006, for example, six percent of advertising budgets were allocated for online ads. This number is growing and is expected to double by 2011 and account for $41 billion in online advertising.
Why is online advertising growing?
- It's reliable. Unlike print, TV or radio, you can account for your online budget and track ROI by counting click-through rates and sales. It's straightforward, and with some quick math you can analyze a campaign's success.
- It's effective. Search and banner ads allow consumers to find what they want and buy it in just a few clicks. With a well planned search engine marketing effort, you can place your ads in the path of your most likely prospects. And, as technology has improved so has business - the success of online campaigns has increased by more than 60 percent over the past three years.
- It's quick and affordable. Most online campaigns take just a few days to launch and can start to pay immediately. And, of course, online ads cost a fraction of print, TV or radio spots.
More bright spots: Video and Mobile
Close on the heels of proven search and banner ad campaigns, video and mobile have not only great appeal but tremendous promise. How much promise? Video is projected to grow by 38 percent and mobile by 400 percent by 2011. These are big numbers that are going to change not only online advertising but advertising as an industry.
As traditional business and media segment and struggle in the current economic climante, online advertising is gaining strength year-over-year, and yielding real, verifiable and exciting sales growth.