The online advertising industry has sealed its spot as an important part of the media world. A report by the International Advertising Bureau has shown that online advertising broke through the $1.5 billion barrier for the first time.
According to the report the internet advertising industry grew by 27% during the 2007/2008 financial year with search and directories leading the way by earning $706 million. Classifieds and display ads also grew over 20% each to reach a combined total of $800 million. The report states that the increase in revenue has been attributed to people spending more time on the internet as opposed to watching television with an average of 13.7 hours a week spent online next to 13.3 hours watching television.
According to IAB chief Paul Fisher, the finance sector was the biggest user of display advertising while the recruitment industry utilised classified ads the most. Mr Fisher also said, “there is still much work to be done to educate and inform the key industries that are not yet comfortable with advertising online”.*
Businesses are continuing to warm to online advertising because of its extensive reach and cost effectiveness compared to other mediums and according to the IAB online advertising and marketing is becoming an important inclusion within a company’s overall marketing strategy.
Through the use of internet technologies, companies are given the flexibility to track and view reports of their online campaigns in real time making it easier for them to see their return on investment and results and make any changes as required. This is a substantial advantage that online advertising has over other forms of advertising methods.
Fast Facts – Examples of online advertising
· Banner advertising
· Online video advertising
· Paid Search – through search engines such as Google and Yahoo
· Email advertising through newsletters and advertising on free email sites like Hotmail
· Comparison shopping sites and shopping feeds
· Pop ups
*Source- The Australian
Monday, August 11, 2008
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