Enormous Growth of Internet/Online Advertising
Posted by Shazia on May 30th, 2019
With people spending most of their day staring at a screen looking for products, people and places, it is crucial for businesses to use Internet advertising. Marketing is constantly shifting towards online from offline. Mobile technology has made Internet penetration deeper, which is boosting the online advertising market. Advertisers are making use of this platform to reach their targeted audience. It is relatively inexpensive compared to the traditional advertising methods and helps in reaching out to a wide range of audience. Reports indicate that 80% of the social networking companies generate revenue through online advertising. However, dependency on the Internet is growing as it is the ultimate source of information and communication, making it a leading advertisement platform.
Machine learning can analyze a huge amount of data about the customer and determine the best times to contact the customer. It can also analyze the content that generates more clicks. This helps to understand the customer in a better way and pave the way for new approaches.
Online advertising is preferred by many of the businesses as it helps in reaching out a large number of customers and helps to expand their business in an effective way. It is faster compared to the offline advertising activities and has a wider geographical reach along with the potential to benefit consumers through more relevant and timely advertising.
In online advertising, the advertiser is able to convey more information to the audience at less cost. Online advertising helps in getting rid of the traditional advertising strategies which include flyers, cold-calling, brochures, and banners.
Types of Online Advertising
Different types of online advertising include paid search advertising, social advertising, native advertising, and display advertising. Paid search advertising and social advertising are an ongoing trend as it is preferred by many of the customers.
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Some of the Ongoing Trends
Paid search advertising also referred as search engine marketing works based on keywords. Businesses bid for keywords to make their website visibility higher on the search engine results page. Paid advertising include pay per click (PPC) and cost per thousand (CPM). PPC is the best way in which it charges only when people click on the ad. CPM is the way where it charges a particular amount for a number of shows on SERP.
Challenges of Online Advertising
Customers browse through 500-1000 ads every day. Advertisers should also be able to fulfill the consumer needs at any moment and incite them to get into the store and buy.
Year-on-year there is an increase in the amount spent on mobile advertising. An approximate value of m was spent on mobile advertising to access websites through mobile devices and this expenditure is expected to increase by 190% year on year.
World Wide Web is increasingly becoming a standard advertisement platform, with the growing number of Internet users. It offers the business advertisement world with richer media tools and interactive services with a global reach. Internet advertising is essential and is becoming a more habitual and necessary practice. Almost, every business will require an online marketing strategy to remain competitive in the near future.
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