There always seems to be a new trend in marketing, and along with new trends, come questions from clients. Recently, a client who works in wealth management asked me about online advertising and if it was right for his company. My answer was that it was not the right fit for the company, and we should put our resources into a client-focused marketing campaign. But his question made me wonder: if this client, who was looking for marketing counsel, wondered about online advertising, is it something that should be considered for all clients? Essentially, is online advertising here to stay?
Much like some social media tools, which have been previously discussed on this blog, online advertising is not for everyone, even though its relevance has been gaining momentum. For example, as pointed out in a New York Times article, 2008 had the largest online ad spend ever with more than $23 billion in sales. This number does not demonstrate a trend, but the inception of a another powerful advertising medium. Yet, in the same New York Times article, it indicates that online advertising spending was down 5.4% in the second quarter versus the same time period last year.
Is this a factor of the economy, or does this lead someone to believe that online advertising is just a trend? The article actually explores this very question with experts voicing their opinions. The experts are all in concert in the fact that the decline in online advertising spending is a result of a poor economy. They also pointed out that there were some online sectors that actually grew. These were interactive ads and digital video. This is exciting to see an advertising sector actually grow in a down economy since marketing tactics are usually the first things eliminated when budgets are slashed. It is exciting to see businesses are tapping into creativity to grow a business in tough economic times.
Upon reading this, I have to say I breathed a sigh of relief. I think online advertising presents a unique opportunity for some businesses to reach a targeted audience in a completely different manner. Too, online advertising affords marketers a different forum for creativity. Plus, ROI can easily be measured by click-throughs to a specific page. It appears that online advertising is a winner if it can meet the goals and objectives of an individual marketing strategy.
Yes, online advertising is here to stay; it is not a trend, but a powerful tool that can help specific businesses meet overall sales and awareness goals. Learn more about this study at:
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