As economies recovered from the real estate-fueled bubbles in much of the world, 2010 saw a surge in advertising, and more precisely digital advertising. Online ad revenues jumped to $26 billion in 2010, in stark contrast to the 3.4% decline of 2009. 2011 then saw a 23% increase in advertising revenue as it hit $7.3 billion in the first quarter. (1) The overall numbers of 2010 were impressive as search made up 46% of the total and was followed by display ads at 38%. However, display ads showed remarkable growth in 2011 (24% vis-à-vis 12% year on year) and Karsten Weide of IDC says display ads are growing much faster than search ads. (2)
Heard the saying “make hay while the sun shines?” This is your opportunity to make hay. The world of display advertisements now looks so promising that only the blind will miss it. But before you seriously consider putting any egg in this basket, read our field guide to display ads.
What kind of advertising?
Online advertising is a versatile medium and any of the following modes, or even a combination of these types can work for you:
Email marketing: Email marketing is directly marketing a commercial message to people using electronic mail. It can be done through
- Newsletters: These are direct emails sent out on a regular basis to subscribers
- Transactional Emails: These send out transactional information about the action that caused it, and have 51.3% open rate (3) and therefore are more effective than newsletters
- Direct Emails: Sending out an email to pass on a promotional message
Mobile Advertising: Mobiles today are complicated devices akin to a little computer. Advertising on mobiles is estimated to grow at a compound annual rate of 43% to € 8.7 billion in 2014 (4). Types of mobile advertisements include:
- Mobile Web Banners
- Mobile Web Posters
- SMS advertising
- MMS advertising
- In-game advertising
- Audio Jingles
- Full-screen Interstitials
In addition to these, there is the option of using small banners in Messengers, ads in Internet TV (a relatively uncharted territory still) and Adware. What you will use depends on your product and your budget for placing the ad, but usually a combination of some of these methods work well for effective marketing.