Online advertising grew in leaps and bounds in 2010, as companies decided to shift emphasis from print to digital media. The trend is expected to pick up speed in 2011 with estimates that online ad revenues will surpass print for the first time – TV, of course, is still the revenue winner. Various studies from agencies around the world have conducted separate studies and found that it’s now more important than ever for businesses to reassess their advertising campaigns to reach the digital generation.
For instance, KF Lai, CEO of BuzzCity, predicts greater budgets for mobile marketing campaigns, more mobile-specific content and integrated campaigns. Richard Mullins, director of Acceleration Media, outlined five trends that he believes will characterise and drive growth in the online advertising market in South Africa:
• Emphasis on quality content.
• Integrated campaign tracking through web analytics.
• Targeted marketing techniques such as behavioural marketing.
• Increased use of video.
• Growth in mobile advertising.
Business research firm eMarketer predicts that spending on online advertising in the US will increase by 13.9% over 2011, while online ad spend will reach $25.8 billion, surpassing print advertising which will only reach $22.8 billion.
Trends such as these are more relevant for developed markets than emerging ones, where print is still the dominant advertising medium. But while growth in emerging markets is slow, it’s steady and as younger generations come to the fore and more people access the net via alternative digital devices, and as bandwidth prices continue to drop, all that could change.
Online ad revenues in China, which vacillates between being a developed and an emerging market, are also soaring. It is expected that by 2012 online ad revenues will exceed print revenues. This would make the online advertising market the second largest in the country, behind TV. Online advertising currently makes up only 11.2% of the market, so for it to be the second largest revenue generator is some feat.
Globally, ZenithOptimedia predicts that online advertising spend will increase by 4.6%, thanks largely to social media and video advertising. According to the report, “The key result of this update is the continued rise of developing markets and digital media, and their central role in driving global growth”.
If you every had any doubt regarding the viability of online advertising, now is the time to cast it aside and sign up with a reputable online advertising and marketing agency.
Article Source: http://EzineArticles.com/?expert=Sandra_Cosser
This author writes about advertising pricing for the leading resource for media, marketing and advertising professionals in South Africa, SARAD.