Online Advertising space has exploded over the years. A lot of factors go into its growing by leaps and bounds
a. Internet size has increased drastically
b. Mobile penetration and connectivity
c. Measurable Returns wrt offline advertising.
Let’s look at a few of the top Advertising platform for businesses.
1. Google Search & Display Advertising
Did you know Google display network reaches 90% of global internet users * com score. This was the first advertising platform which gave solutions for all types of businesses, starting from small to big multi-business corporations. Google remains the number one choice for businesses as its preferred advertising destinations because of its robust Adwords platform.
2. Facebook/ Social Media Advertising
More than 1.2 billion interactions are on Facebook, twitter and other social media websites. This number is staggering and businesses have their work cut out to reach these people directly. Imagine a big company trying to reach these people through traditional modes of advertising, it would cost them billions. Also small businesses can now connect with people without much investment.
The advertising platform on Facebook and others is growing and still not ready for full-fledged exploitation.
3. 3rd party display advertising & remarking
The pay scale definitely for publishers is low on google, hence the advent of new independent alternative to google. Media houses, popular domain specific websites offer these solutions. Some of the popular solutions are
The technology involved in these Ads display is far more innovative than google advertising. Rollover ads, POP ads & flash ads have been started on 3rd party network.
4. Video Advertising
Do you know YouTube is the 2nd biggest search engine in the world and not Bing? YouTube is a phenomenal & most powerful medium of recent times. On an average people watch 20- 24 minutes of YouTube content every day and plus this medium gets undivided user attention when compared to other medium. This is a massive space where businesses should invest in advertising. The ad platform on YouTube & Vimeo started recently but is growing day by day.
Video advertising is mostly suited for medium and large business currently. Small businesses and freelance, I would recommend wait for some time before investing on this medium.
5. Content contextual advertising
Blogging and micro blogging space is one of the biggest chunks of information. Millions of blogs and articles are written everyday on different genres. With contextual advertising businesses can take advantage of this medium and promote relative products or services. Some of the solutions providers are
Spoilt with so many advertising solutions? The problem that arises is what works and what do not for your business. Not all these mediums will work for you. So how do you calculate the effectiveness for your investment? Here are my top 3 suggestions you can follow before investing.
1. Decide what you want: Branding or Sales. Both should not be combined during budgeting. They can run parallel.
2. Under Pay: Most of the advertising medium offer cost effective solution that does not mean you should only invest that much. Kindly consult your advisor or consultant to find out what’s the optimal budget for impact
3. Precise Targeting: Online medium gives you lot of options to target your potential audience through age, area, status, gender etc. The trick here is the more specific you are the better returns you get in branding and also in sales.