Digital will soon be the leading medium
Advertising has reached a tipping point according to the Kiplinger Letter with the digital media soon taking over as the leading form of advertising. It currently grabs over 40% of spending and is growing rapidly, poised to overtake traditional media – TV, print, and other forms of traditional advertising formats. How can businesses spend ad dollars wisely? Here are some key trends and timely tips.
Google and Facebook dominate digital, accounting for 58% of online ad spending. Google’s share is 37%. Facebook accounts for 21%. Amazon is in a distant third place with 4% of all ad dollars online, but it’s making a major push and has room to run.
On social media, flashy visuals rule the day. Video ads are proliferating and are about to be 25% of all digital ad spending. Facebook-owned Instagram, of all digital ad spending. Facebook-owned Instagram, a photo-sharing app, is seeing torrid video ad growth.
Digital upgrades are helping tV and radio, making it easier to tally audiences and improve ads. Traditional TV viewers will dip slightly in years ahead, but TV delivered over the web is growing swiftly. Radio has received a boost from web-connected speakers.
Print will continue its decline in ad spending. Trade publications will tend to hold steady, though.
Billboards, digital displays and other out-of-home advertising are growing in terms of dollars spent. Tech giants such as Apple and Netflix have spent heavily. Other areas gaining traction: Video games, movie theaters and podcasts.
Some advice for sellers trying to navigate the fast-changing ad landscape:
Go where your customers are. For niche audiences: social media, search or display ads on Google and Amazon, infomercials on your website or event hosting are good choices. Targeting other businesses? Skip other social apps and try LinkedIn.
Focus on improving mobile sites as more web surfers rely on smartphones. Sites have to load fast and the buying process has to be simple, as finicky customers will ditch a slow mobile site in a heartbeat. Keep video ads short and text minimal.
Save money with do-it-yourself advertising by cutting out the middleman. Both google and Amazon are focused on making it easier to place your own online ads.
Try Amazon if you haven’t before. Its conversion rate…the portion of people who click or buy…is far higher than Google’s. Folks on Amazon are in a buying mood.
Keep an eye on ad tech upgrades to television radio and other “old” media. We expect coming changes to make it much easier to target the customers you want.
Amazon’s potential growth seems greater than that of Facebook or Google. Amazon will nearly double its online ad share by 2020, stealing from the two leaders. While Facebook and Google rely on ads for nearly all their revenue, Amazon doesn’t
Note that governments are likely to be a headwind because new tech taxes are being proposed. The UK, for instance, is planning a new levy on big tech firms.
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