Online advertising revenue is going up and these two tips will help your online advertising strategy
With advertising sales dropping in the world of traditional print, publishers have turned to the Internet to regain the revenue from online advertising.
This of course is a smart strategy since online advertising revenues have been going up, according to The Wall Street Journal that has cited data from IAB. A recent article from WSJ stated, “U.S. Internet advertising revenue increased 14% in the second quarter to hit a record $6.2 billion”.
The article went on to say, “Internet ads, which like other forms of marketing saw cutbacks the past several years, have been growing ahead of other forms of advertising as marketing dollars went back to work.”
Last week I wrote about how content marketing was getting more funding than other forms of traditional marketing, and now it’s being reported that online advertising is growing as well.
The biggest earners in the world of online advertising has been digital video, according to an article from Mashable that utilized the same data as The Wall Street Journal did. Digital video advertisements were included in the “display-related” advertising category that also includes banner ads and rich media.
Search ads, like ones typically found in Google, also take up a large part of the total revenue generated through online advertising.
So now that there is factual evidence that online advertising is growing and it can mean a lot of added revenue for online publishers, it’s important to know about specific aspects to online advertising that will make your strategy as efficient and successful as possible.
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Two tips for online advertising
Before we get into it, let me stress that these two tips alone won’t revive an online advertising strategy. There are other components that Dan Ambrose will cover during his 90-minute webinar on November 2nd. This webinar is entitled Maximizing Online Advertising Revenue and similar presentations by Dan have been huge hits in the past. If you can’t wait until Dan’s presentation on November 2nd, you can check out his Internet Advertising Basics webinar on-demand in Mequoda Pro.
Now, here are two key components to online advertising.
Online Advertising Tip #1: Market Focus and Penetration – First of all, you have to consider the market in which you reside. Is your market a commercial market that has advertisers already? Is there a lot of competition? If it’s a market that fits for commercial advertising and doesn’t have a lot of competition, you’re in luck.
Be sure to ask yourself, “Am I important to advertisers because A. of my critical mass of reach, or B. the content I have is better targeted than others?
Advertisers want targeted niches where consumers are excited to buy products.
Online Advertising Tip #2: Market Purchase Value – When an advertiser makes a sale in your market, is it highly profitable? If you’re in the automotive industry, then sales surely are profitable. If you’re in the flower business, chances are they aren’t.
Also consider if there is a high lifetime value of customers acquired by advertisers. Will these consumers continue to spend money on similar products for years to come? If so, you’re advertisers will be ecstatic with you.
For more about online advertising and how to create a successful online advertising strategy, join Dan Ambrose for our Maximizing Online Advertising Revenue webinar on November 2nd.