TV was king. National accounts would pay – and still will pay – millions for prime spots in super shows like the Super Bowl. However, there is definitely a switch. Online advertising is projected to overtake television spending in 2016. Here are 6 facts to consider.
1. 5 Years Make a Big Difference. In 2012, 41 billion (yes, that’s billions) were spend on online advertising while television raked in 64.8 billion. By 2014, the gap was narrowing with 58.5 billion spent online and 67.8 going to TV. What’s next, 2016 spending is projected to hit 76.6
billion online against 72 billion on TV. It’s losing ground against the internet but, overall, TV spending is still projected to grow in 2016.
2. Search Advertising will still be king with a projected 43% of the spending or 33 billion. However, it’s starting to lose ground share-wise. It is expected that it will garner a 41% of total funds against its previous 55%.3. Display advertising. It’s the next big gun on the Internet. Like TV, it can include image-oriented content to build the brand. While it’s been about 36% of Internet spends, it is expected to pick reach $28 billion in 2016 and pick up another full percentage point of the total.
4. Mobile. Who would have thought it back when a cell phone resembled a shoe box, but now it’s a purchasing portal. While it garnered 11% of Internet spending, it is expected to be a hot product with BIG growth potential.
5. Social Media. Look for it to take about 7% of the total of Internet business. It’s a good place to grow a customer base and many Facebook users report that their Facebook friends influence their purchasing decisions. But, it’s not all about Facebook – social media offers many outlets for the advertiser to find their most-likely client.
6. Email. We use it every day but it comes in last in Internet spending with only 3% of the total.Too easy to zap? Too much clutter? Don’t rule out using it to bring a customer back to an abandoned cart or to reach your current customers!
It’s a changing market for sure. Twitter just picked up the rights to stream NFL games which hardly seems possible. The power of digital marketing is immense but it may feel like a jungle that you have to crash through to find the right place for your company. You had a professional tape your TV ad; Internet has its professionals too. A good digital marketing agency can help you target your marketing to take your message to your customers at the right place and in the right way. It’s like using a machete to clear the path to success online.