The Changing Pace of Advertising
The world's advertising agencies are constantly looking for a way to reach their clients' targeted audiences. With the rise of digital advertising, a change has occurred in the way that marketing is conducted. With mobile devices leading the charge, ads can be presented at any moment and any given place. This shift in advertising is changing how consumers interact with companies but also how those companies make money from these interactions. With new analytics tools and other methods employed by advertisers, it has become easier for businesses to decide which platforms are most effective for their advertisements to be displayed. Some of these changes have been positive others less so; but one thing that cannot be denied is that this pace of change will continue as time progresses on. (Fernandez-Granda)
The act of advertising has gone through many changes since it was first introduced in the nineteenth century. Marketing campaigns have come full circle from being very unassuming to the megaphone that is currently used to get a business' name out there in the world of commerce. With all that has changed, the age old question of how businesses will continue to make money is still around. In recent times, advertisement revenue across all forms of media has declined as a result of companies using new analytics tools and methods such as search engine marketing and pay-per-click advertising. The internet first introduced targeted ads that could present themselves at any given moment without much effort on behalf of consumers. So when it comes to making money, the internet has had a huge effect on changing the face of marketing. It has also had an effect on how consumers interact with companies and as a result, how these companies make money themselves. (Awmiller)
The first major change in advertising occurred when businesses started to target their market not just by location but by age and gender as well. This was made possible through the use of the internet; which allowed for said data to be cross-referenced with information about age, gender, location and time spent online by consumers. This led to the profiling of consumers and gave companies the ability to display advertisements at the most effective time.
The second major change in advertising occurred as a result of search engine marketing and pay-per-click advertising. Search engine marketing, also known as SEO, allows companies to advertise themselves using their websites or blogs they control or participate in by paying those who do. With the use of these tools, businesses can see how consumers react to their advertisements and tailor their ads accordingly. This acts as an advantage since it allows businesses to know what features should be included in their advertisements so that they will be most effective for said ad to be shown at any given time on any given device.
The third and final major change in advertising occurred when mobile devices became the most popular. Mobile devices' ability to be used at any given time and location is a large advantage for both businesses and consumers because it allows for marketing to happen more frequently than ever before. This change in advertising also allows for advertisements to be re-purposed, making it easier for consumers to find what they are looking for from their mobile devices. This ease of finding information has not only helped businesses make money, but also helped consumers find what they want when they want it. (Fernandez-Granda)
The rise of digital advertising has affected how companies target their customers as well as how those companies make money off of their customers' information. The increased speed of information transfer has made companies able to better cater to their customers' needs. This has also given the companies the ability to make money off of the increased amount of information they have access to regarding those same customers. The internet and mobile devices have played a huge part in how businesses conduct advertising campaigns; but so has pay-per-click advertising and search engine marketing. It is through these tools that businesses have been able to learn what their customers are looking for and what will attract them enough for them to purchase said advertised item.
With new analytics tools and methods such as search engine marketing and pay-per-click advertising, it has become easier for businesses to decide which platforms are most effective for their advertisements to be displayed. This has had a positive effect on companies' revenue as well as the amount of revenue they make off of paid advertisements themselves. With increased online advertising campaigns, targeted advertisement at any given time has also led to companies being able to know how consumers interact with them on an individual level rather than just in the aggregate. This is important because it allows businesses to determine what features are needed in their advertisements so that they can be more effective at attracting consumers. This has allowed companies to tailor their advertisements to the needs of specific consumers, which in turn allows them to make more money by advertising their products. (Awmiller)
Advertising has become a multibillion-dollar industry. The amount of advertising dollars spent annually increased 91% from $196 billion to $371 billion between 1995 and 2005, according to data from the Advertisers' Expenditures on Advertising Study. In 2011, nearly $450 billion was spent on advertising in one year throughout all media channels in the U.S. (Awmiller)
Digital advertising is an effective tool for marketers to reach their customers; 15% of online users have bought something online after being exposed to an online advertisement. This means that 78 million people who are online in the U.S. are likely to have bought something by chance after seeing a viral ad on Facebook or Instagram. (Awmiller)
The Internet and mobile devices are playing a huge part in how businesses conduct advertising campaigns; but so has search engine marketing and pay-per-click advertising. It is through these tools that businesses have been able to learn what their customers are looking for and what will attract them enough for them to purchase said advertised item. The increased speed of information transfer has made companies able to better cater to their customers' needs. This has also given the companies the ability to make money off of the increased amount of information they have access to regarding those same customers. The speed of digital advertising makes it efficient enough for businesses to target their specific type of customer with very little wait time. With this targeting, businesses will be able to create ads that will be most effective for said advertising to be shown at any given time on any given device; which is another advantage since it allows businesses to know what features are needed in their advertisements so that they can be more effective at attracting consumers.
Digital advertising has also changed the methods of acquiring customers. The internet and mobile devices have worked to make businesses more efficient at acquiring customers by making it easier to find their customers with ease. This has lead to an increase in the amount of money businesses are able to make through paid advertisements, because they are able to learn which advertisements work best for their products and services. This has given companies the ability to reach consumers on a more personal level as well as increase their profitability from that increased information being collected from those same consumers.
The internet and mobile devices have played a huge part in how businesses conduct advertising campaigns; but so has search engine marketing and pay-per-click advertising.
Conclusion
The internet and mobile devices have played a huge part in how businesses conduct advertising campaigns; but so has search engine marketing and pay-per-click advertising. It is through these tools that businesses have been able to learn what their customers are looking for and what will attract them enough for them to purchase said advertised item. The increased speed of information transfer has made companies able to better cater to their customers' needs. This has also given the companies the ability to make money off of the increased amount of information they have access to regarding those same customers. The speed of digital advertising makes it efficient enough for businesses to target their specific type of customer with very little wait time.