Need another reason to double down on online advertising? Read on. According to the Interactive Advertising Bureau (IAB) online advertising revenues have hit an all-time high in the 3rd quarter of 2012. In a press release published this morning, the IAB stated that:
Internet advertising revenues in the U.S. reached $9.26 billion for the third quarter of 2012, making the quarter the biggest on record, according to the latest IAB Internet Advertising Revenue Report figures released today by the Interactive Advertising Bureau (IAB) and PwC US. These figures show an 18 percent climb year-over-year, in comparison to Q3 2011’s $7.8 billion. In addition, they mark a 6 percent increase over the Q2 2012 figures of $8.72 billion.
You can check out the full press release as well as a graph illustrating the quarterly revenue trends from Q1 1996 – Q3 2012 here.
These numbers not only cement advertisers’ strong faith on online channels, but they could also indicate that the Internet advertising industry will have a strong Q4.
Where You Come In
The above numbers certainly spell good news for the digital advertising industry as a whole, but at micro level, the news also has some significant impacts on regular advertisers and publishers.
Advertisers – Companies that want to see more results from Internet ad campaigns should explore more innovative solutions. There’s no doubt about the fact that your customers ARE online. The only question is how are you going to effectively reach them? Businesses that really want to touch base with the right audience need to ramp up their reach. Want to get in front of more potential customers? Then make an effort to be in more places.
Look into the various advertising channels that you can get into. Use Cross Channel Advertising to get in front of users across multiple platforms and devices, including social media, mobile, search, apps, video, and more. Users after all, aren’t sticking to one medium or channel anymore, so neither should advertisers.
Publishers – Online content creators on the other hand, can make the most out of this ad spend surge by producing articles, photos, or apps on a regular and continuous basis. The more content you have out there, the better chances of you getting more traffic.
However, it’s important to note that content should NOT just be about quantity. The quality of your content plays a crucial part in getting and keeping traffic, so make it good. Whether you’re putting out blog posts, producing videos, or developing apps and toolbars, be sure to invest in quality and provide as much value as you can to users.
Publishers should also remember that there’s more than one way to monetize content. Don’t just stick to one online revenue stream. For instance, if banner ads are working well on your blog, consider mixing it up a bit by adding contextual or intextual ads as well. Test how the advertisements will perform, and adjust your campaign accordingly.
Ultimately implementing your ad campaings is all about being more creative and cooking up out of the box ways to reach and keep users.
Image credit: Horia Varlan on Flickr