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New advertising tools will help brands make most of $40b spend
Online advertising, forecasts eMarketer, may hit $40 billion this year. That, in itself is headline making news, but of more interest to brands and marketers are the new ways to analyze campaigns and engage the online consumer base.
In the US, online ad spending increased 23% in 2011 to reach $32.03 billion; they're expecting another 23% increase this year which would push the online ad spend to $39.5 billion. If it happens, that would push the online ad spead ahead of the print ad spend for the first time; you can read more in-depth about the forecast here.
Increasing comfort in the online space along with more metrics and targeting abilities are part of the draw to the online ad space. Data from Bizo shows that display advertising, combined with online stand-bys Search and Email marketing can increase the relevance and targeting abilities for marketers, giving them more control over campaign ROI. Those analytics are driving marketers' interest in the online space.
Their findings for display ads include:
• Display boosts form conversions by 30%
• Targeted display ads push event registrations 25%
• Display boost website lift by 46%
• Display + Search = 6% more brand recall
• Targeted display ads increase brand recommendations by 10%
Meanwhile, additions to the analytics side like the new Adometry Ad Analytics Suite, offer brands more ways to analyze campaigns to increase performance.
"Our new advanced attribution technology ensures that digital marketers have the data and automated tools needed to simultaneously invest campaign dollars more effectively across all channels - from mobile, social, video and more," said Paul Pellman, CEO of Adometry. "In addition, with implementation times of as little as two weeks, we're helping advertisers accelerate the ROI for their campaigns."
Using Smart Overlap Reporting brands can identify which websites are redundant and while offer lift while the Practical Frequency Analysis helps identify the number of ads to show a consumer before backing away. The suite also offers audience reports and visibility enhancements to help performance.
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