Stat Watch: The Heyday of Digital Advertising
Advertising is one industry that the Internet has significantly and forever impacted. As technology becomes more sophisticated, so too have the ads that cover the Web – and it’s resulting in big profits.
Keeping an ever-watchful eye on the Internet advertising industry, the Interactive Advertising Bureau (IAB) recently released its latest interim report, revealing that Internet ads generated a historic high of $12.4 billion in Q3 2014 - just beating out the previous high of $12.1 billion in Q4 2013.
What is driving the current boom? Why is this the heyday of digital advertising? From display and search to social and mobile (video too), advertisers have never had more (or better) opportunities to reach consumers. And, the savviest advertisers are those changing up their approach and meeting consumers where they are.
During the 2014 holiday season, for example, advertisers directed 49 percent of their paid search budget to tablets and smartphones, according to Marin Software, and their efforts paid off. Mobile devices accounted for 39 percent of all clicks on paid search ads and the click-through rate of search ads on smartphones was 38 percent higher than on desktop ads.
Remarketing is another example of an advertising tactic that addresses the many devices and channels that consumers use/visit, from mobile and desktops to social and email. As consumers move from device to device and from channel to channel, remarketing keeps brands top-of-mind. So much so that Wishpond found that website visitors who are retargeted with display ads are 70 percent more likely to convert, proving today’s sophisticated advertising technology is doing its part.
Do You Plan on Spending More or Less in the Coming Year on Digital Advertising? Take the Survey @ wsm.co/adspendqs