The United States ad revenue hit $34.9 billion in Quarter 1. This showed a 4% increase in the United States ad spend. The Winter Olympics was the main factor in the heavy spike in ad revenue. Aside from television advertising, display advertisements saw the biggest increase in revenue. According to the article, “the Display Internet business was up 13%.” The company with the biggest advertising growth was General Motors.
Nowadays, consumers have an endless amount of choices for certain products. As stated in the article, “Today your customers are really your only source of competitive advantage.” So, what is the best way to target and maintain your customers. The article talks about splitting up your customers into 2 segments: the careful shopper who conducts extensive research prior to making a purchase and the efficient shopper who doesn’t bother with deals and coupons. Once you have your customers placed into the 2 segments, you can adjust your promotional campaign to fit the needs of each segment.
Knowing your competition is an extremely important tactic to implore in order to do well. However, in search, it is a must to know what your competitor is doing. Knowing your competitors backlinks, content and site structure will give you a leg up on the competition. According to the article, “only 40% of marketers integrate competitive analysis insight into strategy.” In contrast, competitive analysis is proven to be successful and companies should be latching onto it.
Marketers should take notice of mobile advertising. For those who are not aware, “mobile display ads can increase brand favorability and purchase intent.” The information on mobile ads are supposed to remind users of what they already know about that specific product being advertised to them. Mobile ads are also meant to be advertised after those initial products are advertised elsewhere in a different form of media. The article states that global spending on mobile advertising is meant to hit $36 billion by 2016.
Social advertising is growing at an enormous rate. That enormous rate is expected to be $11 billion by 2017. The article provides charts on various ways social advertising is heading in the market. An example includes the age group of males and females that are most targeted in the USA. In addition, “71 percent of agencies said that they ran social media ads alongside other online advertising, and 41 per cent in conjunction with offline advertising.”
Pandora, a very well recognized radio station has been known to give their users multiple ads throughout their listening experience. These ads are usually specific to the user’s zip code, which Pandora asks them to enter upon downloading the mobile app. The issue with this is that the zip codes are entered manually by the users. Once a user moves, they will continue to receive advertisements specific to their past location. Luckily for Pandora, advertisers are now interested in running much larger campaigns, nationwide. For now, Pandora has been checking IP addresses of mobile devices and will ask the user to change their zip code if required.