What really has shocked me for some time is the great divide between spending on online marketing and the percent of media consumed online. Did you know that over 60% of all media is now consumed online yet a mere 15% of advertising budgets is spent on online marketing? Crazy math that just does not make any rational sense, I know. Well, the tides are changing and business owners have woken up to smell the virtual coffee. Their vote of confidence comes in the form of additional revenues being shifted to online marketing campaigns (READ: more marketing investment going to online versus traditional media).
“More than one in every four local ad dollars spent on digital by 2016.
According to local advertising research firm BIA/Kelsey, US companies will spend an expected $136.2 billion on local advertising—including traditional, online and mobile—this year. That number is expected to climb steadily toward $151.3 billion by the end of 2016.”
BIA/Kelsey claims “total US local ad spending is expected to grow slowly but steadily over the next four years, digital ad spending will enjoy double-digital growth each year, while traditional investment remains relatively flat.” None of this should be new News to you, right? I am sure you have witnessed first-hand the digital revolution and the new clients who said “I Googled you”. It is a trend that is only getting larger and larger as more and more of us are glued to the Internet and our smartphones to make purchase decisions on the next TV we buy or the restaurant we will take our spouses to this weekend.
Now the question is will you move more of your “comfortable” budget to a more effective online strategy that you may or may not fully understand? Why or why not?
About Alan Moore: Alan is an Internet Marketing Consultant with ReachLocal Baltimore. His mission is to help you increase your revenues and decrease unproductive advertising expenses through proven, online marketing strategies. He manages over $1,600,000 in yearly marketing budgets and has worked with local businesses, agencies and the US government. Give him a call at (877)655-3438 to schedule a Free Online Marketing Consultation.
To read more of the article that inspired this blog, please visit: http://www.emarketer.com/Article.aspx?R=1008935