Big Four auditor and multinational professional services corporation Pricewaterhouse Cooper (PwC) forecasts that internet advertising will pass broadcast advertising this year.
That’s a big swing that includes an estimated $720 billion in ad buys by 2020. This move to the internet reflects where major advertisers believe they can get the most bang for their buck.
This should be welcome news to any internet marketer in that it affirms your decision to compete in this space. Yes, it also means huge competition, but competition is something you can handle by deftly differentiating your products and services from other products and services.
In their annual Global Entertainment and Media Outlook report, PwC asks three questions that are relevant to your business:
- How can we break through all the noise and retain consumer attention?
- How can we use data analytics while establishing trust?
- How can we continue to innovate while staying true to our authentic voice?
One of the challenges of an ever-increasing ad environment is how to cut through the clutter and get our message out effectively and efficiently. Effective advertising grabs attention and compels your audience to look at your wares and purchase them. Efficiency means keeping your ad costs low.
Data analytics is one of the ways that you track your effectiveness and efficiency. Data analytics give you a snapshot of where you are in your advertising and business moment to moment and they help you develop a better picture of your business future.
Innovation is a key component to any thriving business today. Are you either creating new and exciting products, growing in your ability to service your clients, or selling affiliate products that help your buyers make significant headway with their businesses?
The internet advertising space will continue to grow, but that doesn’t mean that you will necessarily be pushed to the sidelines as the mega-advertisers swallow up more and more market share. It does mean that you need to be the best advertiser that you can be.
If you need help with this, you know where to go.
I invite your comments and questions, your likes and shares.