According to a recent article in Techcrunch, Online advertising grew 10% in the fourth quarter of 2009. The post attributes the growth primarily to search related advertising (AdWords, AdCenter, Yahoo Search Marketing). But the post also mentioned that display advertising (banners) also had a strong finish.
Traditional Media Not Faring as Well
Not so coincidentally, traditional media continues to suffer. A recent article in the Denver Post reveals that magazine purchases at newsstands and other retail outlets dropped 9% in the second half of 2009 after dropping 12% in the first half of the year. The actual number of ad pages dropped 26% from 2008 to 2009.
From the Article:
"the weak economy continues to batter the magazine industry at a time when consumers have plenty of free reading alternatives available online"
It is clear that traditional media - newspapers and magazines in particular - will have to adjust their revenue models in order to survive. The ad revenue is currently being diverted to online sources - because that's where the readers are.
How Does this Help Me Market My Denver Small Business?
Online advertising revenue is up - while traditional media advertising is slumping - but why?
Because Online advertising for small businesses works and almost always provides a better return on investment than traditional media advertising. Denver small business owners can create highly flexible online advertising campaigns that generate results immediately. Online advertising provides instant statistical feedback so that you can improve upon what works and eliminate what doesn't. Online advertising also has the ability to reach potential clients at the exact moment that they're looking for the services that you offer.
Should Denver Small Business Owners Abandon Traditional Media Advertising?
Not Necessarily
If you're trying to market your Denver Small Business, you need to put your advertising dollars where you get the most return on your investment. This doesn't necessarily mean that you shouldn't advertise in newspapers, magazines, or even the phone book. Stick with what works, and eliminate what doesn't. If you aren't currently exploring online advertising, you're probably missing out on the highest return on investment potential of any of your advertising options.