Online Advertising – A cost effective way to stay ahead during the credit crunch!
The credit crunch has put financial strain on everyone over the past few months and will no doubt continue to do so well into next year. For any business this is a worrying state of affairs and the importance to remain ahead is challenged by the lack of available funds to support this. The internet could be the answer.
The UK has the most active online population in Europe, with the highest average number of daily visitors (21.8m), the highest usage days per month (21 per user), and the highest average time spent per month per user (34.4 hours).
The average British internet user now spends 164 minutes online each day for personal use, the equivalent of over 41 days each year. This compares to 148 minutes spent watching television.
Key Differences Over Other Media
- Highly targeted
- Growing as opposed to contracting medium like magazines and TV
- Contextual and behavioral advertising capability
- Low cost reach and richness
- Highly measurable results
- Offers high and fast ROI
The above chart clearly shows the leading online channels at this point in time although these are constantly changing.
In terms of what people are doing online there are four leading activities:
- The use of search engines
- Keeping in touch with family and friends
- Instant Messenging
- Gathering information
Evidently the main websites that need to be targeted are social networking sites and the big search engines.
Google is the largest search engine site, averaging 25.1 million UK visitors each month according to Nielson Online (Feb 2008). This is clearly an important site to target when planning any advertising strategy for your company. By simply being at the top of their results lists for example, will prove highly advantageous in attracting new customers for next to nothing cost wise. This means that when words associated with your brand are entered into the search engine we can make you appear in the top three results. Being in the top three results of a website such as google, which is favored by over half of web users, is a huge advantage over your competitors.
In a different field social networking sites such as Facebook and Bebo are gaining numbers all the time and now over half of the UK’s 16 – 24 year olds actively contribute to and use social networking sites. This increase in online activity is interesting as it means that young people are turning their backs on television, radio and newspapers in favor of online communities which could mean the decrease in television’s power in the future. Advertising on these sites is incredibly cost affective due to the details that are available to us about the people we can target. This means less money wasted on advertising to the wrong people. This will obviously save you and your company a significant amount of money.
As you can see the internet is a force which needs to be reckoned with. The sheer number of active internet users is reason enough but regardless of this, getting a firm hold of the online market will be an important development for any company due to its growing influence and shaping of our society. The fact that it will be significantly cheaper than other advertising is a bonus that is perfect considering the current economic climate.
By utilizing Fivesite’s expertise and skill in online marketing you can breathe new life into your company’s future prospects, allowing you to continue to grow and develop despite current economic limitations.