The world of advertising is constantly changing. As more and more channels are competing for the advertising dollar, this industry has become increasingly competitive. Years ago, there was a limited amount of newspapers, magazines, TV and radio stations. Today you have a newspaper in every city, town and college campus. There are magazines that cater to every possible demographic, radio stations that have multiplied due to the introduction of satellite radio and the number of TV stations has also increased, with the cable and satellite companies offering up to 500 channels for your viewing pleasure, right at your fingertips.
With Americans watching more than 150 hours of TV a month, it is not surprising that TV advertising leads the way as the #1 advertising media expenditure. But, #2 is now online advertising. Online advertising grew by 15 percent—a record $26 billion in 2010—in comparison to the year prior, and spending levels are now surpassing pre-recession figures. It has far surpassed newspaper revenues, as a consumer no longer has to wait until Sunday to see where and what specials are available to the public; they only have to log online and do a google search, or join a group-buying website to find those specials deals.
I believe that advertisers should use a variety of methods to reach their target audiences. There isn’t a one-size-fits-all approach to advertising. But, I do believe that online advertising will continue to be an attractive option for advertisers. The reasons are that online advertising is cost-effective, you can tailor your advertising to your desired demographic and the results are measurable. It only makes sense that companies increase their online efforts, and to those who are on the outside looking in, get in the game soon.
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