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Online advertising "overtakes TV"...

By Haydn Rowe

According to a new study by the Internet Advertising Bureau and PricewaterhouseCoopers, online advertising has finally overtaken TV Ad spend.

An article about the study, on the BBC Business News website, claims - "Online spending grew 4.6% to 1.752bn in the first half of 2009, while TV spending shrank 16.1% to 1.639bn".

Online advertising includes e-mail campaigns, classified adverts, display ads and search engine marketing.

So what does this mean for you and your business?

Simple - if you have not at least...

  • Tested Email broadcasting (instead of, or in addition to direct mail)
  • Tested Google AdWords Pay Per Click advertising
  • Spent time creating a profitable website using tools such as Google Analytics and Google Conversion Tracking

...then it is time to wake up, 'smell the coffee' and get involved before your competitors get ahead of you.

This study confirms what we have known for about 5 years now - more and more buyers are starting their search with a few mouse clicks.

If your business can't be found online, and if you can't attract and win new clients online, you are shutting your business off from the market.

This is true whether you are an accountant, a software developer, a builder, a franchisor, a florist or run a hotel and restaurant.

It's true whether you are a local business, or you sell all over the world.

It's true whether you are a 'one man band', or a large growing business.

Online advertising overtaking TV advertising may not mean that much to you and I because we don't use TV advertising to promote our business.

But it does confirm a major trend and change in buyer behaviour that is bringing about one of the biggest changes in SME marketing that we have ever seen.

Many of our clients are now attracting significant chunks of new business and profitable growth by tapping into these opportunities.

Every business owner and manager needs to get serious about online marketing now - before it is too late.

Over the next few months we'll bring you a series of case studies showing how businesses of all sizes and types have opened the floodgates by getting stuck into online marketing.

In the meantime, you can read the BBC Business News article and you can read more about creating an effective online marketing strategy for your business here.

You need to take online marketing seriously - or be prepared to watch profitable business pass you by!

You can also sign up to our free newsletter to get regular information on strategies that will help you get more from your business.

To read more articles related to this go to the Online Marketing section of the Academy.

You will also find other useful articles in Marketing Foundations, Generating Leads, Converting Prospects, Increasing Average Transaction Value and Increase Purchase Frequency.

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