Advertiser’s Look to Make the Most of Their Ad Spend Dollars
Financial Times reports show that 2017 will be the year that advertisers spend more online than on TV. This makes sense right? Before online ads, advertisers were taking a shot in the dark in regards to which TV ads were reaching their target audiences.
In today’s surveillance capitalist world, advertisers have the ability to purchase consumer data compiled from the digital trails we leave on the web. They then use this data to target and reach consumers in a specific market.
This sounds great for advertisers, but the truth is online advertising might be equally as ineffective, especially with the decreasing quality in ad content. In a speech at the annual Internet Advertising Bureau, Proctor and Gamble boss Marc Pritchard, said:
“We have seen an exponential increase in, well… crap. Craft or crap? Technology enables both and all too often the outcome has been more crappy advertising accompanied by even crappier viewing experiences… is it any wonder ad blockers are growing 40%?”
It’s hard to tell who is viewing ads, if they are truly even being seen, and if they are effective. An advertising industry investigation revealed that up to one-third of ads viewed are actually just bot impressions. Until time and money is invested into cleaning up fraudulent practices, online advertising will not be as beneficial as it appears.
Firms may be better off investing their advertising dollars in consumer rewards. By advertising discounts and deals for consumers, they will be able to track return on investment and have a stronger understanding of the effectiveness of their ads.