It seems the doom and gloom of the economic slowdown has not quite hit online advertising as hard as some other traditional marketing platforms. The Interactive Advertising Bureau (IAB) announced that online marketing revenue increased 11.4% in quarter 3 of 2008 when compared to the same period in 2007.
David Silverman, a partner at PricewaterhouseCoopers LLP, explains that “a weakening economy will continue to be a challenge to all forms of advertising-supported media. However, the Internet should be better poised to withstand the storm given its ability to combine performance-based advertising along with broad-based branding.”
It’s also interesting to note that although some businesses have put their marketing spend under pressure during these tough financial times, most businesses are not deterred and are expected to actually increase their marketing spend. Emarketer predicts that online advertising spending will reach $25.9 billion in 2008, up 23% from 2007.
Online advertising includes display advertising (banner ads, video ads, etc) and text-based advertising on search engines. If you are interested in trying online advertising for your business, then check out Easy Search Advertising in time for the holiday sales rush.