Where to Spend Your Advertising Budget?

 

HOW MUCH WAS SPENT ON ONLINE ADVERTISING IN 2006?

Roughly $12 - $16 BILLION

HOW MUCH WILL BE SPENT ON ONLINE ADVERTISING IN 2012? 

Roughly $51 BILLION

Advertising a company or product can be tough, especially with so many new online options. Finding the perfect advertising strategy takes time and often involves some trial and error. With no “right” way of doing things, companies often worry they are wasting their advertising budgets. So the question is, how do you spend those precious advertising dollars? Well, according to the chief marketing officer for Levi Strauss, Jaime Cohen Sculz, The best place to start is online.

When it comes to online advertising, the first step is testing all the options. Because most forms of online ads are cheap and easy to make, it is cost effective to try each one out and find which produces the best results. Online advertising also allows companies to easily review the effectiveness of their campaigns using tools like google analytics.

That means businesses can see the results of an advertising campaign in real time and focus resources on what works best. Sculz says viral video has been the most effective for his company because of its ability to spark the interest and curiosity of consumers. He also recommends using updates on websites and facebook, as well as ecommerce. These are great places to start an advertising campaign because they all have a low to no initial investment. That means small companies are able to compete with their larger counterparts. It can also mean a jump on the competition because large companies are just beginning to realize the potential of online advertising. There is no guarantee that any ad campaign will be %100 effective. That being said, the best bet for any business is to skip the traditional and dated world of advertising and move into the less expensive and more effective online realm.




Blog Posting By: Tyler Griffin, Creative Director - Mindshift Media
Written By: Brad Girtz - Mindshift Media Blogger