I'm a bit weary of writing about it, so let me summarize (in my own words like Mrs. Johnson told me in sophomore English).
- The rate of growth in online advertising is steep which is creating a lot of opportunities for those who figure it out.
- According to a survey by Marketing Sherpa, the combined spend for paid search and online ads for a recent 12-month period is estimated at 12.2 billion dollars. This is substantial but to give it perspective consider that the spend for direct (postal) mail alone was $58.7 billion, newspapers $30 billion, and even local radio rang in at $15.5 billion. But online is growing the fastest and is in fact eating into ad spends for many other mediums including television.
- According to Jay Adelson of Digg and Revision 3 fame, forget trying to build Internet video around the Flash player. You're going to need something portable and something that will work well with that big flat screen hanging on your living room wall.
- Carla Hendra of Ogilvy had a lot of great points including:
- Video is the new television
- Text is the new print
- Ubiquity is the new exclusivity
- Mobile is the new outdoor
- Jed Nahum pointed out some great features of Microsoft's Online adCenter Labs (check it out).
- Andrew Goodman of Page Zero Media had some great content about maximizing paid search ROI. Search advertising is mainly about ROI, not just click-through rates. He also relayed many of the useful features of Google's Website Optimizer tool.
- And Joel Greenberg of Electric Sheep presented some very creative ideas of what his firm is doing to bring advertising to virtual worlds such as Second Life and There.com.
Well, that wasn't exactly a summary in my own words. Sorry Mrs. Johnson.
It's critical for advertisers to understand the online world. Those who can help organizations properly strategize utilize this medium and integrate it with other traditional and new media platforms should have a very bright future.