Its official according to the Internet Advertising Bureau, internet advertising revenues have reached $8.4 billion dollars in Q1 of 2012. If you don’t have a calculator by you that is a 15% increase over the 7.3billion that was done in Q1 of 2011.
What this means for your business?
The internet is continuing to become a media choice for consumers. Even during all the Google updates companies are spending more money and time towards an effective online marketing and SEO campaign.
It is safe to say that the growth is due to the general growth of the internet usage. More consumers are getting comfortable buying products, goods, and services online and are turning to the internet for more and more support to find what they are looking for.
The growth is significantly due to an increased spend on online video, social media marketing and mobile marketing. As search engine is evolving and not the only way to gain new business. Being online is only half the battle, being optimized in all other aspects is the biggest battle.
When stats like this come out, I think it’s a good way to evaluate your marketing spend to determine if you are budgeting enough toward online marketing, is your spend efficient, and how can you improve. These types of reports are obviously not the end-all be-all of how you should spend your advertising dollars, but they do provide a good benchmark.