How Display Can Help Your Business in 2015
First, let’s answer the question: what is online display advertising?
At a very basic level, display advertising is a form of online advertising that uses ads or banners that include logos, text, pictures, video, etc. Online display advertising is like a magazine ad, but that is on the internet, and has the flexibility to be static, animated, interactive, or video. Some of the best things about online display advertising is its targeting capabilities (such as demographic, geographic and behavioral), its ability to hone in on the audience that you’re trying to reach, and its tracking capabilities (impressions, clicks, sales/leads).
Online display advertising is a great way of increasing your business’ brand awareness and driving traffic to your website or social media page. As I mentioned above, this type of advertising can be highly targeted and can bring a strong return on ad spend. Display advertising through LinkedIn is a great example of how you can target by location, gender, and even job title to reach a specific group of potential new customers.
Depending on what your campaign’s KPI’s are, you can expect a click through rate of anywhere between 0.07% up to 3% or 4%, depending on the target audience, how eye-catching your banners are, the sites that your ads are showing up on, as well as the content and engagement on the landing page that you’re sending your traffic to.
So What’s So Great About Online Display Advertising?
There are a lot of things that I think are great about online display advertising, but here are just a couple:
- Ads have a larger scope – Display ads are served on websites that have content that aligns with your business and not on search engines. The scope and reach of a display ad is much larger than paid search because impressions aren’t being triggered by a keyword search. This means that your display ads aren’t being limited to only users that have actively searched for your product or service. Your display ads can appear on like websites, exposing your brand to a completely new audience that is higher up on the consideration funnel:
- Digital marketers have more control – Online display advertising is driven by data. We can know where an ad is appearing, the demographic makeup of the audience that ads are reaching, insights into impressions/clicks/page views, etc. and then make changes to a campaign based on the data that we’re seeing. Tracking data, specifically through Google’s DFA platform (an ad management and ad serving solution that Wakefly uses to track all display campaigns) is incredibly detailed. We can drill down to the pages that are driving traffic and conversions, and then poor-performing sites can be removed from the campaign and their impressions pushed to sites who are performing. All of this means more relevance for you and your brand, which means better ROI!
Where Is Online Display Advertising Spend Going in The Future?
According to Forrester Research, spending in online display advertising in the US will nearly double over the next five years. New forecasts issued by the company predict total US online display ad spending will reach $37.6 billion in 2019, up 90% from $19.8 billion in 2014. Meanwhile offline, or traditional, ad spend will increase at an average annual rate of 1% to reach $239 billion in 2019.
Source: Forrester Research Inc.
“The growth in online display will be driven largely by increased spending on video advertising…For example, video advertising on desktop devices alone is expected to grow 21% annually until 2019, when it will contribute 54.6% of total desktop display ad revenue across the Web…Mobile is expected to prove another high-growth area. Display ads targeted at smartphones and tablets will account for nearly 40% of all online display ad spending by 2019, up from a predicted 24.4 percent share in 2014.”