A report issued by e-Marketers highlighted that online advertising is expected to increase 23.3% to $39.5 billion, while print advertising will shrink by 6% to $33.8 billion.
Major newspaper circulation has been declining over the past decades along with magazine sales. Fewer subscribers mean less advertising revenue. The old classified section of the paper used to bring in significant revenue. Now, many of those customers use Craig’s List and e-Bay.
Online advertising can target better than most media. While I don’t sell advertising on the Business Proverbs blog; if I did, I would offer the Christian business market an attractive advertising opportunity, targeted to a narrow segment.
If you sell gardening supplies, you can buy ads on gardening sites. However, if you use the internet; you can target your market more specifically. If you sell tomato seeds, advertise on tomato grower sites.
If you live in northern climates, advertise on cold climate gardening sites. The opportunities for effective online advertising continue to grow. The network TV and print media still offer large opportunities, but for a very diverse base. Advertisers pay for coverage that doesn’t bring in customers. Online advertising allows you to pay for a targeted market.
Scripture relates that “The war between the house of Saul and the house of David lasted a long time. David grew stronger and stronger, while the house of Saul grew weaker and weaker.” (2 Samuel, 3:1, NIV) In the advertising market, online advertising will continue to grow while the TV and print companies will lose their market position. We need to stay abreast of these market changes. Running the same ads as in the past may bring diminishing returns.
Some businesses don’t like the new direction and don’t want to adapt to online marketing. Be assured your competitors will.
Update: On July 25th, Newsweek, published for 79 years, announced they would migrate from the print edition to an all digital magazine version, more confirmation of the trend.
Steve Marr, Your Christian Business Coach
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