More than 300 million people in the U.S. use the internet. This number is continuously growing, and consumers are increasingly reliant on the internet.
As more and more consumers use the internet, it’s becoming essential for businesses to also be online.
The Manifest surveyed 500 digital marketers and discovered that not only should businesses be online, but they should also invest in online advertising.
One-Third of Businesses Do Not Invest in Online Advertising
Although businesses should be online with their consumers, many still aren’t.
Just 66 percent of businesses invest in online advertising. That number, however, should be closer to 100 percent.
“It’s crazy to me that number isn’t higher,” said Flynn Zaiger, CEO of Online Optimism, a digital marketing agency in New Orleans. “Knowing that only two-thirds of businesses are doing online advertising means that just starting with an online marketing tactic can put you ahead of one-third of the competition.
The majority of businesses invest in a variety of online advertising channels, but the most common are social media (86 percent), display/banner (80 percent), and paid search advertisements (66 percent).
These channels help businesses reach the most consumers possible.
“Social media and paid search allow you to reach users on the main platforms they use: Facebook, Instagram, Google, Bing, and Yahoo,” Zaiger said. “Display advertising lets you extend that reach and awareness across most other major web platforms. With all three, you can reach nearly all your likely customer population.”
Retargeting Is the Least Popular Online Advertising Channel
Businesses don’t see the value of re-targeting advertising; just 43 percent invest in it.
Businesses are hesitant to use online advertising because they think it can be invasive to customers.
“Maybe businesses don’t want to appear too aggressive online to their consumers,” said Jeremy Greenberg, founder of web design and digital marketing agency 97 Switch. “Businesses may worry that retargeting advertisements could bother customers. However, retargeting is very important and does work.”
Because retargeting advertising is aimed at people who have already visited your website or made a purchase from you, it is a successful way of reaching consumers who are actually interested in your products or services.
Top Online Advertising Goals
Businesses have different goals they want to achieve with online advertising, but the top five are:
- Increase sales and revenue (24 percent)
- Improve brand recognition (18 percent)
- Drive website traffic (16 percent)
- Acquire new leads (13 percent)
- Convert customers (11 percent)
Despite the array of goals businesses have, each one should eventually lead to increased revenue and more sales.
“Sales and revenue are at the heart of the business,” said Aylin Cook, head of content marketing at digital marketing agency Single Grain. “Without it, the lights wouldn’t remain on, and no one would get paid. Revenue is key to keeping a business alive.”
Every goal a business meets should eventually lead to more money for a company.
Online Advertising Is Essential
In a technology-obsessed world, it’s hard to find a consumer who’s not online.
The whole point of advertising is to reach and appeal to consumers through the mediums they use. This is decreasingly through traditional formats, such as TV, print media, and radio, and increasingly online.
Businesses need to invest in online advertising.