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Online advertising grows amidst slowdown
By siliconindia
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Monday, 24 November 2008, 23:24 IST |
3 Comments
Mumbai: The online advertising continues to grow despite the global financial crunch, while the rest of the media like TV, Radio and print witnessed a dip in their advertising revenue. According to Bernstein research, the online advertising revenue is expected to grow 20 percent in the United States and 22 percent overseas by 2008. Even if the macro-environment worsens significantly in the second half of this year, the analyst firm expects at least 19 percent revenue growth in the U.S. and 21 percent overseas.
"During a recession, the first advertising medium that is hit is the outdoor medium," said Harish Bijoor, Brand-Strategy Specialist and Chief Executive Officer of Harish Bijoor Consults. "Television loses some 30-45 percent in terms of revenue; print loses some 11-12 percent and so does radio. What gains is the online medium. It is seen to be unintrusive, inexpensive and ubiquitous in its ability to be touched by the consumer at his or her choice of time", he further added.
Media planners guarantee the advantages of online advertising. Rishi Khiani, Chief Operating Officer, Web18 said, "It is very cost-effective, which becomes extremely critical in times where return on investment is essential for every advertiser. Online platforms lend itself beautifully to constant tracking, monitoring and rejigging campaigns. This makes them ideal for performance-oriented advertisers at any time because the accountability is high."
According to website companies, people also tend to spend more time online during a depression. There are multiple reasons as to why internet sites have seen a growth in visitors and visits in the recent past and much of it has to do with an overall expansionary macroeconomic trend in India, reported Financial Chronicle.
The chaotic times necessitate keeping a close eye on ongoing developments globally. An interesting fallout of this turmoil can be seen on social networks which promote self-expression through blogging.