Since the Great Recession in late 2007, the world economy has been rolling on a downslope. Many businesses have lost profit, declared bankruptcy, or shut down. Advertising on “print and television saw double-digit declines” (Frelinghuysen & Joshi). Fortunately, “online advertising revenues fell by just 3 percent in 2009” (Frelinghuysen & Joshi). Still, online advertising attracts minimal attention from marketers and publishers. Through innovation, advertisers can tap deep into the realm of online advertising, intrigue marketers, and gain healthy profits.
It’s odd advertising agencies still pour funds and talents into the traditional media pool. The Internet is relatively new, but the same types of advertisements have been overused. Log onto AOL.com and one will still see cluttered banner ads that have been used for years. It’s time for creative change. Advertising agencies should have their creative directors focus on the possibilities online advertising offers. Some companies, such as Apple have gained success by creating intriguing online ads. Apple’s “‘Mac vs. PC’ campaign on the New York Times, Yahoo! and Wall Street Journal sites showed a willingness to experiment with new formats—using video as well as custom ad units that interact across the page” (Frelinghuysen & Joshi). The first advertisers to follow Apple’s lead could profit off innovation.
Creating a better system for calculating return on investment will help the evolution of online advertising. Marketers may be able to know how many hits, views or click a certain online advertisement has accumulated, but it does not share other factors, like brand awareness. Marketers will be persuaded to turn toward online advertising if there is a more reliable way of analyzing consumer data. Having advertisers cross-platform their campaigns could solve this issue. Through a cross-platform, an agency could easily connect an online advertisement to an advertisement in a magazine. Marketers could then use consumer analyses to relate their findings back to the online advertisement.
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