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Online Ad Spending Expected to Balloon this Year

Posted in General News / Technology, tagged , , , , , on June 13, 2011 | Leave a Comment »

Online advertising budgets experienced wave after wave of decreases as the recession wrecked havoc on overall marketing strategies, but new data from eMarketer suggests that period of cooling off is likely over and ad spending will increase across the board over the next four years.

eMarketer predicts that online advertising will total $31.3 billion here in 2011, a 20 percent increase over the roughly $26 billion spent on the medium last year.  It will be the start of an overall return to pre-recession growth levels that should continue through 2015.

eMarketer had originally projected 10.5 percent growth.

“The internet has become as fundamental as television to advertisers,” says eMarketer’s principal analyst David Hallerman.  “As consumers continue to increase their time spent online and as a resurgent economy continues to bolster ad budgets, we’re going to continue to see an influx of dollars toward the Internet.  More ad formats, such as video, and more channels, especially social media and mobile, are also key contributors to the spending gains.”

The data further reveals that display advertising has already exceeded expectations for the year:  advertisers are expected to increase display ad spending to $12.3 billion in 2011, a 24.5 percent increase.  Search advertising is also expected to grow by almost 20 percent to $14.4 billion.

However, as marketers increasingly view online ads as a branding tool, display ads will continue to see better growth than search advertisements.  And eMarketer predicts that by 2015, display ads will overtake search ads completely in terms of market share.

Reflecting emerging trends with regard to the waning effectiveness of traditional advertising programs like television, eMarketer further estimates that Internet ads will account for one-fifth of the entire U.S. advertising market this year and that by 2015, 28 percent of all U.S. ad spending will be online.

And further adding to the woes of traditional TV advertising is the fact that video is the fastest-growing online ad type, particularly as Google builds on its advertising offerings through the promotional arm of YouTube.  eMarketer expects video ad spending to total $2.16 billion this year and by 2013, they are expected to evolve into the third-largest ad format.

Banner ads are still relevant as well, and are expected to total $7.61 billion this year.

Leave us your thoughts and comments below!

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Google Launches E-commerce Channel on YouTube

Posted in Ecommerce, Online Shopping, Retail, tagged , , , , , , on May 12, 2010 | 2 Comments »

Last Friday we did a posting on Stephanie Tilenius, the new head of e-commerce over at Google (GOOG), and her ambitious plans to improve Google’s e-commerce offerings to compete with the likes of eBay (EBAY) and Amazon (AMZN).  Well suffice to say, it didn’t take long to see that both Tilenius and Google mean business in meeting that goal and their latest step involves a tool we’ve discussed many times on Junkie—video.

Google announced that it has launched an ecommerce-specific channel on YouTube geared towards retailers and merchants to highlight its e-commerce services, starting with current demo and instructional videos on Google Checkout and Product Search.

One video featured on the new channel at the moment helps retailers through the process of setting up shipping information and calculating sales taxes as part of staring their Google Checkout account, valuable information for merchants who have struggled with the process up to this point.

While there’s only two videos on the channel right now, it’s only the beginning.  Google plans to continuously add more video material to address any and all of the frequently asked questions posed to them by both consumers and retailers.  One example would be an upcoming informational piece with recommendations to merchants on how to deal with customer refunds and charge backs.

Google’s ultimate goal with the YouTube channel is to build a video library of reference sources that is not only a benefit to viewers and customers, but also influenced by them as well.  Google will rely heavily on user feedback to determine which areas and issues to cover in future videos, giving viewers the ability to dictate, at least to some degree, the type of content that ends up being added to the channel. By making the channel an interactive experience, Google is in a great position to assist its current merchant clients while attracting new ones at the same time.

While Google certainly doesn’t have any issues with name or brand recognition, their ecommerce operations are still basically in the infancy stages.  As such, their decision to launch this YouTube channel is a smart one. We’ve touted the benefits of video as part of a solid retail marketing plan in the past and a dedicated YouTube channel was part of our recommendations.  Quite simply, adding a visual component to your operations, whether it be aimed at shoppers or merchants, is an invaluable asset.  Many retailers and e-commerce sites have embarked on video in some form or another already and Google’s new channel is a great example of incorporating another highly successful website into that overall strategy.

Leave us your thoughts and comments below!

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Merchant Tips: Adding Video

Posted in Ecommerce, Merchant Tips, tagged , , , , , , on March 30, 2010 | 2 Comments »

Let’s face it.  Online retail is getting awfully competitive out there.  With the proliferation of new tools and technologies, you’re always looking for every possible advantage in presenting the best shopping experience for your visitors.  In the past we’ve discussed social networking assets and enhancements to product review sections and images as ways to increase traffic and customer retention. But today we’ve got another question for you.

Have you tried video yet?

Incorporating online videos into your e-commerce operation is a low-risk, low-cost, high reward strategy.  Videos educate and inform shoppers about products and features in a way that text, images and audio cannot, while also entertaining consumers to raise brand awareness. Many retailers have embarked on video marketing already and if you’ve wondered how you can do the same, we’re going to outline some of the most important factors you’ll need to consider.

You might be a little overwhelmed at the prospect of creating and displaying web videos as part of your operation.  Don’t be.  There are companies out there that can get videos up and running for you, handling every aspect of the process along the way.  If you’ve got the extra money, they might be worth a look, particularly because they can give you some insight and tips on the best ways to maximize the effects of your videos from an SEO perspective.  But if cost is a factor, you can still produce and distribute high-quality videos on your own.

The first tech hurdle you’ll need to overcome is making sure that your site can handle hosting these videos so that users aren’t stuck waiting for them to buffer or load.  From there, you can set up your own in-house video studio for as little as a few thousand dollars.  Most PCs and Macs come with video editing software already installed, but even if they don’t, you can pick up Windows Movie Maker or iMovie inexpensively to give you the foundation for creating your videos.  Add a high-definition video camera and Photoshop and you’re pretty much all set.

Once you have the tools and bandwidth to get your site video-friendly, it’s time to start brainstorming ideas for content.  This is no small matter.  Some retailers and merchants may have products, or customer bases, that don’t lend themselves to video at all.  Still others may need to focus their video work on small target areas and shoppers.  Ask yourself what you want to accomplish with your video work and what kind of videos you think your customers want.  That will go a long way towards leading your planning.

New shopping features on your site, opening storefronts on social networking sites, new products, contests, and product demonstrations are among the most popular content ideas for videos, but don’t stop there.   Get creative!  We read a story about one merchant who started a campaign of videos that showed a guy using a blender on all sorts of different household items from wood planks to golf balls.  These videos attracted literally millions of hits across the web and resulted in an astronomical increase in blender sales for that particular merchant.  We’ve all see enough crazy YouTube videos to know that people are attracted to the creative, and sometimes, the strange. Don’t be afraid to get a little zany.

You can also use video to help promote you company overall.  Create a 3-5 minute video on your store, staff and operations and then use it as part of your press and marketing materials.  If you’ve got an online press kit, including a company background video sends the message that you’re modern and tech savvy.

As for posting videos, the sky’s the limit.  Start a video section on your site with all of your videos and make sure it’s easily accessible from your homepage.  Always post all of your videos to YouTube, making sure that your company name and contact information is available in the About section.  You can take it a step further and create your own channel on YouTube, then encourage customers to subscribe to it, further expanding your online network.

Videos can also easily be added to Myspace and Facebook fan pages or any customer or company blogs you operate. AOL, Yahoo, and Google all offer video hosting as well, just a few of the infinite possibilities available to you.

We think that once you get the ball rolling and get a few videos under your belt, you’ll realize justhow valuable a resource this can be.   As always, leave us your thoughts, ideas and comments below!

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