Advertising Trend: Technology Sparks Advertising Revolution
March 3rd, 2010
Businesses now have the ability to reach potential customers anytime, anywhere, and to target only the most promising prospects. This is changing how buyers and sellers interact. A crucial new part of this is data mining. This lets marketers collect and analyse billions of bits of information to understand the needs of consumers and appeal to them. Sellers can now filter their potential audience, whether they are on the web, magazine subscribers or others.
The new information sorts customers by age, gender, location, income, household size, what they’ve purchased in the past and much more. Some NZ businesses, like supermarket chains, are already using this technology to good effect with targeted email campaigns. In the US these types of ads are expected to account for 75% of all ad spending by 2013, up from 55% now.
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The web and new media give businesses at least 60 ways of reaching customers, most of them not conventional, like Twitter messages, product placement in movies and ads on Youtube. Google is going in to bat on banner ads in a big way, hoping to grab a slice of a market which is expected to grow by 8% this year. It is developing tools to help marketers not only make and target banner ads, but to measure their effectiveness as well. The message: the old scatter-gun approach will no longer work.
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