But some interesting numbers are come out on a regular basis that suggests the yellow pages are not quite as effective when compared to the power of the Internet. For example, a report from a media investment bank forecasted that spending on online advertising will pass ad spending in newspapers. Most companies advertising on the 'Net are not increasing their budgets either. They are diverting them. This means that for online ad spending to grow at a whopping 17%, like last year, the money must go to put ads where the people are going.
Alternative media spending is expected to rise at a compound annual growth rate (CAGR) of 17.4% through 2011, to $197.11 billion. Traditional advertising and marketing will see an aggregate CAGR of 3.2%, to $438.99 billion in 2011.Another report, from Jupiter Research, repeats the growing power and reach of online advertising:
New Jupiter Research Numbers say that the total advertising spend online will match that of print magazines by 2007, and then surpass it in 2008. Jupiter Research analyst Niki Scevak said online advertising will continue its rapid growth pattern as it becomes more performance-driven, to the benefit of publishers, advertisers, and their clients.Where are you spending your ad dollars? It might be an important business move to make sure you have a presence on the World Wide Web. Having a website may not be enough as nearly half the American population now has broadband technology in their home. In addition to gaining new leads from sites such as Construction Deal.com, you may need to have ads in online directories or banner ads on the online version of your local newspaper. Email can certainly be a great lead tool for your business, too. Pay-per-click could be a great resource as well.
The point is that the ease and convenience of technology is pushing more and more of your customers onto the Internet to find what they're looking for. And while it still may be a necessary evil to put ads in your local yellow pages, it should not be your only marketing outlet. Gaining new leads online is the future because that's where your competitors are spending their money.
Construction Deal.com spends a large portion of our advertising budget online to attract new leads for contractors and service professionals. We have ads in major search engines, like Google, Yahoo!, and MSN, as well as smaller search engines, websites, and online magazines. We act as a marketing arm and online presence for many contractors and companies. The great thing about advertising on the Internet is the ability to track the effectiveness of all the advertising. It can be much harder to track the return on investment for a yellow pages ad, unless you have a special phone number within your ad copy.
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