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Even during the recession the online advertising market held strong and spend in this area continued to rise; proving the importance of this marketing channel to businesses at a time when overall media spending was in decline.
Forecasts for 2010 show that we will see a return to double-digit online advertising growth, with global ad spending set to reach $61.8 billion. The same research forecasts growth will continue at rates of over 10% each year through 2014 [Source: Double-Digit Growth Again for Online Ad Spend | eMarketer]
These growth figures are no real surprise. The internet is now more accessible than ever; with more and more people spending time online. On top of this online is far more measurable and effective than other channels, making it easier for company’s to justify spend in this area.
In today’s multichannel world, there are mountains of data which provide insights into how users have interacted with your business and their path to conversion (or non-conversion). It is important to understand performance with multichannel marketing, which can be achieved through attribution modelling. Attribution refers to assigning credit to something (a channel, touchpoint, etc.) for the role it played in the final conversion. An attribution model is a rule, or set of rules, that assigns this credit correctly to the right channel or touchpoint.
For a long time, Bing, the UK’s second-largest search engine, has been underappreciated and, in some instances, even ignored. Often regarded as the inferior search engine to market leader Google, Bing has historically struggled to appeal to many in the digital world. Most PPC analysts would give justified reasons for neglecting Bing for so long; these include the volume of traffic and the user experience just not matching up to Google. However, the validity of these assessments is now diminishing. Bing has grown and improved rapidly in the last couple of years; if you are not integrating it into your comprehensive digital marketing plan, you run the risk of missing out on a large portion of your chosen market and significant revenue.