We have reached a critical point in the attention economy. What’s the “attention economy”? First explored in the ‘70s, the “attention economy” is a term used by economists to compare the amount of content with the attention it is given by the public. When there is little content, there is an abundance of attention given to it because there is no competition; on the other hand, if there is a large volume of content, then the attention becomes divided and there is a scarcity. With the explosion of content (internet, social media, cable TV) in recent years, the attention scarcity has become a major concern for marketers. Basically, there is just too much content and not enough eyeballs. The potential for attention is still there, but now marketers have to be smarter and more targeted about it. One of the newer marketing techniques to help grab attention is through banner ads.
If you have been on the internet, you have seen banner ads already. It is those advertisements you find embedded into websites; if you click on the banner, it link you directly to the advertiser’s website or even a specific product/service on that website, making it a valuable technique in the awareness stage of the marketing cycle. The real questions for business-owners and marketers are: do they work? Are they worth the effort? According to the available data, banner ads are worth your time; let’s take a look at some important points:
As mentioned before, we have entered a new age of attention scarcity; we have to look beyond just TV commercials and print ads. People spend hours online now; if you aren’t embedding banner ads on websites, you are passing up on so many opportunities. Since many websites are very niched; banner ads allow you to focus more on a targeted audience than before
Easy To Notice
Since the VCR, countless commercials have been fast-forwarded through by viewers annoyed at the intrusion into their entertainment. Banner ads, even the animated ones, cannot be skipped. As soon as a potential customer opens a web page, their eyes are automatically drawn to the advertisement and are digested without even realizing it.. As Banner ads are not seen as interrupting their viewing experience, they are less likely to have negative feelings about the ad or product.
It can often be hard to gauge the reaction and effectiveness of TV and print ads. You have to look at sales before and after ad campaigns, consider where the ads ran, what the competition was doing, and numerous other factors that still don’t necessarily paint an accurate picture. With banner ads, you can just count the clicks. If you know that 10,000 people logged onto a website that contains your banner ad and 1500 clicked on your website, then you know that at least 15% of the viewers were intrigued by your ad. This fast access to data can allow you to change ads and marketing campaigns when needed.
Banner Ads Can Work
When done properly, banner ads can be a cheaper, more effective way of advertising. In 2014, Google ran a banner ad campaign for Android Wear; a subsequent study reported that brand recall improved by 15.8% after the campaign. Another study demonstrated that those retargeted with banner ads are 70% more likely to convert. The proof is in the data; banner ads are something to invest in.
Interested in banner ads but not sure where to start? Come talk to us at Measure Marketing. One of the top inbound marketing agencies in the Toronto area, Measure Marketing prides itself on being an innovator in online branding, social media, and internet advertising. As SEO experts, we will bring the attention to your business that you know it deserves. Contact us today and find out how you can bring your marketing into the future.