By: Joe MacCarthy
June 13, 2014
Brands continue to up their digital advertising budgets, according to the Interactive Advertising Bureau.
Internet ad revenues reached $11.6 billion in the first quarter of 2014, compared to $9.6 billion from the year-ago period. While the sharp rise is not all that surprising, the increasingly effective nature of digital ads indicates that revenues will keep climbing at double digit intervals.
“Digital advertising is so much more targeted,” said Milton Pedraza, CEO of The Luxury Institute, New York. “You can now target people so much more finely than you could a few years ago.
“Relatively speaking, the cost is very competitive,” he said. “There’s a tremendous amount of online media that you can tap into.
“It’s just a revolution, a transformation, in advertising.”
Mr. Pedraza is not affiliated with the IAB, but agreed to comment as an industry expert.
The Interactive Advertising Burea was unable to comment. The IAB is comprised of more than 600 media and technology companies that account for selling 86 percent of online advertising in the United States.
Consumers are increasingly dependent on their smartphones, which gives marketers countless opportunities to reach them throughout their daily routines.
Also, since brands continually engage with consumers through social media and other platforms, they can expect a high level of campaign recognition when targeting ads.
Many luxury brands are finding interesting ways to increase click-throughs and post-ad engagement.
For instance, Jaguar of North America leveraged its ongoing British Villains campaign with mobile advertisements on The New York Times, The Wall Street Journal and other publications.
Click the link to read the entire article which includes a quote from Milton Pedraza, CEO of Luxury Institute: http://www.luxurydaily.com/us-internet-advertising-revenues-jump-19pc-in-q1-report/