Three Ways to Battle Rising Digital Advertising Costs

2019 is projected to be a big year in digital ad spending. For the first time ever, digital is set to account for half of the global ad market. This is excellent news for buyers and sellers of ad space. As the market becomes more viable and competitive, there are expected to be increases in technologies that will fine-tune the way advertising online works. Also, as expected, the increase in ad spend has brought about an increase in advertising cost as well—in the last two years, the cost of advertising online has increased by nearly 12%, double the rate of inflation of TV and radio.

What does this mean for small businesses? What does it mean for your business? What are the ways you can battle rising digital advertising costs?

High Quality Ads: As consumers spend less time browsing the web, not to mention the rise of pop-up and ad blockers in most browsers, it may actually be harder to reach them than before. Combine this with more expensive digital spending, it means you need to really crank down on getting exceptional and highly-targeted ads out if you want a response from the consumer.
Use the Data You Have: If online advertising has been part of your marketing budget for a while, you should have a pretty good idea who your market is and what works best for you. The best thing to do, is to use the data you have, expand on it and gather more in-depth knowledge on your top customers, really hone in on your target consumer. Keep these consumers engaged with lower-cost messages like e-mail blasts.
Turn to Mobile: consider upping your mobile ad spend budget if it makes sense for your business, and beginning to branch out into this area if you haven’t done so yet. Mobile use is increasingly on the rise, so be sure to consider in-app mobile advertising!

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