In 2017, Facebook and Google have ruled over the domain of online advertising. The growth reached a whopping 29.6% in the third quarter of the year. Among the two, Google has been the bigger fish, contributing about 21.4% annual market growth rate. Google has contributed an added $4.2 billion to spend this year.
In fact, according to Forrester’s Digital Marketing Tracker, Google, Facebook, Alibaba, Tencent, and Baidu are the market leaders in online advertising, contributing more than 75% to the online market of advertising. This means 2018 will see Facebook and Google bag at least 25% of the total market spend on online advertising.
An expected surprise from Facebook
Quite interestingly, Facebook was expecting to see its market growth decrease rapidly in 2018. However, there was a marked increase in revenues and market share too. The corporation saw an increase of over 48.8%, which is both stunning and unbelievable. This is also slightly more than their second quarter increase that halted at 6.5%.
That is primarily due to the predominance of video content. Live videos on Facebook are drawing a lot of attention from all directions. Quite a few million companies, big and small, are currently using live videos to capture their target markets online.
Twitter might be sick
On the contrary, Twitter does not seem to be doing as well as its social networking contemporaries. Even with the introduction of video content and the extension of Tweet lengths, it is currently suffering from a decline in market share.
As per the market research from the third quarter of 2018, Twitter’s share is steadily falling by 7.7%. This is after Twitter has been through a rough patch for continuous three quarters since the end of 2016.
Adwords is growing stronger every day
Google Adwords is one of the most effective platforms indeed. It is simple, precise and it can be budget-friendly if you know your way around the kingdom of online advertising. The best way is to pick a location or area, and then select a combination of keywords that do not have to be expensive. The secret is to pick low volume keywords that are not too common.
This way you might get lesser number of clicks, but you will get more relevant traffic. Google Adwords is the perfect way to reserve your space on the Google platform. Many companies have chosen Google Adwords to gain access to the Google allied networks that support these ad displays. The system can be somewhat complex and costly, but it is worth the price once you optimize your online ad.
There’s a new kid on the block
Tencent is a relatively new name in the world of online advertising and digital media. It may not be an online advertisement juggernaut, but it is growing fast. Tencent Holdings Ltd is using big data to manipulate its online marketing shares. They are listening to what their target market wants before opening their doors to new clients. According to the experts, this platform has the potential to grow to $11.4 billion by 2019.
Read More – 10 Tips from Experts on Facebook Advertising
Very recently, Tencent has invested over $863 million with online minnow JD.com into VipShop. VipShop is an e-commerce firm, and online entrepreneurs are saying that this step makes Tencent a prominent competitor of Alibaba.
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LinkedIn is also emerging steadily, but slowly in the online marketing game. This is the hotspot for all B2B companies. Most of the ads we see on LinkedIn are now on other businesses, professionals and business owners. If you are selling your products or services to other professionals and market holders, LinkedIn should be your platform of choice.
The only disadvantage of advertising on this platform is its approval time. The moderators can take about 12 hours to approve any digital advertisement piece on LinkedIn, while Google and Facebook usually take 2 hours.
How to optimize your advertisement for the world to see?
To get the bang for your buck, you should always opt for cross-channel advertising. You can place your advert on several platforms and channels using direct deals with publishers and advertising software.
This does need expert advice and software tech help, but this can get your advertisement across several avenues using mobile, video, social, display and search advertisement types as your options. Most advertisers usually focus on just one or two of these channels, but the ideal way to make the most of your advertisement potential is to develop a cohesive strategy for your cross-channel advertisement.
Four choices per person!
This is important because an average American customer utilizes about four different devices a day to access the internet. These include smartphones, tablets, laptops, and desktops. According to a Nielsen study, customers can spend up to 60 hours per week browsing the websites and consuming content. When one person has access to 4 different devices at an average, it makes the cross-channel advertisement more crucial than ever for almost all platforms.
Facebook and Google are having a ball
This is why Facebook and Google are doing so well right now. Almost all the devices we have mentioned above are ideal for using Google and to browse Facebook. People leave Facebook open on their desktops for days, they leave the Facebook app running on their phones and tablets, and they also use this networking site on their laptops. They have constant access to all kinds of Facebook content.
Google handles about 2 trillion searches per year, as per the reports from a Search Engine Land report. Any advertiser who targets a particular location and chooses a set of keywords can easily target some users across different sets of devices. Of all the Google searches, about 51% were from mobile devices, 46% from desktops and a meager 4.3% from tablets.
No matter what device, the advertisers were able to reach their target audience quite easily due to Google’s cross-platform nature.
It is more important than ever for advertisers to emphasize on cross-channel ads that are compatible with multiple devices irrespective of screen size and resolution. Advertisers need to find out which social media channels and online marketing platforms their target customers use, to include it in their successful marketing strategy.
2018 is going to bring a cornucopia of new features to the world of online advertising, and the only way to embrace the new is to accept the old ones first!