The Internet Advertising Bureau reports that internet advertising revenue reached $8.4 Billion dollars in Q1 of 2012 (that’s a crazy amount of zeroes). This Q1 record marks a 15% increase over the Q1 2011 numbers at $7.3 Billion. Although not as dramatic as the growth from 2010–2011 (24%), that’s great growth to see. The chart below (c/o the Internet Advertising Bureau) illustrates the growth more dramatically than my weak little words.
What Does This Mean?
Growth like this can mean many things. However, I think the most important point is that this growth is an affirmation that the internet is continuing to become a media of choice for consumers.
The truth of the matter is that advertising dollars will follow consumer behavior like that little lamb followed Mary. This growth would not have occurred if it were not for a few things:
- The general growth of internet usage
- More consumers turning more often to the internet to find information about products and services.
Some of the commentary online points to the increased spending on online video, social media marketing and mobile marketing as significant contributors to this growth, and I would agree.
Do You Follow?
When reports like this come out, I think it’s always good to check how your marketing and advertising behavior matches up. These types of reports are obviously not the end-all be-all of how you should spend your advertising dollars, but they do provide a good benchmark.
How do your efforts match up?