The online universe continues to increase exponentially, with circulation declining in newspapers, declining print spends, and the advent of live news portals.
As digital revenue increases globally, companies are finding it increasingly tough to get more money from the traditional print medium to offset their normal avenues of getting more cash in the bank. Bullish and optimistic predictions believe that as more people spend time online, spends on advertising are poised to increase.
The United States has already seen online spends surpassing print. In more traditional markets, the growth of the online medium is also fast, but it would still take some more time to usurp the long supremacy of print. Advertisers find measuring online revenue models relatively easier.
The three most common ways in which revenue is measured are CPM, CPC and CPA. For the traditional vendor, they may seem like technical mumbo-jumbo, but they are relatively easy to understand. CPM(Cost per Mile) is when advertisers pay for their message to a specific audience. In this context, mile refers to a thousand impressions, or loads. Some things may not be counted, including reloads or internal user actions.
Secondly, what’s CPC all about? It is also when advertisers pay for exposing their message to a specific audience. CPM refers to the money, or the impressions that may not be counted, such as a reload or an internal user action. Cost per action (CPA) advertising is common in the affiliate marketing section of the site, and the advertiser only pays for the risk of running the ad, and the advertisers who pay for the sign-up among other things. This is a generic overview of the two or three most popular methods, other revenue models are essentially customized variations or similar to this.
As readership declines, and more people gravitate online, there can be further evolution of the online marketing mix. But, as of now, even though they are fast challenging conventional methods, the medium still remains a little more cumbersome. A major avenue for advertising is also television, given the widespread reach, mass appeal and real-time impact of live, in-your-house ideas.
Monetization in the online sphere is a long-drawn process. Brand monitoring, humanization, promotion and a whole host of other caveats make the task of the marketer more challenging. Conventional marketing was based more on direct selling and the brick-and-mortar realm.
The Click-And-Mortar Existence
1995 saw the World Wide Web actually take off globally. In the past few decades, we have become more adept at doing a large majority of things on the Internet. In fact, we could not live without the click-and-mortar existence the entire world and business community is now accustomed to. Business strategy and revenue has also changed drastically.
Consider Amazon launched in the same year when the World Wide Web was just beginning to flourish. Location-based marketing, a trend for which the company was one of the pioneers has made inroads globally in different spheres as well as sectors.
Traditional news outlets all over the world have realized the need to overhaul their legacy systems. Nobody expected that the launch of the iPad just a few years back could so drastically change the entire office setup, or catalyze governments to create massive initiatives.
Sustainable Web Presence
Tablets are certainly the norm in yuppie establishments, while in some countries; only a select few have access to the altered computing paradigm. This makes the digital divide even starker. Still, as multiple channels of accessing content become increasingly mainstream, news companies have to ideate on every aspect of the delivery lifecycle and optimize platforms on which content can be accessed.
Generating leads and using the sales funnel for different purposes is one of the goals of the online digital marketing space. News companies; big and small use databases as an extension of their long-term strategic objectives. Most sites in this space use social strategies, linking, different promotional ideas to help create and sustain a web presence. A breaking story such as in politics, finance, sport, or a major global event often generates enough eyeballs for marketers to create and sustain long-term impact.
A simple theory is at work here; when there are enough eyeballs glued to a single event, regardless of their point-of-view, the advertiser has hit a potential goldmine. There will be some among the flock who can be baptised to the marketing man’s key objective; creating and ensuring brand visibility. Integrating every medium into a cross-channel strategy can make marketing a more holistic effort. Art and commerce need to be in a unique synergy, but the real deal is to pave a yellow brick road to long-term marketing success.