It might be harder to get top dollar for your internet advertising, with advertising of all types having taken a hit along with the rest of the economy. There is one good thing about this recession however —  those that are making a living online will be happy to know that many businesses faced with advertising budget cuts are exploring and expanding internet advertising campaigns. Internet advertising is dirt cheap — so cheap that many newspapers offering access to their content online for free can’t cover their costs by doing such.

I’ve never understood the reason for online advertising being so cheap — if given the choice between online and offline advertising with the same ad budget, I’d choose online advertising 10 times out of 10. When advertising offline for an online business (eg. like Microsoft is doing with Bing), there’s no way to accurately measure your return on investment. With online advertising, I can see exactly how many people are coming to my site via a link or text/banner ad. I can see how long people are staying on my website, what they’re doing on my website, etc. I can even compare advertising campaigns I have running on different websites to see which websites are converting best and cut those which aren’t performing. 

 Reuters reported that despite internet ad spending being down 5% in the the first quarter of 2009, online advertising is becoming a larger share of the ad budget of many companies. If you’re trying to reach the younger generation, don’t even think about advertising offline. Internet advertising has come a long way in recent years, with more companies advertising online than in print media today. According to the latest LinkedIn Research Network / Harris Poll, a whopping 92% of companies with ad budgets spend part of their ad budget online — more than any other form of advertising. Since 2008, 74% of advertisers polled said they were spending more on online advertising than they were last year. We’ve seen mobile Internet advertising really start to take off over the past year as well — 69% of advertisers polled said they were spending more on mobile advertising today than in  2008. See the LinkIn Research Network / Harris Poll link for a complete breakdown of findings by WebProNews.

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