The common narrative is that banner advertising is dead. However, is it true that banner ads never really worked? Recent data suggests that the average click-through rate (CTR) for a banner ad on the internet ranges between 0.15% and 0.3%. This might seem low, but it's important to remember that banner ads, like TV spots or radio ads, are often used for branding rather than direct response. This article will delve into the intricacies of banner advertising, providing insights and tips for a successful campaign.
Despite the low CTR, businesses continue to use banner ads. Much like how large corporations purchase endless TV spots or radio ads to increase brand recognition, banner ads serve a similar purpose. These campaigns, where the response is a secondary goal, can bring down the average CTRs significantly.
In the world of offline advertising, Direct Response advertising is flourishing. Ads that prompt a measurable action, such as calling a number or visiting a website, are growing in popularity. This is because each measurable response allows the advertiser to learn more about the effectiveness of their media mix. This constant learning and refining should be practiced online as well, but many fail to do so, further damaging the overall CTR.
Offline media planners have the advantage of extensive research into the audiences of various advertising mediums. This allows them to ensure their ads will be seen by the most appropriate people before spending a single dollar. Unfortunately, this is not always the case online. In many instances, banner ads are bought and sold in bulk, leading to them being displayed on irrelevant sites, which can negatively impact their effectiveness.
A successful banner campaign depends on four key factors:
Audience Match: The audience of the site you advertise on should closely match your own, not just in terms of age and socio-demographics, but also in attitude. Wastage is useless and expensive.
Site Popularity: Advertise on popular sites that people are likely to have bookmarked. This reduces the resistance to clicking on banners as users know they can easily return to the site they were viewing.
Pricing: Until recently, most sites selling banners insisted on a cost-per-thousand impressions policy. This is becoming outdated as a more appropriate payment-by-results model is growing in popularity.
Creative Execution: Getting the creative right is not easy. Many creative people struggle to understand the internet and end up creating online versions of billboard advertising, which are more about branding and image, not direct response.
I recently ran a banner campaign for a website that provided real-time financial data on budget day. Banners were strategically placed on news and current affairs sites, using clear, unambiguous copy. No flashy lights or animations, just a simple, appealing message. The click-through rates were between 5% and 8%, overwhelming the server.
Here are my top ten tips for making your banners work well above the average:
In conclusion, achieving valuable CTR's is possible, but it requires a strategic approach rather than blindly following the crowd. Successful advertisers do things a little differently.
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