Marketing on the internet has grown in a multi-billion dollar industry with no sign of slowing. We can expect to see a continual 16% yearly growth in online advertising between the 2011 and 2014, according to a 2012 forecast from ZenithOptimedia. The IAB Internet Advertising Revenue Report for the full-year of 2011 revealed that revenues soared to a landmark high of $31 billion. This milestone represented a 22% increase over 2010’s full-year number, which itself had been a record-breaker at $26 billion.
The majority of these payments go towards Google’s pay-per-click advertising and social media networks like Facebook. While these sites offer an audience they continue to drape a veil of anonymity, leaving marketers with the challenge of aiming without a target; but still, the marketers keep coming going for more.
Conversely, Vancouver start-up My Viral Web is disrupting the order by unveiling the audience so that marketers can finally identify their audience and build real relationships. The company offers a platform that filters billions of mentions to target any consumer, based on interests, demographics, location, and even sentiment. On top of that, their ‘social tool’ allows you to instantly connect and communicate with the targeted audience using popular social networks like Twitter, Facebook, and YouTube.
With internet marketing in its glory days, it’s imperative that online businesses don’t get stuck in the mud. Instead they need to focus on ways to identify, connect, and build their networks in the most effective and efficient manner possible. Pay-per-click used to be the cutting edge, until it became so popular that Google began sending anyone with a Gmail address a free $100 gift certificate for their Adwords account. This kind of reminds me of Vegas, where the house will compensate you a free hotel room and booze to keep you pulling on slot machines all day.
For how long will these giants, Facebook and Google continue to provide you only with numbers instead of faces to your target market? Especially, with start-ups like My Viral Web finding new ways to not only show you the face, but the gender, city, popularity, and even attitude of your potential customer; this may be change that we’ve waited for on the cyber streets.
But just like other David and Goliath stories, the young tech firm will either get crushed, or bought out for billions. Those seem to be the only options nowadays.
Google and Facebook representatives remain to comment at this time.