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Is banner advertising not pocket friendly?

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Is banner advertising not pocket friendly?

Online advertising industry (excluding mobile) grew by a significant 40 per cent in 2012. While video advertising witnessed a growth of around 46 per cent, display advertising was seen a taking a back seat with a growth of merely 19 per cent. While digital advertising came to the rescue in early days of real-time screen monetisation, the medium is now lost some significance due to arrival of cheaper advertising options such as social media ads and campaigns.

Does banner ad mean too much money?
“Banner ads are actually moving down the chain, as short-form ads that you see on Facebook or Twitter are gaining importance. Video ads are on the rise too. Banner ads are still a part of most media buys including Google, but they are still being used in an archaic way,” said Ansoo Gupta, Chief Operating Officer, Pinstorm.

Gupta pointed out that in most cases, digital is a part of a bigger media plan and thus print and OOH creatives are repeated to send across the same message, rendering banner ads unviable.
Out of the total digital advertising mix, roughly 70 – 75 per cent is occupied by YouTube and Facebook, while only 25 per cent of it is reserved for display ads and banners. Social media advertising usually comes in bouquets that offer interactivity across various websites – meaning higher RoI on low investment. On the other hand, banner advertisements require higher investment with increased expenses in terms of special creatives.

The rise in consumption of video content is another factor affecting banner ads. Targeting a whole new set of audience, marketers started investing on video ads more as compared to creating a digital banner.
How to make the most of your penny? 
Banner advertising is not limited due to its expensive nature but due to comparatively cheaper options. Thus, if marketers set out with a strong intent, coupled with creative strategy and brand message, banner advertising can be very successful.

“Digital banner provides reach with the obvious scale of internet and at the same time helps in targeted communication,” said Harshil Karia, Co-Founder and Online Strategist, FoxyMoron.

Karia mentioned a banner executed by Asian Paints; the details of the users were taken within the banner itself for a color consultancy, creating a lead for the brand within the banner itself.

Digital banners have the intrinsic strength of creating a strong call of action. “Since targeting, engagement, immediate call to action is possible, digital banners can help a brand to gauge response to the brand message, product, campaign and fine tune its marketing plans based on audience response,” said Chaya Balachandran Aiyer, Founder-MD, BC Web Wise.

An initiative as simple as embedding a video in the banner can attract user attention. Vodafone ZooZoo and Godrej Sonia campaigns were seen embedded in banners with a message saying, ‘click for audio’. A number of users were attracted mainly because the banner gave users an option of audio – they were non intrusive and offered entertaining content.

“The banner on its own just helps in OTS. It is what you can do with the interactivity that a digital banner can provide. Can you show a different banner ad for different kinds of content/ search terms, personalise the banner ads, change the ad depending on the time-of-the-day,” said Gupta.

With a change in marketer approach, tailored content and strong call for action, banner advertising can create a lot more impact than what is attributed to it now.

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