Online Advertising Industry throws a huge entrepreneurial opportunity to the creatively enterprising types. The total value of the industry is Rs 1,800 crore. You can own your online advertising agency, where everything happens online, be it client servicing, ad campaigning, captioning and yes money making. The start up cost is lesser than that of any traditional advertising agency and about your target audience well itâ€™s the whole world.
Interactivity too is high while talking about online ads. Traditional ads are more indirect and assumption based. In case of online communication and marketing, itâ€™s two-way communication.
The industry numbers gathered through research on online ad industry for this optimism. Although as of today, the online advertisement segment constitutes only 1% of the total $2.2 billion Indian advertisement industry, it shows a promising future. The segment is likely to cross the $100 million mark by 2010.
Well here you get a global audience for your ads, while still spending lesser money than what an international TV ad. India based Ybrant Technologies, a creative service provider to e-marking, gets 99% of its business from the US. One of the major clients for online ad agencies like Interactive Avenues constitutes of NRI and other global citizens.
Primary viewer base is that of the population, which is every marketerâ€™s target â€“ the youth. Pegged currently at 40-45 million, the internet population is expected to grow to close to 100 million in the next 1-2 years. A large part of these are within 20-40 age groups.
Again you have plethora of options to choose from like building websites, display ads which would further include banners, media planning and buying, designing, mobile marketing, e-mail marketing, search engine optimization and search marketing. You name it and you have it.
Online ads are more direct and crisp (content wise and concept wise). For instance, a Google ad word count has a maximum of 25-30 characters. Design too isnâ€™t very flashy. The logic behind the execution of an online ad is simple. What might look dull as a TV ad might just work in the format of an online ad. Hence, the first step instituting an online ad venture is acquiring the required skills:
Â· Thorough knowledge of the Internet is a must. Niche skills like creativity, inclination towards search marketing, technological know how, understanding of consumer behavior etc. are also needed.
Â· Planning is extremely important.
Â· To start the agency the agency on a small scale, the cost would be around Rupees one million which would cover the cost of computers, internet connection, and payrolls. In terms of scope of operations, a minimum of certain skills are required — copywriting, designing, accounting, business develop-ping and technical administration.
Constantly keeping pace with the rapidly changing landscape of online advertising is another daunting task. Therefore one needs to be prepared to take care of the changing trends.
But the above mentioned challenges can be overcome if we understand some of the basic nuances of online advertising and explore various opportunities that this vast industry has to offer.