The Internet Advertising Bureau and the PwC Network today reported that internet ad revenue hit $6.4 billion during the third quarter of 2010. This represents the industry's highest quarterly result ever, and marketers may want to consider boosting their internet marketing spend accordingly.
Last quarter demonstrated a 17 percent increase over the same period last year, says the IAB. Officials expect this is welcome news to marketers shifting their brand messages online to save funds "in a difficult economy."
Randall Rothenberg, president and CEO of the IAB, suggests internet marketing not only assists marketers in an economic downturn, but also accommodates consumers' changing shopping behaviors. "Marketers have embraced digital media because that’s where they can engage with their consumers," he said.
David Silverman of PwC agrees that consumers are increasingly engaging brands online and moving away from traditional media. He speculates that internet commerce and digital marketing will continue on a positive trend.
Brands investing more heavily in online marketing strategies will be pleased to learn that ecommerce is expected to rise in the coming months. As Brafton recently reported, eMarketer predicts that consumers' online spending will exceed $51 billion during Q4 2010, growing 13.7 percent over the same quarter last year.
