Why Advertising Dollars Are Shifting to Online Promotions
The Era of Advertising is over and the Era of Online Promotions has begun
We’re all tired of hearing about “tectonic shifts” and “fundamental changes” in the media world. But something truly remarkable did indeed occur a few years ago – something that signaled the end of a century-long Era of Advertising.
The marker appeared in 2007 as the economy was running on fumes and getting shakier by the day. That year, local businesses did something they had never done before. They began spending more on promotions and “owned media” — marketing channels that they control — than on classic advertising. And as the economy started to recover, they began spending a lot more.