Advertising has greatly changed in the past few years due to the rise of the internet and smartphone use, but it is not too late to get in on the action. Cell phone and online traffic is expected to grow once use becomes more prevalent. Last year alone speaks volumes: Targeted online advertising made $62 billion in the United States.
Facebook is an example of a website that benefited from mobile advertising revenue. In the past, Fast Company contributor Austin Carr writes that Facebook "had long been chastised for not doing enough to spur growth in mobile," but found great success in the third quarter—making about $2.02 billion in revenue – about 49 percent of which came from mobile advertising.
The rampant use of social networks have also proved to be valuable for businesses of all sizes. Marketing expert Heiden Cohen found that companies that had photographs on their Facebook page received 37 percent more engagement and 14 percent more page views.
On top of the fact that 33 percent of Millennials are more likely to make a purchase from an organization that has a Facebook page, marketers may want to consider investing in videos, banners and mobile advertisements on this website.
Though almost half of Facebook's revenue came from mobile advertising, it was not always like this. In 2012, mobile advertising revenue accounted for 14 percent of business, bringing in about $152 million. Whereas in 2013, growth hit about 478 percent, valuing $882 million.
Reach from Facebook has great potential, with about 1.19 billion monthly users. Companies that partner with Key Media Solutions will have the tools to understand the online banner advertising market, as well as have the tools to make the most out of their own advertising budgets.