IAB engage for finance: “Online provides the solution”

Online advertising can provide the solution in the current economic climate, according to speakers at the ‘IAB engage for finance’ conference in London this morning.

The general opinion at the IAB’s event was that online should be at the core of every marketing campaign as it is still growing and accountable, despite the recent advertising downturn.

Speaking at the Internet Advertising Bureau’s first finance conference of the year, marketing director Kieron Matthews said there is no doubt that online advertising is growing, unlike other mediums.

Matthews used Barack Obama’s successful election campaign as an example of “the power of the web”, by using social networking sites such as Facebook and MySpace to reach mass audiences for very little cost.

Microsoft agreed with Matthews – Tom Pearman, finance category development manager, said that as budgets are tightening in the current market, the efficiency of online advertising means it is well-placed to provide the perfect solution.

Google’s industry director, Ian Carrington, said: “Online sources drive 35% of brand consideration and engagement.”

Carrington said online should be the focal point of campaigns because online spending is up, broadband take-up is increasing and other channels are now becoming digitalised.

However, he added that “digital shouldn’t be a stand alone medium”.

Tam Roseveare and Kate Hussey used Swiftcover car insurance as an example of how mobile is the right position to link with online advertising.

Swiftcover has recently created a mobile site to mirror its online car insurance site, enabling users to get ‘online’ quotes by text to their mobile phones, as well as a full email quote with purchasing information at the same time.

Roseveare thinks that mobile advertising works well with online as it provides a direct response, bringing the user closer to acquisition and advertisers will have the ability to “hit a fresh demographic of users”.

Matthews added: “Integrated campaigns work most effectively.”

Microsoft said it is also vital to understand how each medium works as part of the process to drive the sale, “don’t just focus on the final point of sale,” added Pearson.

Guy Beresiner, head of client strategy at Yahoo! said it is possible to do that with online because advertisers can trace the virtual footstep of users and see what ads they are looking at.

Beresiner said the possibilities of online are endless, especially with the use of behavioural targeting because advertisers are in a position to collect information, build profiles and then get relevant ads directly to “interested users”.

He said: “Behavioural targeting is about accuracy and precision.”

Matthews added: “Advertisers need to understand their audience and what they’re doing online.”

IAB: 020 8683 955 www.iabuk.net