The future of advertising is digital. It’s no secret that print and television ads are less accessible and less effective than digital ad formats, but the two most dominant advertising platforms continue to maintain their dominance over the US digital ad space.
Digital ad spending will reach $83 billion in 2017, a 15.9% increase from 2016. Google is the biggest platform with 40.7% of US digital ad revenue, more than double Facebook’s share of the digital ad revenue market. eMarketer predicts Google’s percentage of the search advertising market will grow 16.1% in 2017.
Meanwhile, Facebook is dominating in display advertising, capturing 39.1% of the US market. Facebook’s users are increasingly captivated by videos on the platform, on Facebook as well as on Instagram. And according to Advertising Age, Google and Facebook will continue to grow. They will control 57% of all mobile advertising this year, and that rate is projected to reach 60% by 2019.
In an article published by Fortune Magazine, author Mathew Ingram writes, “The good news is that digital-advertising is growing strongly, with revenues up sharply in 2016. The bad news? Virtually all (65%) of that growth is going to exactly two companies: Google and Facebook.”
The article’s title is a good summation of how Google and Facebook have, in fact, taken over the digital ad industry. Smaller companies will continue to operate in the shadows of the industry’s two dominant players.
As an automotive professional, the best way for your company to react is not to pit Google against Facebook, but to leverage both these digital giants to reach your market in sales and service. If you are effectively leveraging both Google and Facebook, you will reach 90% plus of auto intenders in your market.
Adding a diverse platform of marketing tools to your dealership’s strategy can harness the power and influence of Google and Facebook in a personalized way that targets individual auto-intenders and consumers!