Some of the world’s biggest brands are now using the internet as a marketing channel in equal measure to TV, radio, press, PR and other more traditional marketing formats.  American Express, Nike, McDonalds, Adidas, Land Rover, BMW and British Airways are marketing online more now than at any other time in their history.

There are two big winners in this new climate, firstly online media platforms, and secondly companies of varying size who choose to market wisely online.  Yahoo’s profits for the last three months of 2004 rose to $187m, up a full 105% on profits from the same period in the previous year – profits made possible by banner advertising revenue.  The ability of internet technology to segment and filter audience groups make it a compelling platform for companies wishing to target specific audience types or demographics.

Jeff Lanctot, VP of Media at Razorfish, the largest online ad agency in the US comments “We saw a complete change of philosophy last year, faced with a multi–channel media landscape and corporate belt tightening, marketing departments began to see online advertising as a cost effective medium.  Brand advertisers once considered online an emerging technology they should test but in 2004, they considered it an essential part of their campaigns.”

This view is reinforced by findings from a JupiterResearch report, which forecasts that by 2009 online advertising revenues will have doubled, to $16 billion in the US, and €5 billion in Europe.  Whilst online spending increased 27% across these geographies in 2004, it still only composed 4% of overall media spend – by 2009 this will be closer to 10% of media spend.

This global trend is reflected closer to home with the number of Irish based, indigenous online businesses providing credible media platforms.  Organisations such as PropertyNews.com, WeddingsOnline.ie, BelfastTelegraph.co.uk, 4ni.co.uk and recruitni.com are offering clearly targeted, focussed advertising, sponsorship and promotion packages to companies wishing to include online advertising as part of their broader mix.

Sadly many Northern Ireland companies view the web with scepticism as a marketing medium.  We need to challenge this, and explore how its unique environment can enhance our businesses’ internal and external communications.  As I have commented before, the web is coming out of its growing pains, and the theory book and case studies have been well written on many aspects of its operation.  It is important that while organisations don’t rush headlong into web advertising for its own sake, that it is explored as a credible medium to get targeted relevant messages to your audiences.  Others have used it profitably to the benefit of their organisation – quite possibly it is time for your organisation to consider the same.