The roots of advertising run deep. The earliest known record of an advertising agency dates back to 1786. Back then, newspapers became the dominant platform of advertising and then the emergence of television in the 20th century brought new dimensions. Being subject to technological innovations, the evolution of the advertising sector remained perennial.
Social Media in the beginning
Today, two decades hence the advent of social media (considering Six Degrees, launched in 1997, as the first recognised social media platform), the dynamics of advertising have transformed substantially. Gone are the days when advertising used to cost more than the cost of production itself and yet the outreach remained abysmal. With the advancing technology and increased Internet penetration, advertising is now more effective than ever as its reach has gone global and its cost has turned pocket-friendly.
It is thus crucial for the businesses to evolve with ever-evolving 'ad-world' to ensure maximum impact. While the big firms were quick to match steps with the advertising trends, the MSMEs too followed the suit with cost-effective web advertising. Although it must be noted that only the knowledge of all available platforms don't suffice. Leveraging advertising tools is the factor that brings in the major difference. For instance, it is a sine qua non for businesses to draw insights using data analytics before deciding on the advertising strategy and platform. Harnessing the business data helps a venture put the right amount of funds at the right platform of advertising. Thereby, reducing the input cost and multiplying the dividend. Another determinant of the effectiveness of the advertisement is 'target audience segmentation'. The phenomenon, widely accepted as a fundamental strategy in communication campaigns, makes the advertisement drive better-yielding as messages are tailored for the distinct subgroups.