Where do you think consumers spend the most time on the internet? The answer may surprise you. While social media as a whole maintains a slim lead over other sources, it’s not the juggernaut you may expect. People are starting to spend more time elsewhere, from connected TV (CTV) to music streaming to web browsing. Amid this ongoing shift, it’s important to not limit your company’s advertising plan. We can help you make the most of growing sectors to reach your audience where they spend their time. Below, we explain why it may be a good idea to expand your advertising reach beyond social media into the realm of the open web.
What is the Open Web?
The open web consists of all the internet channels beyond the closed walls of social media. This includes general web browsing, digital audio streaming, digital public display advertising, CTV and gaming. According to a new survey from the audience profiling tool GWI, social media currently attracts 24% of user attention while the open web captures the other 76%. Here’s a closer look at how the data breaks down:
- 24%: Social Media
- 20%: Streaming Music
- 20%: Streaming Online TV
- 15%: Gaming
- 11%: Reading News/Articles
- 10%: Podcasts
Advertising on the Open Web with a Diverse Approach
Despite the growing segments of the open web, social media advertising is expected to exceed $173 billion in 2022, accounting for 33% of all digital advertising spending. It makes sense: social media advertising is a familiar avenue for advertising, with available audience targeting toolsets and analytics. But there are also plenty of reasons to expand spending to the open web—the numbers alone justify a varied approach. Nearly two-thirds of all homes in the United States use some form of CTV video, and that figure is rapidly growing as more and more viewers decide to cut the cord.
Additionally, due to controversies regarding the legitimacy of news on social sites, consumers trust advertisers more on the open web than they do on social media. In fact, 77% say they trust the information on the open web more than information on social sites like Facebook or Instagram. The open web is where users go for product or brand research; it’s where they go when they’re in a mood to learn. For this reason, it allows your advertisements to reach a more perceptive and receptive audience.
Succeed with Market Mentors
As consumers start to diversify their internet usage, make sure your company keeps up. The best approach balances emerging technologies with other, more traditional advertising mediums. Are you interested in learning more about the ways Market Mentors can help you diversify for advertising and expand your reach? Reach out and contact us today.