Globalization, Without the Brick Throwing
Globalization is rapidly progressing across many different industries and businesses and is no longer a fringe trade summit concept good for a summit photo op and then avoided by economic policy wonks–it’s powerful and a huge contributor now in online advertisings future and growth. The international non-American advertising market is booming.
Automobile, food, technology and more bricks and mortar oriented companies have been trying for several decades to penetrate global markets. The barriers of copyright, manufacturing, currency, distribution, trade barriers, and politics are so great that it takes leading government officials several summits and a lot of favors to make small steps in allowing product to flow across borders. Only in recent history would you have found your favorite food, car, or beverage brand in China, Germany, France, Russia etc. These markets measure progress in decades, not months.
In his book, ‘The World is Flat’, Thomas L. Friedman points out how the business world is becoming borderless and opportunities for the execution of ideas is moving faster than ever. On occasion when watching the news you will see raging conflicts between rioters and economic policy makers around the world attempting to forge agreements to lower barriers and enhance economic freedom or control. Rioters scream that globalization is making the poor poorer and the rich richer. Yet online advertising flies well below that radar and will expand rapidly without one thrown brick.
Globalization is not just an economic concept, but also a reflection on how concepts/ideas and business opportunities such as search, lead generation, display advertising, telemarketing and other media are being adopted across the world at a new enhanced speed. A couple of years ago the Chinese online advertising market was nearly non-existent. Today, it’s starting to boom with companies like Motorola who launched a new line of youth-oriented mobile phones in China last year it only advertised only online hiring college students with homemade videos of themselves lip-synching Western pop songs called the “Back Dorm Boyz,”.
It was a hit and achieved over 14 million pageviews. According to Shanghai-based Iresearch Online, ad spending in China has been growing by more than 75% annually for the past three years. It’s expected to reach $812 million this year and top $1 billion in 2007. It’s not uncommon for USA educated and experienced advertising executives to bring their talents back home and starting online advertising firms.
The European market is also booming in search and online display advertising, as recent Ad:Tech speakers on the “Global Digital Marketing Opportunities” panel pointed out how a combined Europe rivals the USA in reach and opportunity. Emarketer estimates that online advertising growth exceeded 38% from 2004 till 2005. Gal Ekstein directs regional European sales in such markets as France and Italy for Oridian and points out that these markets are maturing very fast, “The French are some of the biggest online spenders in Europe and achieved nearly 40% growth from 2004 to 2005. Europe is moving very fast and regional advertisers are focused on reach and response”.
The EU-5 (UK, Germany, France, Italy and Spain), as they are known, are leading the way in trying to dominate the online advertising growth. Neta Lev directs European sales for Oridian in such markets as Spain and also Latin America and reinforces the point that while growth is happening and important, transparency, response and professional guidance is also a primary factor, “Our advertisers expect response, but also complete transparency of the properties and method within their online media buying. Some may think that smaller markets like Latin America would not be as sophisticated, but nothing could be further from the truth as they expect planning and professional execution.”
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