No matter the product you’re advertising, you want to ensure you’re advertising it in a smart way so that you secure the biggest profit possible. There’s not necessarily one fool-proof way to advertise—different techniques work for different companies. That said, it’s a good idea to take market share into consideration when you’re planning your advertising strategies. Let’s define this term and talk more about it.
What is a Platform’s Market Share?
Put simply, an advertising platform’s market share measures how successful they are in relation to their competitors. To determine a platform’s market share, you simply determine their total sales over a certain duration, and then, divide this figure by the total sales of the industry at large in that same duration.
Why Does Market Share Matter in Advertising?
When it comes down to it, the market share of a platform matters because it alerts you to how competitive a company is. You want to put more money into advertisements that are that are displayed on industry-leading platforms, and less money into advertisements displayed on platforms that are secondary in the industry.
Google, for example, has a bigger market share than Bing, and Facebook has a bigger market share when compared to Pinterest. We should be clear: this doesn’t mean avoid Bing and Pinterest all together, it just means you need to think about how much money you’re investing into advertisements for these platforms.
How to Determine Where to Advertise?
If you’re in the process of figuring out where to advertise, consider platforms’ market shares. Doing so will give you a better understanding of which companies have the largest influence over your audience. Of course, there are other factors to keep in mind, like the unique preferences of the particular demographics you serve, but usually, looking at advertising platforms’ market shares is a good idea. For even more up-to-date information about advertising, contact our team at Sparklight Advertising
