According to CMR, ad spending in business-to-business magazines dropped 21% in the first half of 2002, the worst by any media. Where is that money going? The Interactive Advertising Bureau has one answer: search engines.
Keyword search revenue increased more than 350% from $82 million in 2000 to $288 million in 2001. Remarkable given that total online ad revenues declined 12% last year.
B2B advertisers should take heed. A washingtonpost.com survey found that 77% of business decision-makers polled said the Web is the place they find out about new products and companies. And nearly half noted that magazine and newspaper readership had decreased.
Nielsen//NetRatings added that online usage at work jumped 17% year-over-year in August, as nearly 46 million American officer workers, 25.3 million men and 20.4 million women, logged onto the Web at work that month.