If You're Online and You're Rich, You Probably Read the Blogs
According to a study by The Luxury Institute, a whopping 76 percent of Internet users in the U.S. who earn more than $150,000 a year read blogs. This is way up from 57 percent only two years ago. And 24 percent of this group blog themselves.
Where the wealthy go, the money and advertising dollars will follow. Blogs are an ideal platform to serve niche content to targeted audiences. Advertisers are just beginning to discover that spending money on blogs is a cost effective way of getting the word out and, even better, getting metrics on campaigns.
The value proposition for online advertising is overwhelming: reach X number of readers and learn that Y will click on your ads (and perhaps take further action, such as making online purchases) versus buying advertising space on the back cover of a print magazine, for example, and have almost no idea of how many people get the message.
At least I see it as overwhelming. The sea change is already happening but it will be slow and gradual as the old line traditional media companies (and their advertisers) wake up to the realization that the Internet is now the predominant platform for the consumption of information. And it’s great that the blogosphere will be an important part of this shift.