From What You Think You Know About the Web Is Wrong by Chartbeat CEO Tony Haile:
For the last few years there have been weekly laments complaining that the banner ad is dead. Click-through rates are now averaging less than 0.1%… If you’re a direct response marketer trying to drive clicks back to your site then yes, the banner ad is giving you less of what you want with each passing year.
However… if your goals are the traditional brand advertising goals of communicating your message to your audience then yes, most banner ads are bad…. but…. some banner ads are great! The challenge of the click web is that we haven’t been able to tell them apart.
Research has consistently shown the importance of great ad creative in getting a visitor to see and remember a brand. What’s less well known is the scientific consensus based on studies by Microsoft [pdf], Google, Yahoo and Chartbeat that a second key factor is the amount of time a visitor spend actively looking at the page when the ad is in view. Someone looking at the page for 20 seconds while an ad is there is 20-30% more likely to recall that ad afterwards…
Here’s the skinny, 66% of attention on a normal media page is spent below the fold. That leaderboard at the top of the page? People scroll right past that and spend their time where the content not the cruft is. Yet most agency media planners will still demand that their ads run in the places where people aren’t and will ignore the places where they are.
For quality publishers, valuing ads not simply on clicks but on the time and attention they accrue might just be the lifeline they’ve been looking for.
(Thanks to Patrick Murphy for the tip.)