Executives at search engine Google have predicted that their own way of advertising their services could soon become the standard across the industry.The company is known for minimising its advertising spend while reaping some $30 billion in advertising revenues and stashing away $12.5 billion in the last six years, the Associated Press reports.
While benefiting from its own online marketing efforts, Google has not concentrated on other formats such as television as much as its competitors - Yahoo! and Microsoft have been seen to spend over a fifth of their yearly sales income on advertising.
Meanwhile, Google spent about eight per cent of revenues on marketing efforts last year, according to its financial statements.
David Lawee, vice president of marketing for the search engine, said that this approach could become more commonplace among advertisers who begin to use technology as a way of targeting consumers.
"We are at an inflection point that could radically change the way marketing is done," he commented.
In related news, Mike Steib of Google recently told Adweek that the search engine firm's online buying and selling system for television ads has had a "successful and encouraging" start since it launched six months ago, selling over 100,000 spots to advertisers so far.
The system, which is run in partnership with television service providers EchoStar and Astound Cable, automates the entire television advertising process for customers and is based on the same auction model as Google's AdWords scheme.
