Online display ads have gotten a bad rap lately. It’s a format, according to many sources, with declining investment and waning effectiveness.

But a study from iProspect may have discovered an unexpected benefit of online display ads.

When Internet users were surveyed to find out what actions they took when viewing a display ad on an ad-supported Website, nearly one-third said they clicked on the ad.

In addition, 27% reported that they did an online search for the product, brand or company, and 21% typed the company Web address in their browser. Nine percent sought additional information using social media tools.

That means a click is only one measure of a display ad’s effectiveness.

Among respondents who saw a display ad and performed a related search at some point, the largest proportion (38%) visited the advertiser’s site through search results, 11% searched but did not click on any of the results, and 14% searched, visited the site and purchased the product advertised.

How likely ad responders were to purchase a product depended on how well-acquainted they were with the offering or company.

One-third of those who knew the product eventually purchased, compared with 14% of “first timers” who learned about the offering or the company and eventually bought something.

“Online display advertising is far from dead,” said Robert Murray of iProspect.

“In essence, search is an alternative mechanism for Internet users to respond to online display,” he added. “If marketers are going to invest in display then they should leverage search marketing to help them capture the demand that display advertising creates.”