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flash banners are good for people that have flash on their machine.
problem is, many do not.
animated gif gives best universality, although not as dynamic as flash.
surprising, but sometimes a simple text link will have just as good C-T-R.
depends on what you're trying to say, how long the banner will be seen on the page (ie. sometimes a flash banner at bottom of long text page will have better C-T-R than one at top of short page, because it will have more time to load, etc.)
lots of variables here.
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