Regardless of tightening marketing budgets, online ad spending continues to grow
Despite UK adervitsing spend dwindling as 2008′s recession continues to touch Europe and the UK, online ad spending is growing steadily.
In 2008 online ad spend grew to £3,350 millions, a 17.1% increase from 07′ and a 19.2% market share of total UK advertising expenditure – up 3.7 percentage points on 2007 (15.5%).
What’s in store for the future?
In my opinion, accurate figures are a little hard to come by due to the application of social media across all business functions and not just in communications; customer service and product support, for example. Not to mention the dificulties in monitoring and measuring online exposure.
However, some reasonable projections see growth continuing steadily into 2011.
UK Total Digital Ad Spend estimates:
2009: £10.77bn
2010: £10.90bn
2011: £11.03bn
The drivers
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Marketers are being swayed by:
- users increasing average time online
- wide acceptance of online content
- growing ease of use
- growing ability to measure ROI
the most important driver, may in fact be the steady and undeniable fall in traditional media use within key demographics.
Sources:
Are you responsible for your company’s marketing spend? Discuss your views on the shift of spend towards digital in the discussion section below.
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