If you weren’t already convinced before, then be convinced now as one of the latest reports released by eMarketer has confirmed a significant growth in online advertising in the US, by as much as 23% up from last year.
The marketing research group forecast online advertising spend this year will bring a noteworthy £25.5 million, in comparison to the traditional print industry, expected to haul in £21.8 million. This shows a remarkable growth in the online spend. The new trend is expected to continue to grow steadily over the next 10 years.
In the UK, spend on the Internet and Search Internet went up by 14.9%, according to reports from IPA Bellwether Report.
In comparison, there was also a measured decline of around 1.2% in marketing budgets spent on traditional media. The drop may seem small, but author of the report commented;
“There are signs that companies have become increasingly reluctant to invest in traditional media campaigns, instead diverting money towards the internet.”
The report, which concluded its survey from 300 UK media and marketing executives suggested after further study, the increase in spend was a move to protect their market share, and nothing to do with consumer confidence.
When the IBA, (Internet Advertising Bureau) highlights that British consumers are spending 25% of their time on social media; it’s hard not to believe that this is real reason media companies are increasing their online advertising spend. We don’t just ‘hang out’ online, we buy online.
Lets not forget the digital driven world we now live in, where almost every face you pass in the street is glued their smart phone. Econsultancy announced in their blog today that mobile accounted for 12% paid search clicks in the UK during the month of December. Spend share of mobile and table devices for that month rose by 29% claiming a 7.5% share of total search spend.
I don’t believe this is decreasing any time soon, so if you’re in business and you’ve not invested in some kind of online advertising yet. I hope this is convincing enough to encourage you that you must, and soon.