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Interesting to see that the IAB and Price Waterhouse Coopers latest report shows that, while overall marketing spend has slid by 16% due to the recession, spend in online marketing grew in the UK by approximately 4.6% to £1.752bn between January and July of this year. For the first time ever, the amount of money companies spend on online advertising has overtaken that spent on TV advertising.
This comes as no surprise at all to us here at I-COM. We're seeing the recession accelerate companies' migration of advertising spending from more traditional media to digital technology.
It's no wonder that online advertising and marketing has grown even in such difficult times. Growth in online adverts is driven by;
- Multi-media / Rich Content: Online Video and interaction makes the internet much more engaging
- E-commerce: People are now taking to the internet to find bargains and discounts, especially in recession
- Direct Response: Marketeers can measure the success of online advertising much more effectively
- Cheaper Broadband / WIFI Services: Allow for a much wider audience whom advertisers can provide with richer content
More and more clients are coming to us looking to get the best possible Return on Investment for their advertising spend and more importantly, are realising that digital media, particularly search marketing, provides the best possible ROI.