Online marketing defies recession
Online marketing adspend has continued to grow in spite of the recession, according to the findings of a major new study.
This week, the Marketers' Internet Ad Barometer 2009 was published by the European Interactive Advertising Association. The industry trade association quizzed senior marketing executives across UK and mainland Europe spanning sectors such as retail, finance, entertainment, telecoms, travel and motoring. And 83 per cent of respondents said that their online adspend in 2009 has surpassed 2008 figures.
Looking ahead, the marketers have predicted that their online expenditure will grow by 7.6 per cent in 2010 and a further 15 per cent in 2011. This comes at a time when many advertisers are cutting budgets as a result of the economic downturn.
Targeting and value drive online adspend
And the survey gave an insight into what is driving the boom. Some 36 per cent of marketers said that better targeting opportunities were encouraging them to spend more online, while value for money was picked out by 31 per cent of respondents.
Alison Fennah, director of the European Interactive Advertising Association, said: "The Marketers' Internet Ad Barometer findings reveal that online advertising is continuing to thrive and grow due to its flexibility, accountability and ability to offer brands a robust return on investment whilst the recession impacts overall marketing budgets.
"Online advertising is further consolidating its position as the medium of choice for marketers."
The term 'online advertising' typically covers a range of marketing activities. Pay-per-click enables advertisers to get their ads on search engine sponsored listings, while search engine optimisation enhances their profile on natural results. Meanwhile, social media marketing is a newer discipline that aims to engage with users on networking sites such as Facebook, MySpace, YouTube and Twitter.