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Internet advertising in the UK increased by 13.5% in the first half of 2011 according to a survey conducted by the Internet Advertising Bureau (IAB), which puts spend for the first half of the year at £2.26 billion. When this is compared to overall UK advertising spend, the rise is particularly significant; there was a year-on-year growth of 1.4% to £8.27 billion between January and June 2011.
The figures have been fuelled by a surge in FMCG advertising as well as online video, which surpassed any forecasts and means that a quarter of a billion pounds more was spent on Internet advertising in the first half of 2011 compared to 2010. This puts the market share for online advertising at 27% of overall UK advertising.
Online display is still dominated by banner ads which account for 73% of the display market, but there have been some impressive increases concerning other platforms. For example display advertising increased 18.5% to £510m (23% of total online ad spend – which increased from £440m and 22% in the first half of 2010), whilst online video accounted for a 100% growth (45 million and 9% of online display market share). IAB state that this is due to an increase in advertisers using video to deliver brand messages.
In terms of paid for search marketing, there were big improvements here as well. Search increased by 12.6% year-on-year to £1.3 million and represents 58% of online advertising. IAB believe the popularity of this advertising platform is largely down to its effectiveness at delivering and measuring traffic, especially for those who have limited budgets.
For search engine marketing, these figures make good reading. Companies with limited budgets still want to stay visible, and so they’re looking at more performance-based marketing platforms; this is things like pay per sale. This area grew by 20% to £26 million, that’s an increase of £4 million from the same period last year.
As mentioned it was the Fast Moving Consumer Goods (FMCG) sector that played a huge part in the overall increase of 13.5% in online ad spend, who account for 15% of the market in terms of expenditure. Other big players include the finance sector (16%0, entertainment and media (12%), travel & transport (10%) and retail (10%).
The FMCG sector’s increase in online ad spend comes at a time when they’ve become particularly engaged in search engine marketing [See: Improve Your Brands Visibility with Search Engine Marketing]. This method is proving effective for many brands and these recent figures have proved that FMCG’s are taking advantage of the surge in online purchasing of their goods, whether it’s toiletries or grocery items.
With faster broadband speeds and advancements in technologies, Internet advertising is becoming more prevalent. The popularity of tablets and Smartphones will also play it’s part in getting more people online and so making sure your brand or business is seen online has never been more important.
Online advertising is still on the rise, but as many businesses across many sectors have shown, being visible is important to getting that increase traffic and custom. So if you’re business or brand isn’t advertising in some form or another you could be missing out on a huge slice of the pie.
Business Graph Output Growth Of Silver Bars via BigStock
In today’s multichannel world, there are mountains of data which provide insights into how users have interacted with your business and their path to conversion (or non-conversion). It is important to understand performance with multichannel marketing, which can be achieved through attribution modelling. Attribution refers to assigning credit to something (a channel, touchpoint, etc.) for the role it played in the final conversion. An attribution model is a rule, or set of rules, that assigns this credit correctly to the right channel or touchpoint.
For a long time, Bing, the UK’s second-largest search engine, has been underappreciated and, in some instances, even ignored. Often regarded as the inferior search engine to market leader Google, Bing has historically struggled to appeal to many in the digital world. Most PPC analysts would give justified reasons for neglecting Bing for so long; these include the volume of traffic and the user experience just not matching up to Google. However, the validity of these assessments is now diminishing. Bing has grown and improved rapidly in the last couple of years; if you are not integrating it into your comprehensive digital marketing plan, you run the risk of missing out on a large portion of your chosen market and significant revenue.