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UK advertisers spend £3.54 billion online in 2009, representing a year on year growth of 4.3%.
The latest figures from PricewaterhouseCooper (PwC) and the Internet Advertising Bureau (IAB) have revealed another sizeable jump in UK online advertising spend. This latest increase is just one in a succession of incremental movements towards online ad spend, a sector that has grown 2,200% in a decade.
This growth has largely been spurred on by the newfound opportunities available to online advertisers. Most notably video advertising has increased by 140% over the past year to generate £28.3 million of expenditure.
The latter half of the year was marginally more successful, with a total of £1.78 billion spent as opposed to £1.76 in the first. In September we reported that the Internet is now the advertising medium of choice in the UK, these latest figures would certainly go a long way to confirming this position.
Paid search, or Pay per Click advertising, accounted for £2.15 billion (60.7%) of all the online advertising spend. This is a 9.5% increase when compared to figures from the previous year.
These latest statistics highlight not only how popular a draw online advertising has become, but also how diverse it is. Whilst PPC is head and shoulders above all other formats, it is by no means your only choice when it comes to spreading the good word online.
Today you can have your banners on a wide array of targeted sites and social media pages, sponsor online events or have them syndicated through advertising networks like Google AdSense. The options and opportunities are expansive to say the least.
Plus there are also more users online than ever before. The UK alone has 39.7 Internet users, which is in itself a 4.2 million rise from 2008. Essentially the Internet is getting bigger, faster and broader; the perfect environment for advertisers to gain massive exposure for their respective brands. With the recession over, budgets will grow and the Internet will no doubt be the first port of call for many.
All figures courtesy of the Internet Advertising Bureau: Internet as spend grows 4.2 per cent.
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.