Digital advertising is steaming ahead as one of the primary ways to increase business, and it shows no signs of stopping anytime soon.
Annual revenues jumped a massive 12.5 per cent to a record £5.4bn last year, according to the Internet Advertising Bureau’s latest digital ad spend report. This latest digital boom is due in part to the increased demand for mobile devices, with mobile ad spending rising by 148 per cent to over £500m and now accounting for a tenth of all digital spend.
Video advertising is also on the rise, up by 46 per cent, and social media is following suit, rising 24 per cent over the course of 2012.
The Internet is a unique mass medium that promotes direct interaction between brands and their consumers.
Over the last year, the fast-moving consumer goods (FMCG) sector also overtook the financial services sector to be the biggest display advertiser as FMCG marketers realise digital’s power in building brand awareness and boosting integrated media campaigns.
Tim Elkington, the Internet Advertising Bureau’s director of research, commented:
“Marketers are becoming more attuned to the ‘always on’ nature of consumers who expect to engage with content wherever they are.”
Online advertising is no longer optional for most businesses looking to make it big. Search engine optimisation, videos and social media are more important than ever before.