A friend of mine recently told me that his new boss refuses to market the firm’s website because she thinks internet advertising is a ‘flash in the pan’.
When my poor friend eventually got a word in edgeways, he said he understands the value of the internet as a marketing platform but needs to explain this to his employer.
Therefore, to help him and any other people whose bosses need a little encouragement I have compiled a list of what I consider to be the most compelling recent sector information. This collection of research should help anyone making a case for internet promotional work.
If your boss still won’t take their marketing online, I would recommend looking for an employer with more longevity!
The numbers vary slightly from analysis to analysis but the trend is always up. Even within the current economic climate, it is widely held that the amount spent by companies (tell your boss that includes competitors!) will continue to rise.
A report released by Research and Markets forecasts growth in online advertising of 31.4 per cent this year, following high expenditure in 2007. According to the analysis, last year the internet was the fastest-growing medium for advertising.
The Internet Advertising Bureau reports that spending on web advertising rose to £1,682.5 million in the first six months of the year. This is growth of more than 20 per cent on the same period in 2007.
Research by the European Interactive Advertising Association reveals 81 per cent of advertisers say they have increased the amount they spend through online promotions this year. Those questioned forecast a further 16 per cent growth in spending levels next year and 17 per cent in 2009.
Research agency eMarketer suggests the web is so useful because it engages with consumers by encouraging interaction. Furthermore, it explains, internet marketing allows firms to communicate with prospects through the entire buying cycle.
A study by the Internet Advertising Bureau finds web-based advertising is the main source of consumer brand engagement for retailers. It suggests online marketing creates 40 per cent of consumer relationships, compared to just 19 per cent for TV ad spend.
The web is becoming increasingly popular as a marketing platform because results can be measured and consumers engaged, but also because of the rising number of people online.
Analysis conducted at the start of the year by Nielsen shows more than 85 per cent of the world’s web-accessing population have made at least one purchase online. This, it noted, is a 40 per cent rise over the two years to January.
In July alone, these consumers spent a whopping £4.8 billion, according to the IMRG/Capgemini e-Retail Sales Index August 2008. That is an incredible £79 for every single person in the UK.