By Nick James
According to The European Interactive Advertising Association research released yesterday, the internet is continuing to prove the medium of choice for advertisers as they seek to maximise ad spend budgets. 81% of advertisers claim that their allocated online ad spend has grown in 2008 and predict that it will continue to do so over the next couple of years (+16% in 2009 and +17% in 2010).
82% of advertisers who have seen an increase in their online spend admitted it is coming directly from the likes of print media (40%*), TV (39%*) and increasingly DM (32%*) budgets. This is backed by the fact that three quarters (73%) state that they are increasing their use of online as an advertising medium whilst 31% of advertisers claim their use of TV is decreasing and 40% cite a decrease in the use of newspapers.
The EIAA Marketers’ Internet Ad Barometer, was commissioned by the EIAA to provide valuable insight into the role online advertising plays in the marketing mix and attitudes towards the internet amongst key advertisers across Europe. The results reveal that online is playing an increasingly important role in overall advertising strategies with 38% of advertisers now regarding online as essential (vs. 17% in 2006).
“This research shows that while other forms of media are suffering from slowing spend, online continues to take a growing proportion of advertising budgets as brands increasingly recognise its impact, value and potential ROI“ said Alison Fennah, Executive Director of the EIAA. “Advertisers in Europe are also starting to realise the economic and operational benefits that are offered through the adoption of pan-regional online strategies.”