Online Marketing Keeps on Targeting!
Last year saw online ad spend reach £3.5 billion. For the first time, online media has overtaken traditional media to become the UK’s largest advertising sector as SMEs increase investment. Despite an overall global reduction as a result of businesses trying to cut back avoidable costs, online marketing continues to rise and it’s not difficult to see why!
According to different surveys conducted by commerce and advertising monitoring groups, in 2009, paid search, or PPC, increased by 9.5% to £2.15bn. As a result, businesses are also now competing against an increased number of bidders when using Google AdWords to market their brand identity and obtain high ranking visibility. The last twelve months has seen more SMEs integrating PPC and SEO into their overall marketing strategies.
A key reason seems to be the ability for the precise tracking by website analytics of campaign performance and thus, an efficient method to measure return on investment. Specific campaigns can be closely monitored and amended, determining future budget allocation based on proven results and target market response. The long-term strategies inherent in organic SEO, e.g. link building traffic, can also be assessed for keyword traffic, audience behaviours and site conversions.
However, it is strongly suggested that much of the real increase in online advertising has come about mainly due to the increasing migration by the user population through ever more platforms, i.e. mobile, netbook and tablet, and through social media channels, e.g. Facebook, Twitter, YouTube, blogs and forums. In other words, more people are spending more time engaged online!
Even traditional broadcast mediums, like terrestrial television and radio, clamour ceaselessly for their viewers and listeners to respond via Twitter ( formerly it was all about sending text!). Accordingly, observing the striking changes in consumer behaviour has led to rapid reappraisal of what it means for a business to market themselves, their products or services in the age of virtual social engagement.
As the results of marketing studies are increasingly demonstrating, many of the forward-thinking businesses, predominantly youthful SMEs in the vanguard, have embraced the online marketing environment and involving themselves less in hard to track, traditional means of promotion. Inevitably, budgets are being taken away from the more traditional marketing avenues, like print advertising and direct mail, to fund increases in online spend.
Even as you read this, a new generation of affordable smartphones and their accompanying mobile apps are launching, and location marketing, exemplified by Foursquare, gains traction. Only the most nimble, sharp-eyed and savvy of eCommerce business, as ever, will be positioning themselves to take full advantage of the continuing online revolution.
