News Article Published:
Wednesday, 17 October 2007
Category:
Insurance
Online advertising takes up more than six per cent of marketing spend in the UK, according to a recent report on the third quarter of 2007.
The Bellwether Report from the Institute of Practitioners in Advertising revealed that 22 per cent of UK companies allocated ten per cent or more of their marketing budget to the internet in the third quarter.
A further 40 per cent allocated at least five per cent to online spending.
The survey also found that 31 per cent of UK firms increased the budgets for online marketing compared to seven per cent who brought it down.
Ed Ling, deputy chairman for IPA Digital said in a statement: "If as has been speculated, growth has peaked in this quarter, this is something that we're not seeing in the digital sector. In fact, as marketers gain a greater understanding of the internet's role within the overall marketing mix, we may see a more realistic approach to budget setting."
Overall the industry saw increased spends with 24 per cent of firms raising their marketing budget compared to 15 per cent bringing it down.
Increased budget spends were most frequently seen in services sector, computing and travel while firms in the industrial and auto sectors were most likely to drop their spend.
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