The Advertising Association’s Advertising Statistics Yearbook 2008 states that internet advertising was the fastest growing medium – increasing 39.5% from the previous figure. Overall advertising expenditure reached £19.4 billion in 2007, up 4.2% on 2006′s figures.
Over 70 per cent of companies use Search Engine Optimisation, Paid Search and e-mail marketing to in-house lists.
The eMarketer survey also revealed that total ad spending is poised for a hit, with nearly two-thirds of respondents saying it would fall as a result of the economy.
However, advertisers are to spend an estimated £3.4 billion online in 2008, a rise of 27 per cent from the year before.
A healthy outlook is also predicted with internet advertising spend continuing to show double-digit growth through 2010, passing £4.3 billion in 2010 and exceeding £5 billion in 2012.
Internet advertising should hold its own in the UK, and may even consolidate gains over other media during the economic decline, according to eMarketer.
Because online channels are more accountable and cheaper than television, print and other traditional media, they can help advertisers to boost brand and market share even when money is tight.