IAB Sets Target For Online Industry
The Interactive Advertising Bureau (IAB) has set a target for the internet to be a billion pound medium and overtake outdoors market share by mid 2006, announcing a five point plan to help advertisers get more out of online media.
Following his 100 day review of the IAB, Guy Phillipson, the trade body’s new chief executive, will unveil details of his Five Point plan for the online industry today.
Throughout February and March, Phillipson conducted personal interviews with marketing directors of blue chip companies across the FMCG, Retail, Automotive, Finance, Travel, Pharmaceuticals, Government and Leisure sectors.
The research revealed that, when it comes to the internet, advertisers fall into three categories, with sceptics who do not believe that online can add much more to their objectives for brands.
Advertisers in the telecoms, finance and travel sectors all displayed specialist knowledge of how to drive the medium and use all its strengths, while those who took the middle ground were skeptical of the internet a few years ago, but are taking it seriously now.
In order to achieve its industry objectives, the IAB will re-brand as the “Internet Advertising Bureau” with a revised mission statement; “To help marketers find the best role for online advertising, to engage customers and build their brands.” The IAB’s Five Point Plan aims to address knowledge gaps, concerns and challenges identified by the advertising community.
Commenting on the plan, Phillipson said:”I’ve listened to industry leaders, marketers and advertisers and now my main objective is to put online on the agenda of every marketer in the U by repositioning the IAB as a valuable resource for advertisers.”
He continued: “We are witnessing a sea-change in consumer behaviour where people are judging brands through online conversations. Brand image is now highly influenced by the online experience and consumers are taking control like never before. ”
The IAB’s five points centre around understanding online consumer behaviours, delivering a common planning currency and helping advertisers to use search more effectively. Educating advertisers about the brand-building strengths of broadband and helping retailers to prepare for the biggest ever online Christmas are also top of the agenda.
Understanding online user behaviour would enable advertisers to maximise their audience reach and selling potential. The IAB reveals that online has a greater reach between 10am and 7pm than any other medium.
IAB: 020 8683 955 www.iabuk.net