Online Media Buyers Set To Increase Marketing Spend
Nearly three quarters of online media buyers expect their marketing spend to increase over the next two years, with two thirds predicting an increase of up to 30%, according to research from UK web portal MSN.
The research, which predicts that online marketing spend will “soar” in the next six months, also shows that 63% of brand managers and directors already use online advertising, with an additional 15% planning to do so within the next year.
According to MSN, over half of those that took part in the survey plan to increase their online spend to the detriment of other mediums, but only if the overall economy declines further. TV, press and direct mail are expected to be the biggest losers, with online remaining an affordable proposition.
Lack of understanding of online advertising was found to be a key barrier preventing clients increasing their online spend in the next six months. However, email, broadband and increasing interactivity were identified as the main areas of development.
Commenting on the research, Geoff Sutton, director of MSN UK, said: “These figures reveal a buoyant state of the market for online and this is reflected in the number of large off line brands that have recently come online and the strong revenue statistics that the large online media owners are reporting.”
He added: “As online media owners we still have things to get right – and we will get them right- but online spend is on the increase and we need to maximise it and although industry predictions are cautious, the mood at the coal face is positive and upbeat.”
According to recent figures from the IAB, total UK online advertising spend increased by 7.1% year on year during 2001 to £165.7m (see
MSN UK: 0870 601 0100 www.msn.co.uk
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