I doubt anyone who works in the Internet industry needs any evidence of the huge surge in activity over the past year. Virtually everyone I speak to these days is reaping rewards.
European Online Marketing Spend 2008
We all need figures to back up our assumptions and budget proposals. Here’s a handy prediction from IAB Europe which shows that Europe is fast catching up with our North American counterparts when it comes to advertising spend online:
[O]nline advertising spend within the IAB network in Europe during 2007 will reach 11.5 billion euro, up from 8 billion euro in 2006. This is a like for like increase of 38% on last year’s market value. The spend includes values for display advertising, search marketing, classifieds and directories and email marketing.
The release goes on to mention that in emerging markets the increase is likely closer to 70% YoY, and predicts 30-40% increases in the UK, Denmark, France and Germany.
I like the hypothesised drivers of this growth:
The growth is driven by higher levels broadband penetration across the regions and increased advertiser confidence in the medium.
Of course here in Ireland we don’t actually have demand for broadband… Oh, actually, that was the old eircom…
Every market identified the same trends to watch in 2008: web TV, mobile internet, behavioural targeting and social media.
I would imagine they were most of the trends we were all watching carefully in 2007. Although, in line with my recent post about Multivariate and A/B Testing, I reckon that BT will take off more and more.
I wonder if their are equivalent Irish figures available? If anyone knows if these stats exist I’d love to hear from you in the comments.