The UK now boasts the biggest digital advertising market in Europe, according to recent research. The report by advertising think-tank, Credos and Enders Analysis discovered that UK advertisers will spend almost two-thirds (62%) of their budgets online by 2020.
The digital marketing UK industry has gone from strength to strength in the UK. As of last year, the sector experienced eight consecutive years of growth. Media research firm, Group M, believes the industry grew by 4.8% last year.
All of this equates to around £1,868 being spent per person on digital advertising and marketing in the United Kingdom ecommerce industry; a higher per capita figure than any other market in the G20. The number of the UK’s small and medium-sized enterprises (SMEs) getting involved in selling and marketing their products and services online has risen rapidly; up from 30% in 2013 to more than two-fifths (42%) in 2017.
Stephen Woodford, chief executive of the Advertising Association, believes that the UK is now a “global online advertising powerhouse”, with the industry having the ability to “drive economic growth” and “societal change”.
“Looking ahead, the challenge for our industry working with the Government is to find the right balance of statutory and industry regulation to encourage growth, ensure fair and healthy competition, minimise societal harm and accelerate positive societal change,” added Woodford.
“With the right conditions, UK advertising can play a fundamental role in the UK’s future growth, not just within our borders but in how we do business with people worldwide.”
Despite the backdrop of Brexit and subsequent economic uncertainty, digital advertising spend across the UK is expected to see double-digit growth in 2019, according to Barclays’ Adtech Ascendancy report. Within the publication, it forecasts total digital marketing spend of more than £15 billion this year.
It’s been almost 20 years since Google launched its AdWords online advertising platform. In 2000, AdWords’ inaugural year, some £153 million of a total ad spend of £14.7 billion was spent online. However, the increasing proliferation of high-speed internet and smartphones has seen the UK population become digital natives by and large.
With more target customers active online than ever before, growing businesses are missing a trick by failing to invest in digital marketing channels. Whether it’s audio-visual content that speaks to consumers’ problems and challenges and builds brand exposure and trust, or highly targeted online advertising campaigns on major search engines or social media platforms that your target demographic uses regularly, it’s more important than ever that businesses adapt to the digital revolution.
At Unity Online, we’ve been helping businesses across East Anglia and beyond take a different digital path, recommending and implementing digital marketing campaigns that turn prospects into customers and customers into brand advocates.
Our fast-growing agency believes that even the smallest firms deserve access to the tools and services that help them sell more online. Our clients benefit from tailored online marketing strategies, designed with the sole purpose of generating leads and income.
Keen to know more about how to widen your net of target customers online? A free consultation with Unity Online can give you all the answers you need.