2009 the Year of Online Brand Marketing
The UK spent €3500 in online advertising during 2007, according to a recent study by PricewaterhouseCoorpers and the World Advertising Research Centre (WARC). Online advertising grew 38% during 2007, taking a market share of 15.3% of all UK ad spend. Online advertising is the biggest advertising medium save Television. The study shows that online advertising should top TV advertising during 2009.
All About Brand Marketing
Advertising managers have tested the online medium with harsh conversion campaigns, where campaigns are measured in terms of new customers subscriptions or sales. The next phase is to start using the medium to build brand awareness.
Formerly the preserve of Television, brand marketing is increasingly resorting to rich media and online video to reach target groups. According to the head of the IAB
Itís clear marketing directors now recognise the value of online to drive their business, and more and more are using rich media and video to build their brands, just as they do on TV, Guy Phillipson, Chief Executive, IAB
Catch up TV - Launch of services such as BBC iPlayer and Channel 4ís 4oD are breaking the barrier between video entertainment and the internet as a communications or shopping tool. We are all consuming more video online, rather than Television.
Though brand based advertising, CPM advertising is hardly present on video sites at present. The premium channels such as MySpace Music and MySpace Film are leading the way, selling at a higher CPM rate. The IAB expects to see a greater contribution to online spend in 2008.
In the next few years, User Generated Content sites are set for the highest advertising growth rates
[Disclosure: We are invested in video USG site, tu.tv]