UK digital advertising spending tops 7.4 billion euros
Our growing dependence on technology is helping to fuel a financial boom in at least one sector of the economy: Digital Advertising.
A recent report compiled by Interactive Advertising Bureau Europe (IAB Europe) and IHS, looks at the changes in digital ad spending from 2012 to 2013. They found that the UK leads Europe with over €7.4 billion in revenue in 2013.
In an article discussing the study results, eMarketer published its predictions for ad spending through 2018. They predict the UK will share over one third of the €32 billion expected to be spent in 2014. If the eMarketer predictions are correct, the UK will continue to dominate the market with more than double the revenues of the next closest country, Germany, by 2018.
Of particular interest to us in the IAB report was that mobile advertising (all kinds) had the fastest growth. The mobile market sector rose over 128% in a year. It now makes up 11.5% of the total digital spending. The fact that companies are spending that much on advertising is confirmation of how vital our mobiles have become.
The press release on the study didn’t break out the specifics of country spending in the mobile market. But estimates from Ofcom show approximately 92% of the UK population has a mobile phone. I’d feel comfortable speculating the UK is leading in mobile spending as well.
So advertisers are betting that mobile is increasingly the method through which they can reach their audience. We’re excited by all this data and what it means for our customers. Even with all the digital channels available today, SMS is the only way to reach your target market in such a personal fashion. And it’s easier than ever to reach out to new and existing customers with a SMS marketing campaign.
Which channel of digital marketing do you use most? If it isn’t targeting mobile, do you have plans to add mobile into your mix?
SMS messaging offers some of the highest click through rates in mobile marketing. But did you know it could be even better? See how one retailer improved their click rates by offering their customers different options in their messages. Then see how you can do the same.
SMS coupons have redemption rates ten times email coupons. Averages run around 30%, but they could be as high as 45% for personalised messages. Even with those great numbers, retailers can still lose money to fraud. Find out how make sure customers only redeem your coupon once.
As SMS boasts a 95% open rate, it makes sense to ensure you can utilise this channel with your entire target audience. Read our tips on building SMS recipient lists.
As an entrepreneur, it is notoriously difficult to get your message out there. It's even harder to get seen and heard in a meaningful way that doesn't offend people. Email marketing has been the darling of entrepreneurs for years, but it's time for something new. Something that supersedes the email and circumvents the spam folder.
It’s been said that to be successful at something, you need to find someone that’s already done what you want to do, then emulate them. You don’t need to create or rewrite the rulebook every time. This is true of marketing too. While it’s a creative field, there are tried and true examples of what works. This is why case studies are so important to helping you understand how something like SMS marketing can work for you.
In sit down restaurants, what is the one feature every patron will look at? The table. Think about it. They need to look down to pick up utensils, put their glass back down, find their napkin, or to find a distraction for those awkward moments with your fellow diners. What if you could turn that time into a SMS marketing opportunity?
One key to successful marketing is to know when you’re doing it right. And when you’re doing it wrong. The great thing about SMS marketing is you can get that information pretty quickly. But to understand how your messages are performing, you need to do a little maths. Thankfully, it’s all rather simple once you see it.
The drive to earn and retain consumer loyalty is big business in the UK. Increasingly, companies are grasping the important role SMS text messaging can play in this. Customers’ mobile phone numbers are gold dust. The most forward-looking companies are developing systems to encourage customers to opt-in. Then, they are structuring SMS campaigns to build loyalty and reap maximum commercial advantage from it.