Online ad budgets to grow in 2010, says EIAA

Online advertising is set to grow by 7.6% year on year in 2010 as 94% of marketers increase spend, according to the European Interactive Advertising Association (EIAA).

The EIAA Marketer’s Internet Ad Barometer survey of European marketing executives found 83% have increased online ad spend this year and plan further rises.

By 2011, a further 93% year-on-year increase in online spend is expected.

The targeting opportunities and value for money online advertising offers were named as key drivers.

The EIAA also found one-third of businesses are already adding mobile advertising to their overall strategies, with 97% expecting further increases in spend on the channel over the next two years.

The increased online spend is being diverted mainly from direct marketing budgets, according to 30% of those polled. Over one-third of marketers are shifting TV ad spend to digital in line with increasing online video ad opportunities.

Alison Fennah, executive director of the EIAA, said, “Online advertising is continuing to thrive and grow due to its flexibility, accountability and ability to offer brands a robust return on investment while the recession has an impact on overall marketing budgets.”

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