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Online Marketing Expected to Grow in 2010
Kowloon Johnson
The advertising world is going back to basics with is buoying the online marketing industry. According to IBSWorld, advertisers will most likely go back to "emphasising value" to its core customers in 2010.
According to IBISWorld General Manager Robert Bryant, the current economic situation is affecting advertising. He says that there is a ''distinct dive in campaigns promoting luxury brands and big ticket items.'' However, consumer goods sectors that are more tied in with the necessities continue to grow. For instance, advertising for supermarkets grew an estimated 14.7 percent to $680 million in 2008-2009, this is set to expand again next year by 13.8 percent to $774 million.
In general, marketing managers are under pressure to work with a limited budget. "We're now in a situation where sales people and marketing managers and executives have to do much more with much less,'' said IBISWorld senior analyst Raghu Rajakumar.
Rajakumar said online advertising is seen as a low-cost alternative that would will rise in use over next five to ten years. "Every couple of years there is a major change in the online landscape.'' Online advertising's share is 12.4 percent of the total market in the 2008-09 year. IBISWorld expects this to jump to 14.3 percent in 2009-10.
Meanwhile, other advertising media are expected to maintain plateau performance, if not show a decline. Newspaper and TV ads have remained essentially flat at around 29 percent over the same period. Magazine, radio and outdoor advertising is expected to slightly decline from 28.6 percent in 2008 to 2009 to 27.8 percent in 2009 to 2010.
Source: http://classifieds.blogs.ozfreeonline.com/ozfree-classifieds-news-section/online-marketing-expected-to-grow-in-2010
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7/21/2009
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