Summary of the new IAB and online marketing in Ireland
Many budget holders and marketers remain wary of online advertising, in large because there are no definitive figures showing the size of the market.
This is about to change. The Internet Advertising Bureau (IAB) is being set up in Dublin.
The IAB aims to be an authoritative and objective source for all online advertising issues while promoting best practice in the digital advertising industry.
The IAB is well established in more mature digital markets like the US and the UK. It is an authoritative body representing the interests of advertisers, agencies and publishers.
The first thing the IAB will do in Ireland is publish a report (carried out by Price Waterhouse Coopers). The report will look at digital in the context of the whole market and look at spends on search and display ads. This will give budget holders more confidence when they see there is a significant spend on digital marketing.
Many marketers will argue that digital marketing is now mainstream and is no longer ‘new media’. Current estimates put the overall digital sector at 9.6% of the overall advertising market.
The IAB/PWC report will go into much more detail and afford brand managers and advertisers more comfort when they are investing online.
Last year the top ten digital advertising markets in Europe account for 93% of the total value of the market. Most of these countries experienced year-on-year growth rates under 20%.
The Netherlands, Europe’s early adopter of online advertising grew only 9% in 2008. Other mature online markets saw similar trends, with growth slowing in France at 18.5%; the UK, Germany and Sweden at 19% and Italy at 20%. Belgium grew 21% and Denmark and Norway hit a 22% growth rate. Spain by comparison saw relatively strong growth at 26%.
Search remains the leading format in Europe. It was worth over €5.6bn in ‘08 and accounted for 43% of online ad spend in the 19 countries measured. Search had the strongest year-on-year growth rate of 26%.
Classifieds were next in terms of year-on-year growth rates at 17.4%. Classifieds enjoy 26% share of overall ad spend and a market value of €3.8bn.
To see what the IAB has done in other markets and what it will bring to the Irish market go to www.iab.net.
Stephen Conmy
www.digitaltimes.ie
Tags: Digital Times, Ireland, Online Marketing
1.
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Thursday 21st January 2010, 5:42 pm
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Tuesday 26th January 2010, 7:22 am
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Thursday 11th March 2010, 7:37 am