New research conducted by Group M has forecasted that in 2015, the UK will be the first country where over 50% of total advertising spend will be allocated to digital and online media. Why? Because we are a nation obsessed with social media, online shopping and all things techy! So much so, that digital ad spend in the UK is forecasted to rise by 12.7% to over £8 billion making the UK the first country to spend more on digital advertising compared to any other form of advertising.
Adam Smith, Futures Director at Group M made the following statement:
“The British are the most enthusiastic online shoppers in the world in terms of spend per head. And there has always been a high level of credit and debit card use [online]. On top of that Britons have rapidly embraced smartphone and tablet use, all of which has fuelled where advertisers spend their money.”
However it’s not just the UK who will be switching their ad budgets to digital, as the subsequent countries are set to follow; Sweden (where 47% of total advertising spend will be digital), Denmark (43%), Australia (42%) and Norway (40%).
Where social fits in
When it comes to advertising on social, consumer engagement doesn’t end when the ad does. Social media provides the two-way communication that consumers seek – a platform to share information, pictures or video clips with their network, a place where customers become brand advocates.
Will this prompt businesses to re-focus their online and social paid media strategies for 2015? We’ll just have to wait and see!