Online marketing spending predicted to rise
Global spending on online marketing is expected to rise this year as businesses around the world take advantage of the advertising power of the web.
According to figures from IDC, some $65.2 billion (£32.9 billion) will be spent worldwide on online marketing in 2008, representing almost ten per cent of marketing spend across all medias.
John Gantz, chief research director at IDC, said that compared to more traditional types of advertising, internet marketing is growing at a "phenomenal" rate.
Indeed, IDC expects online marketing spending to have reached $106.6 billion worldwide by 2011, with keyword ads remaining the dominant form of web advertising.
"Marketers already recognise that online advertising must be incorporated into any comprehensive ad strategy," said Mr Gantz.
Separate research from IDC shows that this year almost a quarter of the world’s population will use the internet regularly, highlighting the potential reach of online marketing for firms that choose to utilise it.
