According to new data from IAB Ireland and PriceWaterhouse Coopers (PwC), the growth of internet advertising surpassed predictions last year and grew 13.5 per cent to hit €110 million.

IAB Ireland, the trade body for online advertising, revealed that all online advertising formats experienced growth.

From Irishtimes.com:

Suzanne McElligott, chief executive of IAB Ireland, described the growth as “fantastic” but she said there were “real reasons for it”.

These included an increase in the use of broadband, with 2.1 million connections according to the latest ComReg data, and people spending more time online; on average 19.1 hours per week last year according to research firm Red C.

Ms McElligott also cited Red C research that shows people spend an average of 2 hours 49 minutes watching television every day and 2 hours 44 minutes online.

The car industry became the biggest spender last year, accounting for 21 per cent of spend.

Recruitment and property, previously the largest spending category, was 17 per cent of the total.

The next three largest sectors were fast-moving consumer goods, telecommunications and financial services.

Display ads were particularly strong, increasing share from 26.6 per cent of the total in 2009 to 31 per cent last year, according to IAB.

Tags: internet advertising, online advertising

According to experts, the success of online marketing is not limited or hampered by size of the market and this form of marketing can pose a serious challenge to the traditional advertising forms on any given day.

Market research company Cimigo’s online director Lukas Mira recently remarked, ““The Internet plays a significant role in Vietnamese lives both personally and in business, and it is becoming an increasingly important channel for advertisers to reach their target audience,”.

From Thanhniennews.com:

With 23 million users, Vietnam is the fastest Internet growing country in Asia, according to Cimigo. The company said the ratio of Vietnamese Internet users grew by 100 times in 2000-2009, while second-placed China grew 15 times.

With the rapid growth, Vietnam’s online advertising market would double its size in the next five years, said Cimigo managing director Richard Burrage.

Nguyen Phuong Dung, director of Malaysia-based Innity in Vietnam, said businesses were paying more attention to digital marketing through cell phones, websites and online newspapers than traditional channels like TV and the print media.

Dung said the online marketing company has many clients including online ads in their marketing campaigns. One of the clients was Samsung. The Korean electronics giant set up a fixed budget for online marketing a year ago. Earlier the giant spent money on online ads only if it had a surplus left over from its marketing budget for other traditional channels.

It was estimated by Dung that the online advertising market would account for about 10-20 percent of Vietnam’s total advertising revenue in the next ten years.

Tags: marketing, online advertising, online marketing, traditional advertising