Advertising spend is expecting to boom over the holiday season as advertisers gear up their affiliate campaigns this Christmas, pushing through products and targeting customers more than ever, with total ad spend predicted to hit a record £6 billion.
This boost follows on from the latest expenditure statistics from the Advertising Association, which reported a rise in the UK’s advertising spend by 3.7% to £10.8 billion during the first six months of 2017.
This increase and expected seasonal boom has been driven by the influence of digital platforms such as video and mobile, alongside heavy-hitting budgets on targeted Christmas campaigns from some of the biggest wholesale retailers, which altogether has reportedly driven spending by around 40% over the past seven years.
Digital advertising dominates
The rise of digital advertising has been apparent with online platforms including video and mobile leaping over traditional tools over the course of the year. Digital advertising accounts for 54% of all advertising spend in the first half of the year, making up £5.8 billion of the total £10.8 billion committed advertisers.
Further indication of online platforms outperforming tradition ads, the IAB UK last month reported around £700 million was spent on video advertising by advertisers, a 46% rise year-on-year while banner ads grew by just 2% to £685 million.
Mobile advertising has also been dominant with ads spent up by 38% and accounting for 57% for all display advertising. Lastly, the use of video has seen it become one of the fastest-growing ad platforms which it accounting for 35% of all display advertising spend.
“Spend on advertising is showing strong resilience, at a time of real uncertainty for UK businesses,” said Stephen Woodford, chief executive at the Advertising Association.
Highlighting the importance of such platforms, Dave Counsel, digital trading director at media agency, the7stars commented that they have now become the “most important and powerful format” in digital advertising today.
So some food for thought for advertisers this holiday season; with users consuming more online and with video and mobile becoming more accessible than before, these platforms could prove crucial for affiliate campaigns while also reaching customers more accurately and creatively.