Online ad spend to hit ?35m in Ireland
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Online marketing expenditure in Ireland is in line to hit €35 million (£23.8 million) in 2007, according to a new study.
Research firm iReach has predicted that the continued uptake of broadband in the country will drive internet marketers to invest increased amounts of their budget into online channels.
The company pointed to the UK market as an example of how this can work. Internet marketing spending grew by 41.2 per cent to £2.02 billion here last year, overtaking newspaper advertising and rising to more than half that spent on TV ads.
"The upward momentum of the internet reflects a new era in marketing communication and consumer behaviour," Sinead Daly, analyst with iReach, remarked.
"The continued broadband growth in Ireland as well as the explosion of user-generated content and social networking has been a driving force of these changes."
This month, a survey conducted by Internet Retailer revealed that search engine marketing is responsible for more than 50 per cent of sales for 30.2 per cent of US retailers.
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