Spending on online marketing in Europe will double in the next five years, from around 7.5 billion euros in 2006 to more than 16 billion euros in 2012, according to a new Forrester report, “European Online Marketing Tops â‚¬16 Billion In 2012.”
Online marketing – email, and search and display advertising – will account for 18% of total media budgets in Europe in five years, according to the projections.
The reason for this shift in spending is that audience and attention are moving online, according to Forrester:
- Some 52% of Europeans are regularly online while at home, and 36% of online Europeans say that they watch less TV because they’re online.
- On average, they spend three hours per week more online than watching TV.
- Consumers’ reliance on online services is growing:
- 36% of online adults have recently downloaded music online, and 20% have downloaded games
- 35% have bid or sold in online auctions
- Trust in many types of advertising is eroding: 67% of online consumers say advertisers don’t tell the truth in ads.
- 34% of online consumers say they don’t mind ads if they relate to their interests.
- 40% of online consumers trust price-comparison sites.
- 36% of online consumers trust online product reviews from other users.
About the study: The forecast is based on data from Forrester’s Consumer Technographics surveys of more than 25,000 consumers in France, Germany, Italy, the Netherlands, Poland, Spain, Sweden, and the UK, and interviews with 24 major European marketers.