The online marketing sector in the UK is set to go from strength to strength over the next four years, it has been revealed.
According to a recent report by accountancy giants PricewaterhouseCoopers (PwC), a boom in internet advertising will ensure that Britain’s online marketing industry will be worth an estimated £17.7billion by 2015, representing a growth of around 11 per cent.
Online marketing is set to be the only sector of the UK market that will experience a double digit growth in revenue over this four-year period, as more and more companies look for effective marketing strategies that provide sufficient return on investment.
It is anticipated that the area of online marketing that will see the biggest growth is that of social networking, which will generate the biggest revenue along with classified ad spending, with search marketing also maintaining its status as a main driver of market growth.
Phil Stokes, head of entertainment and media at PwC, said: "Sophisticated social media campaigns and internet advertising are becoming part of truly multimedia campaigns for advertisers who are themselves increasingly involved in a dynamic conversation with their customers.
"The coming five years will see digital technologies progressively increase their influence across the industry, and that rapid change in technologies and consumer behaviours will continue across all segments."