As of August this year 20%, or £1 in every £5 spent was online rather than on the high street. We all knew this was coming but this figure is startling as only 5 years ago it was £1 in £10 and if you have not prepared for it that is a huge fall in potential footfall for your business.
Of that 20% nearly half of it goes to Amazon (according to E-Marketer)
With these statistics it is not surprising that the average firm dedicates up to 42% (Webstrategies.com) of their advertising budget on online activities as they can see where things are going. This is a mix of Pay Per Click (PPC) advertising, social media adverting and Site Engine Optimisation (SEO.)
That is a lot of businesses spending an awful lot chasing just 10% of the market (once you remove Amazon’s share), so it is best to be wise with your spending and not go into it blind. It is very easy to set up a campaign targeting every keyword under the sun and with poorly set budget that will be eaten up before breakfast!
I still believe that the best strategy is a mix of traditional and digital marketing to compliment your physical presence as well as your online presence. That way you are maximising your budget and not getting sucked into an arms race with all the rest.
To find out how we can help you compliment your traditional marketing efforts get in touch today!