Every century or so, the world stands witness to a revolutionary change. In our times, we saw the world turn digital. And as businesses adapt to the new world, countries race to facilitate the new change because digital marketing opens up new avenues for businesses.
A platform more economical than traditional processes, the world of digital opens the world to your access. There is more room for creativity, to express ideas, share and collaborate and find just the right audience. Hence, it comes as of no surprise that the digital revolution paved ways for numerous small businesses and start-ups to hit the ground.
In this era of digital revolution, the Great Britain, much like the previous revolutions, leads the transformation. Recent researches show UK boasting the largest digital marketing industry in Europe and going strong.
Stephen Woodford, chief executive of the Advertising Association, believes that the UK is now a “global online advertising powerhouse”, with the industry having the ability to “drive economic growth” and “societal change”.
So whether you are a digital marketer, a digital world enthusiast or just a patriotic British, we have compiled for you a list of interesting, informative and latest facts about the digital marketing industry of the UK
The United Kingdom ranks fourth among in the list of world’s largest advertising markets, and first among markets in Europe.
We may have already mentioned that, but we thought we’d bring it up again.
A quarter of European stories with the highest investment in tech in 2019 are in the UK, namely Manchester, London, Bristol, Oxford and Cambridge, with Manchester leading the race ( 277% increase between 2018 and 2019)
Digital transformation demands the use of modern tech, high speed internet and the investment in the infrastructure to support the change. It would seem that the British aren’t shying away from betting their money on digital technology. Fintech, Britain’s pride and honor, gets away with highest investment in tech. These investments mean:
UK hosts 77 companies valued at $1bn by the end of 2019. In addition, 95 UK companies were valued at between $250-$800m in the UK. This is a 27% increase from 2018.
Thanks to the generous investments, the ambition of people to lead the change and plenty of hardwork and dedication,
Digital tech sector in the UK grew six times faster than other industries
Not only is the industry large in size, but based on past trends and future projections, demonstrates promising growth. As of last year, the sector experienced eight consecutive years of growth. If you are a student confused on choosing a career, we’d recommend stepping into digital marketing. If you are an adult looking to switch careers, we’d bet on digital marketing.
Digital tech contributes £149 billion to the UK economy, accounts for 9% of the national workforce.
Not only is the sector increasingly contributing to the country’s GDP, but also employs a considerable workforce under its umbrella.
Customers lead the change into digital
A recent study of about 2000 British grownups to discover:
“Six out of ten smart speaker owners (60%) have used them to make a purchase in the past year. In fact, nearly a quarter (22%) said they have done so within the past week”.
The increasing proliferation and more accessibility of high-speed internet and smartphones have resulted in large sections of the UK population become digital natives by and large. As online shopping and the usage of smart phones increase, businesses have all the more incentive to go digital in an attempt to get closer to their customers.
Digital marketing has now surpassed television, radio, outdoor media, cinema, and printed press combined.
Companies are increasingly allocated larger proportions of their marketing budgets to digital forums. The report by advertising think-tank, Credos and Enders Analysis discovered that UK advertisers will spend almost two-thirds (62%) of their budgets online by 2020. Why is this so?
Because unlike traditional marketing methods such as TV and print, digital marketing is more data driven, faster (literally allows you to post an ad with a click), more targeted, more economical and generates better conversions and results. In addition, digital marketing is more customer-centric and allows you a better understanding of your audience, gives more opportunities to engage with them and sprinkle in just the touch of customization.
If you are an existing marketer… well what are you waiting for? You should have gone digital like last year.
In digital marketing, content marketing is believed to be the most popular technique.
In 2017, a survey shows that as much as 38% of marketers in UK alone are reported to have been using this digital marketing technique and is believed to be most widely used in 2018 according to worldwide marketers. This is an indication that businesses and customers alike are moving towards making more well-informed shopping decisions and purchases.
For more detailed analysis into the digital marketing industry of the UK, read UK tech for a changing world – Tech Nation Report 2020 at Click Here
As the world indulges in the digital revolutions and consumers grow addicted to consuming the digital world, it is clear that businesses need to jump the digital bandwagon in order to survive. For an ultimate guide to starting your own digital marketing start-up, read the article here.