Bizwiki Blog

Archive for May, 2014

The Internet Continues to Transform the Way we do Business

The Internet is continuing to change the way business is done and has truly transformed the nature of business in the country, giving even local companies the chance of a global presence on a level playing-field. Sites like Bizwiki can be a useful way for companies and non-profit organisations to provide information to local customers and obtain some free advertising, but can also provide a platform for companies to present themselves to a far wider audience.

The appearance of the Internet has brought about some wide-ranging changes to business practices and to the way consumers go about making their purchases. The scope of these changes is incredibly varied, so in this post we have summarised the key ways in which the Internet continues to transform business and the economy in the UK.

Opening up the possibility to participate in a truly global economy

According to historians, 5,000 years ago, three quarters of all trade and commerce took place within a 12-mile radius. As trains, steamships, and planes began to be used as part of the world’s distribution network, the possibility of reaching consumers on the other side of the world became more real.

However, the true global global commerce revolution did not appear until Internet technologies were applied to business. The development of e-commerce allows UK businesses to reach a potential customer base of millions of people, regardless of their size or location. In fact, e-commerce is currently Europe’s fastest-growing retail sub-sector, with the UK online market dominating the continent’s online sales. In 2013, online sales in the UK amounted to £38.8 billion, which represent a 16.8 per cent increase over the previous year.

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Changes to how SME’s Advertise Online in the UK

Advertising is a fundamental aspect of business management, as no company would survive without some form of advertising, regardless of its size or location. The digital era we live in has brought about a number of significant changes to the world of corporate advertising, as marketers are increasingly moving away from traditional advertising methods and give preference to digital options. In this article we take a detailed look at how UK-based small and medium-sized companies advertise online and at the digital strategies that they use to sell their products and services. 

SMEs and online advertising: the latest general trends

It is evident that when it comes to online advertising, British companies have come a long way over the past few years. A 2011 study carried out by the Internet Advertising Bureau found that only three years ago, companies devoted £1 out of every £4 to their online advertising budget. Today, this figure is close to 30 per cent of the average advertising budget. The most recent data show that there are still many small and medium-sized companies that spend considerably less than 25 per cent of their marketing budget on online advertising, but far from being a negative point, this figure itself is a good indicator of how quickly digital advertising is taking over traditional advertising methods.

The unstoppable rise of mobile advertising

PricewaterhouseCoopers and the Internet Advertising Bureau have published the latest research findings on how small and medium-sized enterprises in the UK are using online advertising. The report dates from April 2014 and examines the strategies used by British companies during the previous year. One of the most significant trends evident in this report involves the unstoppable rise of mobile advertising, as expenditure in this area has grown by 50 per cent and now exceeds the £1 billion mark. The report also indicates that mobile advertising currently accounts for more than 35 per cent of all digital and social media advertising. The most remarkable growth has been experienced in the tablet-optimised advertising sub-sector, which grew by an astonishing 400 per cent during 2013. British SMEs went from spending £6.8 million in tablet advertising during 2012 to investing nearly £35 million in 2013.

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