Budgets For Digital Marketing On The Rise In 2012
Posted by Patrick Murphy on Thu, Feb 02, 2012
The trend continues: this year, digital marketing will become even more of a priority for the majority of companies. Around two-thirds, or 68% of client-side respondents to a recent eConsultancy survey have reported increases in their digital budgets for the next 12 months. In even better news for agencies, those agencies surveyed reported that their clients are also seeking o increase their digital marketing budgets in 2012 (75%).
To put this into context, just under half of companies that were surveyed intend to increase their overall marketing budgets and only 16% of them plan to increase their traditional marketing budgets (that is, offline activity). The average expected increase of digital budgets is a whopping 28%, a lot higher than the average expected increase of 24% for offline budgets.
Some other findings in the report include:
- For companies who will be increasing their digital marketing budgets, 79% of them will increase by more than 10%
- On average, companies are spending 36% of their total marketing budgets on digital: this is down from 37% in 2011
- More than half of the companies surveyed (56%) will derive at least 20% of their total revenues from the digital marketing spend.
As we’ve said before, it’s good news for those working in the digital marketing space but it’s also refreshing to see so many brands moving their budgets to the digital marketing arena. It means that companies are finally wising up to the benefits of digital marketing strategy, like reduced costs, increased leads and broader reach.
The digital marketing sector can only be expected to go from strength to strength in the coming years. As print mediums lose popularity, online mediums increase their market appeal. While there will always be a place for traditional marketing in the strategy, it’s important for organizations to recognize the potential for partnership between traditional and digital marketing.
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