A 2008 McKinsey & Company survey found that 55% of global marketing execs planned to cut spending on traditional media in order to fund increased online efforts.
The move to online has become steady. Laura Desmond, chief executive of Starcom MediaVest, the media planning arm of Publicis, says the industry is heading into a “50-50 world” in which half of revenues go to digital and interactive campaigns.
However, in tough times, here's a snapshot of planned changes within the online marketing budget:
Paid search is still going strong. While over 90% of marketers polled by eMetrics said they would increase or maintain their spend on e-mail advertising, more than 83% said the same about paid search.
The largest decreases were planned for social media and general online advertising, but even those paled in comparison to overall online spending increases.
In addition, many marketers are realizing the need for increased digital intelligence. One-quarter of the respondents said they planned on increasing their Web analytics budgets, and over 60% planned to maintain spending. This is key...the beauty of digital are the results, and strategically digging into it, to get insights and learnings needed is where the money is.
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