A growth in marketers’ investments in social media, mobile marketing, email marketing and search will fuel a 17 percent surge in digital marketing spending this year.
This finding was featured in a recently published joint research report based on a survey of more than 1,000 marketers conducted by advisory firm Econsultancy and digital marketing provider ExactTarget.
The report, Marketing Budgets 2010: Effectiveness, Measurement and Allocation, said social media is the fastest growing digital marketing channel. More than 70 percent of respondents said they're increasing their budgets for off-site social media marketing on social networking sites such as Facebook and Twitter. What's more, 65 percent of respondents said they're planning to increase their budgets for on-site social media, such as blogs or ratings and reviews.
Additional findings from the report include the following:
- 28 percent of marketers are shifting their budgets from traditional to digital channels;
- two-thirds of marketers are planning to increase investments in social media, even though less than one-fifth can effectively measure social media's ROI;
- 64 percent of companies plan to increase budgets in search engine optimization;
- 56 percent plan to increase budgets for mobile marketing;
- 54 percent plan to increase budgets for email marketing;
- 51 percent plan to increase budgets for paid search;
- 42 percent plan to keep budgets the same as 2009, and 13 percent said they'll decrease their overall marketing budgets; and
- 41 percent plan to decrease spending on print and radio marketing in 2010.