Many Online Marketers Looking to Increase Online Ad Budgets
Offline marketing is suffering in ways such as reduced TV, print and direct marketing budgets. 40% report that their online increase came from decreasing their offline budgets for print, 39% said it came from their TV budget and 32% from their direct marketing budgets.
Studies show that more and more marketers are dropping traditional offline marketing methods to focus more on Internet advertising techniques and it's paying off. 38% now regard online advertising as essential which is up from the 17% who said that in 2006.
Over three quarters, 77% said they found online advertising to have a positive impact on the perception of their brand and in brand awareness.
80% also predicted their search spend to increase in the next two years while 59% will invest more funding into display. Just as marketers of the past had to look for the best methods in media and print advertising, now online marketers have to do the same online.
"This research shows that while other forms of media are suffering from slowing spend, online continues to take a growing proportion of advertising budgets as brands increasingly recognise its impact, value and potential ROI," says Alison Fennah, executive director of the EIAA.
This could mean bigger growths for the future in online and Internet advertising and more competition for those already marketing online.