4 in 10 Global Marketers Reallocating Budgets to Digital
by MarketingCharts staff
55% of marketers from around the world plan to increase their digital marketing budgets this year, according to results from a Society of Digital Agencies (SoDA) survey conducted by Econsultancy. Notably, the majority of those marketers (39% overall) plan to increase their digital budgets without increasing overall marketing spend, effectively reallocating existing budgets into digital channels. This continues a trend noted in last year’s survey.
The results come on the heels of a survey showing a similar shift in spend in the US.
Many marketers responding to the latest SoDA survey will be making those increased investments from a position of confidence. According to the survey, 60% describe the digital marketing sophistication of their organizations as “very” (22%) or “somewhat” sophisticated (34%), while another 26% describe themselves as about average.
Asked where they are on the learning curve of major technological shifts, roughly 4 in 10 rated themselves as “ahead of the curve” or “state of the art” in: responsive design; connecting digital and real-world experiences with their brand; mobile usability/experience; multi-channel marketing attribution (including digital); and use of data to drive digital marketing effectiveness. Interestingly, marketers were more confident in their understanding of the role and impact of social media, with a slight majority saying they are above-average in this regard.
About the Data: SoDA’s 2013 Digital Outlook Marketing Survey had 814 respondents. Marketers represented approximately one-third of all respondents with a fairly even split between companies who primarily market products (33%), services (31%), and a mix (36%). Key markets for respondents are North America (50%), Europe (22%) and APAC (12%).