ExactTarget just released a study tracking marketing budgeting trends. Not surprisingly, results show digital marketing budgets will increase by 17% in 2010, and will account for 24% of overall marketing budgets. What is surprising about the results? 70% of the companies surveyed plan to increase their budgets for social media marketing(e.g. Facebook, Twitter). What makes this number interesting, is that it shows a trend of marketers moving away from focusing solely on channels that produce high ROI towards channels that focus more on branding. Marketers are beginning to understand that without a positive brand reputation, funneling dollars into channels focusing on ROI won’t produce postive results.
Below are some other highlights of the survey:
28% of marketers are shifting at least some of their overall marketing budgets from traditional to digital channels.
Marketers who focus on “brand reputation” as a measure of marketing effectiveness are most likely to shift their budgets from traditional to digital channels.
Only 17% of companies surveyed are increasing their print media budgets, compared to 41% who are decreasing spending.
Take a look at this video to hear more thoughts on the shift to digital channels:
Do you agree with the results? Where are your marketing dollars going this year?
Kyle Bumgardner is an active member of the interactive marketing community and has earned a reputation as a marketing expert for medium and large companies. He is co-founder of Charlotte Interactive Marketing Association and serves on that organization’s board of directors. Kyle has been called upon to speak at American Marketing Association (AMA), Charlotte Chamber and Engage Charlotte events, Ben Craig Center business seminars, WombleTech technology seminars and other regional online marketing and social media events. He is a regular contributor to Marketer Insight and has served as guest blogger for online marketing conferences including Search Engine Strategies (SES).
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