Internet marketing spend doubles in 3 years
Expenditure on internet marketing has more than doubled since 2005, according to a new study.
Outlined in E-consultancy’s Best Practice Guide to Managing Digital Channels, the research findings show that 23 per cent of ad budgets now go towards digital platforms, compared with 11 per cent three years ago.
The report also indicated that just 22 per cent of marketers follow a plan when conducting online advertising initiatives, while 44 per cent integrate e-commerce operations into their marketing functions.
Dr Dave Chaffey, lead author of the publication, told E-consultancy that businesses who have taken up online marketing recently may be the most likely to significantly increase their spending on the medium over the next three years.
"For later adopters, their spend could and probably should double over the next three years, particularly with the economic climate encouraging investments into more accountable, direct response digital media like paid search," he remarked.
Tim Armstrong of Google recently predicted in an interview with Canadian Business magazine that social networking will become a much bigger part of online marketing campaigns in the future.
