SubscribeCMOs look to increase online marketing spending
2009-08-27
With recent economic indicators showing that the economy appears to be improving, companies seem ready to increase their marketing with a new survey showing many will turn to online marketing.According to the August CMO Survey from Duke University's Fuqua School of Business and the American Marketing Association, companies anticipate moving their marketing dollars from traditional means to online marketing at an increasing pace.
The report finds that CMOs expect online marketing spending to increase 9.5 percent over the next 12 months - the biggest increase on the list. With overall marketing spending expected to only rise 1.1 percent over than same time, it would appear that the online marketing increase is at the detriment of traditional media.
And that appears to be the case as the survey finds that the CMOs expect traditional advertising spending to fall 7.9 percent over the next year - the only area that sees a drop on the list.
The fall of traditional marketing is felt primarily in the b2b world where the survey finds an anticipated 12.1 percent decline in traditional advertising for b2b products and a 2.3 percent fall for b2b service.
These findings match a survey earlier this year from BtoB magazine which found that b2b 26.1 percent of b2b companies planned to increase their online marketing this year while another 53 percent said their spending would rise in 2010.
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