CMOs 'to spend more than 50% of budgets on internet'

Category: Online marketing

October 3rd 08, 10:34

Online marketing spending is set to account for more than half of total advertising budgets in the next year, a new study has suggested.

Conducted by Rackspace, the report indicated that 61 per cent of chief marketing officers (CMOs) from a wide range of industries intend to spend this much on internet advertising, with expenditure on more traditional media expected to decline.

However, the majority of respondents said they believed the effectiveness of social networking campaigns in an online strategy was limited, with only 35 per cent of CMOs stating that they thought the online medium offered the best results transparency, New Media Age reports.

Furthermore, the survey showed that not enough marketers are considering website performance when rolling out new campaigns - just 48 per cent said they made sure to increase web capabilities when launching new marketing strategies.

A recent eMarketer report suggested that spending on search marketing in the UK will rise to more than £2 billion by the end of this year.

This news story was brought to you by Bluhalo, a leading UK digital agency.

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