Published 13th January, 2014
Marketing budgets are set to focus on digital, according to Forrester Research.
Two thirds of senior marketing executives surveyed by the digital consultancy stated their traditional advertising spend would be reduced to increase funding digital alternatives and, overall, would be spread more thinly across a range of channels.
Clearly, 2013 was a positive year for marketers, with 77% of respondents claiming they had exceed their annual goals in 2013. Their reported budget spend was spread across a multiple channels but, despite the apparent success of campaigns, many organisations put less than 5% of sales revenue back into marketing.
According to Forrester, the budget spread for 2013 was:
- an average of 20% on traditional advertising
- 15% on consumer response and direct marketing
- 12% on digital advertising and marketing
- 6% on data analytics
- 6% on content marketing