A survey commissioned by Edit Optimisation advises that most businesses and organisations should spend the majority of their marketing budgets on web-based streams in 2013.
“The importance of online marketing cannot be overestimated. In many ways it is eclipsing television and radio,” the study noted.
The poll of marketing companies, consultants, analysts and digital agencies, shows respondents believing that on average 76% of any marketing budget should be spent on web based and digital marketing. Only 17% of the budget should be allocated to traditional advertising methods such as the printed press, television and radio with the remaining money being held in reserve, to allow the marketing department the flexibility to take advantage of any new opportunities that might arise during the year.
The research goes on to point out that marketing experts agreed on the importance of web-based marketing and believe that this will increase in the future, while the effectiveness of more traditional methods, such as television and radio advertising, will decline.
This was highlighted, when the respondents were asked to allocate a hypothetical marketing budget, to promote a new product. On average they chose to spend 67% of their budget, on web-based activity, and only 33%, on traditional media advertising, with a significant number of respondents, ignoring traditional media altogether.
Given a budget of £100,000, the respondents would spend on average £17,000, on pay per click, £11,600 on online PR, £9,900 on SEO, £9,900 on social media and £9,800 on social media, while they were only prepared to spend £7,000 on print ads and £6,500 on television advertising.
“Marketing expects also recommend that businesses develop marketing strategies, that are as flexible, both financially and creatively, as possible, and that a reserve fund is built into a marketing budget, to allow the company to take advantage of any unforeseen advertising opportunities,” according to the report.
