NEWS: Digital marketing spend reaches record high
Digital marketing spend has reached a record high, with 77 per cent of companies planning on increasing their budgets during 2015, a new report by Econsultancy and Oracle Marketing Cloud has revealed.
The researched showed that eight per cent more companies are planning to ramp up their digital marketing investment than last year.
Seventy-nine per cent of the 600 UK digital marketers and ecommerce professionals surveyed said they were planning to increase spending on digital marketing technology.
Meanwhile, 39 per cent of overall digital marketing budget is allocated to ‘paid-for media’, 35 per cent to ‘owned media’ and 26 per cent to ‘earned media’. Yet, more companies are increasing their earned and owned media budgets this year (71 per cent and 67 per cent respectively) than they are for paid media (61 per cent).
Just under three-quarters (73 per cent) of brands are planning on increasing their content marketing budget this year, taking up 10 per cent of the overall digital spend.
Sylvia Jensen, senior director EMEA marketing, Oracle Marketing Cloud, commented: “This is an exciting time to work in marketing, where budgets and boardroom support are rising steadily, driven by the proven ROI digital marketing technologies can offer, as well as the new challenges of delivering a connected customer experience. The ability to attract and retain customers with a joined-up multi-channel approach is critical for marketers in today’s digital age.”