Traditional media budgets tumble as firms target online marketing services

Traditional media budgets tumble as firms target online marketing services

Digital marketing spend is set to rise by 17 per cent in 2010 as companies switch the focus of their budgets away from TV, radio and print ads, a new report has found.

According to the joint research by Econsultancy and ExactTarget, two-thirds of marketing professionals said they intend to increase their investment in areas such as social media, mobile ads and search engine marketing.

Some 64 per cent of respondents plan to up their budgets for search engine optimisation this year, while 51 per cent will spend more on pay per click services.

Another 65 per cent intend to increase their use of social media for their websites, such as blogs or customer reviews.

Econsultancy research director Linus Gregoriadis said: "The research shows a healthy outlook for the digital marketing industry, with the majority of responding companies increasing their budgets for most digital channels."

According to the Bellwether Report from the Institute of Practitioners in Advertising and BDO Stoy Hayward, growing confidence about the state of the economy is set to drive an increase in spending on internet marketing services this year.

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