About six in ten chief marketing officers (CMOs) from a range of sectors intend to spend more than half of their total budgets on internet marketing in the next 12 months, a new survey has found.

This is likely to result in a decline in expenditure on more traditional channels of marketing, the poll by Rackspace indicated.

Despite the findings, more than nine in ten respondents said they believed social media marketing was not as effective as other forms of internet marketing, New Media Age reported.

Furthermore, four in ten CMOs reported problems with technology when undertaking marketing campaigns, while more than half said they did not optimise websites to cope with the extra demand a new campaign would be likely to generate ahead of launch.

Spending on search advertising has been predicted to rise by a number of recent reports, with one such publication by eMarketer indicating that expenditure on the medium will reach more than £2 billion this year.

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