CMOs remain enthusiastic about online marketing, projecting an 11.5% increase in spending in this area over the next 12 months, although this represents a 10.2% decline from their 12.8% growth forecast from 6 months ago, according to Duke University’s Fuqua School of Business, which released its latest CMO Survey in August 2012. Even so, the latest online marketing spending outlook compares favorably with CMOs’ forecast for traditional media advertising spend, which fell to -1.9%, from -0.8% in February.
This contrast has shown up in various research of late. In June, survey results from RSW/US found 2 in 3 marketers claiming to have moved at least 30% of their budgets from traditional to digital media in the past 3 years. Earlier, in March, a study from DataXu indicated that among CMOs who had witnessed a shift in budgets in their organization over the past year, 55% had seen a shift of at least 25% of their marketing budgets from traditional advertising to digital media. 41% projected a shift of at least that amount in the next year. Read the rest at MarketingCharts.