55% of marketers from around the world plan to increase their digital marketing budgets this year, according to results from a Society of Digital Agencies (SoDA) survey conducted by Econsultancy. Notably, the majority of those marketers (39% overall) plan to increase their digital budgets without increasing overall marketing spend, effectively reallocating existing budgets into digital channels. This continues a trend noted in last year’s survey. The results come on the heels of a survey showing a similar shift in spend in the US.
Many marketers responding to the latest SoDA survey will be making those increased investments from a position of confidence. According to the survey, 60% describe the digital marketing sophistication of their organizations as “very” (22%) or “somewhat” sophisticated (34%), while another 26% describe themselves as about average. Read the rest at MarketingCharts.