Digital marketing represented one-quarter of the total marketing budget this year at companies with more than $500 million in annual revenue, details Gartner in a new report. The study is based on a survey of 315 executives in the US, Canada and the UK who hail from companies in the financial services, high-tech, manufacturing, media, retail and transportation and hospitality industries. Some 51% of respondents plan to increase their digital marketing budget next year. Among those, the average increase is expected to be 17%.
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By comparison, half of the respondents indicate that marketing budgets overall will increase next year, but by a more modest 10.4%. In other words, digital marketing budgets are growing at a faster rate than overall marketing budgets. That implies that the well-documented spending shift from traditional to digital will continue, particularly as two-thirds will fund digital marketing through a reinvestment of their existing budgets. Gartner does note, however, that “the line between digital and traditional marketing continues to blur.” Read the rest at MarketingCharts.