Budgets are getting bigger for online advertising, says a new study conducted by Millward Brown and sponsored by Advertising.com, an online advertising and search engine marketing company.
In a survey of 300 senior-level marketing executives responsible for the marketing and media budgets for their companies, business units, or brands. Millward Brown, a marketing research firm, found that 56% of top marketers say their total marketing and media budgets increased in 2004 over 2003. 60% expect an increase in 2005.
In addition, online marketing, including search, is growing the most as a share of total budgets and is a trend marketers expect to continue.
All channels of online marketing (Web advertising, search, e-mail,) are expected to increase at a higher rate than other major media and online is seen as the most effective medium for acquiring and retaining customers and in offering efficiency, says Millward Brown.
"It`s good to see that marketers across different industries are prepared to increase their online marketing budgets and view the Internet as an attractive part of the media and marketing mix," says Edward Kim, a survey participant and interactive media manager of Unilever, a British-based consumer products manufacturer. "To escalate the process, we must work to demonstrate the proof and value of Internet marketing and the role it plays in the multi-channel mix.”