In the US, total marketing budgets account for an average 10.4% of revenues, a study has found, of which an average of 2.5% of revenues are spent on digital marketing.
For 2013, marketers are expecting to increase overall marketing budgets by an average of 6%, Gartner found. Although a range of sectors will be increasing advertising spending, increases are expected to be largest in media and retail, and smallest in “high-tech” and manufacturing industries.
According to Gartner, much of that increase in digital spending will come from marketers reinvesting cost savings. When asked how they were funding their digital marketing programs, 41% answered that they were saving money by replacing traditional tactics with digital tactics, and that this savings was funding further investment. Another 28% responded that they decreased traditional marketing budgets to free up funds for digital.
We’re curious as to how the savings are being reinvested. Our recommendation: reinvest in the renovation of marketing staff towards marketing technology training and hiring.
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See on www.emarketer.com