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Online Ad Forecast Bright
09/20/2004
Marketing and media budgets are projected to grow in 2005 with online budgets growing fastest, according to Millward Brown.
Last week at the the iMedia Brand Summit in Deer Valley, UT, Millward Brown announced the results of its "Marketing & Media Snapshot: 2004." The research, sponsored by Advertising.com, which was conducted among 300 senior-level marketing executives across a wide range of industries, covers trends in marketing and media decision-making, perceptions about media and marketing channel performance, media and marketing spending patterns, and the integration of digital and online media into the marketing mix.
At first glance, the news was good.
What's more, the marketers with the largest budgets, over $400 million, are the ones who are most optimistic about budget increases in 2005.
As for the specific outlook for online ad revenues, online marketing is growing the most as a share of total budgets — and marketers expect the trend to continue. Increases are expected to be across the board. All channels of online marketing — banner advertising, search, e-mail, promotion — are tapped to increase at higher rates than other major media.
Furthermore, compared to other media, the executives see online as the most effective medium for acquiring and retaining customers and in offering efficiency.
So what's not to like?
Overall, the percentage of marketers who plan to raise total online advertising expenditures in 2005 fell — over three percentage points to 54.1%.
The falloff for 2005 is reflected in almost all media, however, and is not altogether unexpected. Following 2004, when extra boosts in ad spending came from the Summer Olympics and US presidential campaign, which attracted millions in incremental ad spending, network TV will experience the biggest slump, with the amount of marketers planning to raise ad budgets dropping five percentage to only 30.8%.
Source of Article: eMarketer
Date of Article: 9/17/04