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Rescooped by Gaurav Pandey from The Marketing Technology Alert
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Digital Marketing Is Underfunded - Gartner

Digital Marketing Is Underfunded - Gartner | Small Business Marketing | Scoop.it

Synopsis...

 

Digital marketing budgets averaged  2.5% of company revenue in 2012, growing 9% in 2013 — and that’s still too low.  At a time when 2012 marketing operating budgets were over 10% of revenue, spending only 25% on digital marketing implies some companies aren’t taking the shift seriously enough.

Let’s look at just 3 areas of digital marketing spending.

Digital/on-line advertising makes up the largest part of the digital marketing budget, but is a small percent of total advertising.Corporate website also makes up a large part of the digital marketing budget…It used to be enough to update websites a few times a year, but now has become a continuous process and one you simply can’t underfund. Digital commerce experience is the top priority for increased digital marketing spending in 2013…Not fully mature yet, but all organizations should be exploring and piloting.  
Via iNeoMarketing
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iNeoMarketing's curator insight, March 21, 2013 7:00 AM

Gartner offers free research that was used for this post:  “Key Findings from U.S. Digital Marketing Spending Survey, 2013”. We previously scooped this, but wanted to make sure you had access.


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Rescooped by Gaurav Pandey from The Marketing Technology Alert
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CMOs Bullish About Social Media Spending - Marketing Charts

CMOs Bullish About Social Media Spending - Marketing Charts | Small Business Marketing | Scoop.it

Key excerpt...


CMOs say that social media currently accounts for 8.4% of their marketing budgets, but that social’s share of the pie will jump to 11.5% over the next 12 months, and climb all the way to 21.6% share in the next 5 years, according to findings from Duke University’s Fuqua School of Business, which just released its latest CMO Survey. The forecast may be over-aggressive, though: last year, CMOs predicted that social would grab 10.8% share of budgets by this point, with the reported share this year (8.4%) about 20% below that mark. Nevertheless, budgets are definitely on the increase: the 8.4% share noted in this survey is up more than 10% from 7.6% in August 2012, and is also up from 7.4% in February of last year.


The latest survey shows that current spending (as a share of total marketing budgets) is highest among B2C-services companies (9.9%), with B2C-product (9.6%) and B2B-services (9.6%) companies close behind. B2B-product companies drag down the average, spending only 7.5% share of their budgets on social.


Via iNeoMarketing
Gaurav Pandey's insight:

Sign of the times. 2013 seems to have taken off with a bang. Hopefully that means more work will trickle down to people like us :)

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iNeoMarketing's curator insight, February 27, 2013 7:51 AM

We highlighted the last sentence of the excerpt: given the need for B2B product companies to establish themselves as thought leaders and educate their audience on their products, we would've thought that this percentage would be higher.


  • See the article at www.marketingcharts.com
  • Receive a daily summary of The Marketing Automation Alert directly to your inbox. Subscribe here (your privacy is protected).
  • If you like this scoop, PLEASE share by using the links below.
  • iNeoMarketing merges marketing automation with content marketing for a powerful lead management solution, configured and managed by our knowledgeable, experienced staff.  Contact us
Rich Likes's curator insight, February 27, 2013 9:52 AM

social media is hot - with the added weight google has placed on site ranking by social signals