In its “Marketing & Media Snapshop: 2004” press release, Millward Brown shares results from a survey conducted among 300 senior-level marketing executives. Some of the key findings include:
- 56% of top marketers say their total marketing and media budgets increased in 2004 over 2003. Sixty percent expect an increase in 2005.
- Marketers with the largest budgets ($400 million+) are most optimistic about budget increases in 2005 over 2004.
- Online marketing is growing the most (54.1%) as a share of total budgets and marketers expect this trend to continue.
- All channels of online marketing (Web advertising, search, email, promotion) are expected to increase at a higher rate than other major media.
- Direct mail was rated as most effective for reaching a target audience and providing measurable ROI.
- Online is seen as the most effective medium for acquiring and retaining customers and in offering efficiency.
- 89% of marketers say their companies run integrated marketing campaigns, but they define integrated marketing in many different ways.
Marketers rated TV and magazines as most effective for building brand equity.
eMarketer provides further details providing comparison of marketing spending growth year over year in 2003/2004 and 2004/2005:
Now the question is, who and how measures the ROI of online budgets across the multiple channels? Sure, TV is great for branding but can TV give you the precision for conversion rate measurement which the web can? A survey on the web analytics budgeting across different industries and media channels would have perfectly complemented the survey on online ad forcasting. Budgeting online marketing without budgeting the measurement of its effectiveness is not wise budgeting.