Online marketing budgets to increase
The majority of companies are planning on increasing Internet marketing budgets this year. Seventy-seven percent of marketers intend to expand budgeting for digital, an 8 percent increase over last year (1). In addition, 22 percent intend to keep their budgets the same, while just 1 percent intend to decrease digital marketing budgets.
However, many companies cite barriers to moving forward effectively with digital marketing. Interestingly, those citing overall budget restrictions as reason for the declining focus on digital has decreased this year, moving from 45 percent in 2014 to 48 percent in 2015. Other barriers include the inability to measure return on investment, company culture, lack of understanding about digital and reliance on more traditional marketing channels.
On a positive note, 72 percent of marketers indicate that it's become easier for them to get executive buy-in for the digital projects they want to pursue.
Overall, marketers believe their vocation has changed significantly in the past few years, and many organizations don't believe they're keeping up. Only 1 in 3 marketers believe their companies are proficient in digital (2). On top of that, more than 60 percent think digital marketing constitutes a constant cycle of trial and error.
All in all, there are still some growing pains associated with digital marketing, even as companies begin to embrace it more fully.