According to a report unveiled by Gartner 2016-2017 CMO Spend Survey, budget allocations on marketing by various organizations increased by an average of 12% in 2016, compared to the previous year, and is expected to rise further in 2017. Including more than 300 organizations across the U.K. and U.S., the following facts emerged.
Projections For 2017
Admitting that marketing is indispensable in improving both long-term and short-term customer experiences, smaller companies ($250-500 million in revenue) said they will be spending about 10% of their annual revenues on marketing in 2017. On the other hand, larger corporations (>$5 billion in annual revenues) will be spending up to 13% of their revenue on marketing.
Digital Marketing Compared
Overall, the survey focused on 14 categories of marketing – nine for digital marketing and five for traditional marketing. From this data, 65% of the organizations reported they were going to increase their online marketing spending. When organized chronologically from the category with the highest budget priority to the one with the least priority, these were the findings:
- Email marketing
- SEO (organic search)
- Content marketing
- Paid search (PPC)
- Online direct marketing
- Social media
- Affiliate marketing
- Online display marketing
- Mobile marketing
Factors that have triggered the increased need for digital advertising:
- A continuing shift of spending from offline media to online advertising
- Increasing need for paid social as opposed to organic search to meet traffic goals
Why WSOA for Your Online Marketing Needs?
From the above analyses, it is explicit that spend directed toward marketing reflects the demand for an online presence for businesses to succeed. Understanding this fact, Web Solutions of America is here to offer you comprehensive online marketing services, including but not limited to email, online advertising, website design, and social media. We measure your budget against benchmarks, which enables us to help you avoid overfunding or underfunding your online marketing operation relative to your peers or competitors.
To discuss your online marketing project with one of our experts, call (407) 636-4233 now!