The future of marketing is changing at an ‘unprecedented rate’ and a third of senior marketing executives are expected to be spending seventy-five per cent of their budgets on digital campaigns, a new survey has revealed.
The survey, run by Accenture, questioned more than 580 senior marketing executives all over the world, and found that seventy-eight per cent believed that marketing will ‘undergo fundamental changes’ over the next five years. Analytics, digital marketing and the use of mobile devices will be some of the main causes of these changes, according to those surveyed.
More than a third of marketers believe that by 2019 seventy-five per cent of their marketing budget will be spent on digital campaigns, while thirty-five per cent believe that their budget for mobile marketing will stand at fifty per cent.
These figures are far greater than those used on digital marketing at present. Brand giant Procter & Gamble, who are big digital marketing advocates, only put a third of their media spend into digital. However, along with rival companies such as Unilever, Mondelez, SABMiller and Pernod Ricard have revealed plans to restructure their marketing budgets around digital in order to maximise coverage in the most cost effective way.
Thirty-nine per cent of the businesses surveyed spend £100 million annually on digital marketing, and forty-one per cent expect that figure to rise by at least five per cent over the next year.
The increases come as senior executives become more confident in the effectiveness of digital formats, including email, search and online display.