Good news (for us humble new media types, anyway):
More than 75% of senior marketers say they expect spending for new media and online initiatives to increase in the next year despite the tough economy, according to the sixth annual PR Week Marketing Management Survey.
Only 21% of the 252 US chief marketing officers, VPs of marketing and marketing directors and managers say budgets will remain the same, and 4% expect a decrease.
Less Good News (for some agency folk):
Survey participants also overwhelmingly agree that they would be “most likely” to cut from many other disciplines before turning to digital if forced to scale back budgets as a result of poor economic conditions. Advertising is cited as the most likely to be cut (35%), followed by point-of-sale marketing (29%), public relations (16%) and direct marketing (16%).
Says a spokesperson: “Digital is an advisable investment because of the strong, measurable results it can produce and targeted audiences it can reach, and it’s also one of the more economical options. On the other hand, advertising is more expensive and PR more vulnerable because marketers feel it isn’t measurable.”