CMOs report reduction & shift in marketing spend to digital

According to recent research by Epsilon “Chief Marketing Officers at many of the biggest brands in the nation [USA] are seeing a major shift in the marketing landscape. Almost two-thirds (63%) of the 175 marketing executives surveyed see an increase in their spending on interactive/digital marketing while 59% report a decrease in traditional marketing spend.”

Already we are beginning to see evidence of shrinking marketing budgets due to the financial situation and the reallocation of traditional media spend to digital.

Also interesting was the adoption of new media focused mainly on social computing and blogs, especially by bigger brands. It is early days yet and marketers are still getting used to some of the newer channels available to them.  I expect to see growth in the use new media channels such as mobile and continued expansion into blogs, social networks and social media in general.