Online advertising grows up: Marketers to spend more on brand ads
Marketers say they plan to increase spending on online brand advertising in a new report that comes just weeks before the major digital distributors are preparing to woo Madison Avenue in a series of advertising presentations.
The new 2013 Online Advertising Performance Report, produced jointly by the CMO Council and the Nielsen Co.’s Vizu, a unit that specializes in measuring online ad effectiveness, found that advertisers are changing how they view the medium.
Though they once used online primarily for direct response, marketers who responded to this year’s survey said they plan to allocate more of their digital dollars to brand advertising that’s used to promote a company, product or service.
Sixty-four percent of marketers said they would boost their online brand advertising budgets this year. One in seven said they planned to increase their use of social media, followed by growing interest in mobile advertising (69%) and video advertising (64%).
The survey indicates brands are following consumers as they migrate online at an accelerated space and devote more of their time to new screens.
The findings of the Online Advertising Performance Report, which surveyed 450 digital marketing and media professionals, are released as online distributors, including Google Inc.’s YouTube, Yahoo, AOL and others, participate in a series of presentations to advertisers in New York City.
The weeklong digital New Front, which begins April 29, is modeled on the television industry’s glitzy “upfront” presentations that mark the formal start of negotiations with advertisers interested in placing bets on the fall prime-time lineup. The media world’s digital counterparts are eager to grab an increasing share of brands’ advertising budgets.
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