DIGITAL MEDIA

Digital media spend remains on the rise and could replace some traditional marketing mediums within five years, a recent industry survey has claimed.

The research, compiled by digital marketing company Next Digital, suggested that the number of companies spending between one quarter and half of their marketing budget on digital media will increase by more than 40% over the next five years.

Currently, 10% of organisations allocate funds to digital marketing, but that figure will increase to 51% by 2013, according to the results.

Dr Michael Valos, a senior lecturer in marketing at Deakin University, who worked with Next Digital to conduct the research, said digital media was a significant opportunity for marketing strategists.

“While some are already experimenting with it, I think we will see over time that organisations will start to replace traditional media for digital alternatives,” he said.

He also claimed that social networking opportunities such as Facebook and MySpace were being underused by marketers. “There really needs to be a widespread shift of marketing understanding as we enter the digital media age,” he said.

Meanwhile, while the majority of survey respondents practiced search engine optimisation and search engine marketing, more than 20% percent of respondents did not.

He added: “There’s no doubt that digital media is a growing market. However, right now the riskiest approach for organisations would be to ignore it,” Dr Valos said.

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