However, marketers and agencies are planning to primarily increase spend on proven channels, with a much smaller share going to unproven tactics.
Overall, agencies expect a 20% year-over-year growth in digital spend in 2014, and brand marketers expect a 38% increase.
Advertising and marketing decision-makers say video spending will continue to grow and will play a dominant role in their 2014 digital marketing plans. Approximately 61% of marketers surveyed plan to use the channel as part of their strategies.
Cross-device spend is also set to grow substantially, with 59% of advertisers planning to invest in the channel.
Below, additional key findings from the report, which was based on data from a survey of 200 senior-level agency and brand decision-makers with digital budgets of at least $2 million.
- 73% of marketers surveyed say personalized one-to-one digital marketing is the future.
- However, marketers and agencies differ on the current effectiveness of personalization: 44% of marketers strongly agree that personalized messages are more effective than mass messages, compared with 30% of agency respondents.
Ayaz Nanji is an independent digital strategist and a co-founder of ICW Content, a marketing agency specializing in content creation for brands and businesses. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.
LinkedIn: Ayaz Nanji