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BizReport : Research : July 17, 2008
Websites get big % of online marketing budgets
A large percentage of U.S. marketers’ budgets are directed toward their own websites, finds a recent survey.
U.S. businesses will spend $US105.3 billion on Internet advertising and marketing in 2008, according to new the third annual advertising and marketing report from Outsell Inc. It's a milestone measurement as that figure now exceeds spending on TV, radio and movies which is worth $98.5 billion.
Three-quarters of the more than 1,000 U.S. advertisers surveyed for the report said that websites were their most effective lead generation tool, even when put up against activities such as exhibitions, trade magazines and custom pubs.
It’s not surprising then that the same report found that a massive 61.8% of online advertising and marketing budgets, or $65.1 billion a year, is spent on websites.
“This partly reflects a shortage of online ad inventory, but may also signal dissatisfaction with the advertising and marketing services offered by online publishers,” writes Mediapost’s Erik Sass.
Tags: advertising spend, marketing budget, online advertising, website
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