EIAA: European marketers upping online ad budgets in '09

Some 70% of European advertisers have increased the amount allocated to online advertising for the coming year. Such are the findings of a recent study by the European Interactive Advertising Association (EIAA).

Nearly half (47%) now see the Internet as an essential tool in their marketing toolkit, up from 38% last year and 17% in 2006.

Where's the money coming from? Marketers are continuing to reallocate budgets from traditional pots such as television, newspapers and magazines advertising.

"With every media investment closely scrutinized by brands, and a renewed focus on return on investment, online comes into its own as the most effective way of providing accountability for marketers," said Alison Fennah, executive director of the EIAA.

Along with Internet budgets, marketers are also recognizing the value and reach of mobile and increasing budgets accordingly.

"Market conditions are tough, yet online is continuing to innovate and emerging formats such as mobile advertising and online video advertising look set to become big players in the next few years as brands see the benefit of cross-platform marketing campaigns," added Fennah.

Tags: EIAA, Europe, marketing budgets, mobile advertising, online budget, traditional, video