If you've been on the fence about increasing your business' digital marketing budget, you may want to open your wallet, according to a new study conducted by market research firm Gartner. The group's latest Digital Marketing Spending states that advertising budgets will increase by 10 percent this year.
The research group surveyed 300 marketing professionals that answered on behalf of their organizations. They represented a variety of industries including financial services, retail and media. Eleven percent of respondents said that their companies spent half of their marketing budgets on internet marketing solutions. This figure was just 3 percent a year ago.
What has caused this jump? As you may have guessed, the increased use mobile devices has influenced how companies are choosing to reach potential customers.
"Until now, many marketers have taken a cautious approach to mobile because it involves so many variables such as different operating systems, devices and carriers," Michael McGuire, research vice president at Gartner, said in a statement. "Now that more than 50 percent of American adults are smartphone owners, marketers are compelled to develop mobile strategies that ensure their products and services can be found, and purchased, by consumers on-the-go."
The study also found that marketing professionals expect that their companies will put even more money into digital ad spending.
As evidenced by the study, the growing use of mobile devices has strongly influenced how small businesses and major corporations are reaching their clients. Smartphones and tablets are here to stay, and adoption of these devices will only continue to grow. Businesses that want to stay competitive would be wise to partner with an internet marketing firm like KeyMedia Solutions.