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Firms invest more in web analytics as marketing budgets increase
More firms are investing in web analytics technology to measure the various marketing channels brought about by an increase in online marketing budgets, according to a report from the digital marketing portal Econsultancy.
The Marketing Budgets 2011 report was conducted between December 2010 and January 2011 and is based on a survey of over 500 in-house and agency marketers. It explored intentions of UK marketing spend for the coming year, with 72% of respondents stating a commitment to increase their digital marketing budgets.
Given the need to understand and measure the effectiveness of various marketing channels and how these channels relate to each other, 45% of respondents claimed that spending on web analytics software at their companies would rise in 2011. The respondents cited CRM (40%), content management systems (39%) and email platforms (39%) as other technology areas for investment.
The Econsultancy report suggested that the increased investment in web analytics technology mirrors the increasingly positive economic outlook, with 52% of companies enlarging their overall marketing budgets for 2011 as opposed to 47% of companies this time last year.
The report also found that companies are taking an interest in offline marketing channels. TV investment is up by 8% (to 31%), while radio is up by 11% (to 25%). Econsultancy Research Director Linus Gregoriadis said: “Companies are investing in offline marketing channels to complement increased digital investment, with integrated campaigns which – for example – use television and radio advertisements to drive searches and website traffic.”