Top marketing executives are anticipating increases in spending on digital advertising during this upfront season, according to new figures from Nielsen.
For its first annual CMO report, Nielsen interviewed the chief marketing officers and found the sharpened focus on digital spending is practically industrywide.
About 82% of marketers plan to bump up their digital media spend by an average of 49% of their total advertising budgets in the next 12 months. Next to that, nearly 80% of marketers plan to increase their investment in analytics or attribution solutions in the next 12 months.
"We conducted the research for the Nielsen CMO Report 2018 with one central goal, to give voice to brand advertisers who are facing some of the most daunting challenges of their organizations," said Eric Solomon, senior vice president of product marketing and strategy at Nielsen, in a statement. "What we heard was that despite the prevalence of new advertising and promotional channels and significant investments in data and technology, marketers are still struggling to generate and prove sales results in an increasingly omnichannel world."
While 30% of respondents ranked TV as extremely important to their marketing strategy, traditional media in general is not growing like digital. Nielsen said that less than a third of respondents expect an increase in traditional media budgets over the next 12 months.