Global marketers are set to ramp up their investment in digital advertising next year, despite ongoing concerns about effective measurement of campaigns.
Roughly 84 per cent of marketers plan to increase their investment in online video ads, while 70 per cent will ramp up spend on social media networks, according to a study published by Kantar.
In addition, almost two-thirds said they will pump more money into podcasts amid surging popularity of the on-demand audio format.
The continued confidence in digital advertising comes despite ongoing concerns about how to measure the impact of online campaigns, particularly due to control of so-called walled gardens such as Google and Facebook.
In addition, the survey revealed the ongoing shift to digital formats will take its toll on print media next year.
Around 70 per cent of marketers said they will decrease spend in magazines, while 66 per cent plan to cut investment in newspaper advertising.
“While the rapid growth in digital ad spend comes as no surprise, this new research indicates that marketers still have a long way to go to when it comes to cross-channel measurement and proving return on investment,” said Jane Ostler, global head of media effectiveness at Kantar.
“The next 12 months will see huge changes for the industry, with the rise of newer channels, such as podcasts and advanced TV, and the move away from cookies set to transform the way advertisers target and measure campaigns.”
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