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68% of Marketers to Increase Digital Video Spending, Says Report

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A recent report says marketers plan to increase their digital ad spend significantly, and one of the big winners in that area is digital video.

According to a research report from digital marketing agency Adtaxi, 74% of marketers plan to increase their spend in digital, while 20% will keep the same level, and 3% will decrease spending. Conversely, more marketers plan to decrease cable and TV spending rather than increase it. Adtaxi's data comes from an April 2019 survey of over 100 marketing professionals.

News 1Drilling down into digital spending, Adtaxi asked which categories marketers plans to invest the most in. Social platforms led the way with 81%, search with 72%, and video with 68%. The report says marketers are bullish on digital video because it offers better ROI than TV ads. TV ads might cost $7 to $8 on a cost-per-thousand (CPM) basis, but they can't be targeted. Compare that to digital video which might command a $25 CPM, but can be targeted so there's less waste. Advertisers are able to zero in on the people they want to reach.

"With its targeting capabilities, internet advertising blows TV out of the water and does not increase costs to do so," says Murry Woronoff, national director of research at Adtaxi.

For more, download the full report for free (registration required).

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