Credit crunch 'failing to dampen digital spending'

27th August 2008

A number of businesses around the world intend to continue spending significant amounts of money on digital media, despite the ongoing effects of the credit crunch, a new study by StrategyEye Digital Media has suggested.

According to the company, organisations are targeting the advertising, social media and mobile channels in particular over the course of the next 12 months.

Three-quarters of the 200 decision-makers polled by StrategyEye said that their companies had already implemented or were planning to roll out social media elements for their websites.

In addition, 87 per cent of those who stated a preference said they believed online ads provided better returns than their traditional counterparts.

Jeremy Phillips, co-founder and chief operating officer of StrategyEye, commented: "This major survey of attitudes going forward in digital media shows that despite continuing economic drift following the credit crunch, there remains continuing investment and expectation of returns from digital marketing channels."

A study conducted by the Internet Advertising Bureau earlier this year suggested that online ads comprise the biggest driver of consumer brand engagement for retail organisations.