Three-quarters of the biggest brands in the UK are failing to properly exploit new media and online channels, according to a survey of the country’s top marketing spenders.
The research, conducted by OgilvyInteractive, found that although big brand marketers acknowledge the importance and competitive advantage to be gained by using new media, they believe their own organisations have not met the challenge.
Asked to rate the current performance of their own organisations in new media and online channels, the average score was 4.5 out of ten.
OgilvyOne managing director Mike Dodds says: “There are real challenges when it comes to getting new media and channels, from niche to mainstream. But these challenges need to be addressed. Many companies are only spending two per cent of their advertising budget on the internet, when it is consumers’ third most popular media form.”
The survey – unveiled at last week’s Verge Digital Marketing Forum – also found that 70 per cent of respondents felt they did not have the time to stay on top of digital innovation. Yet three-quarters of those polled recognised it was imperative not to be “left behind”.
Qualitative research was undertaken between January and April with senior marketing professionals working in Fortune 500 companies.