Increasing concern among marketers that traditional advertising is losing its consumer potency has significantly boosted spending on market research, reports the London office of global media agency ZenithOptimedia .
According ZO, global spending on market research - currently $23 billion (€19.66bn; £13.29bn) - will grow by over 11% this year and by as much again in each of the following two years.
The agency reports that companies are spending more to measure the impact of advertising as they shift resources to new approaches, particularly on the internet.
It reflects marketers' belief that they can no longer rely on traditional TV advertising alone to reach a mass market. "You can spend a lot of money and reach nobody," believes Zenith ceo Steve King.
"You need a much more dynamic research structure to reflect rapidly changing media consumption patterns," he adds, "particularly among upscale and younger audiences."
The swing to greater reliance on advertising research is but one of several trends highlighted in Zenith's latest forecast of world adspend. It predicts that expenditure on traditional advertising continues to track, even exceed, the global economy.
Among the report's key projections ...