LONDON: Marketers targeting affluent consumers in the UK are planning to spend around twice as much on online video and rich media as their mass-market counterparts, new research has shown.
Martini Media, a media and advertising company, surveyed 226 UK marketing professionals, including brand advertisers (43%) and agencies (57%), nearly half of which were targeting high-income consumers, as it sought to determine where brands were focusing their marketing efforts in 2013 and beyond.
"Luxury brands need a big, beautiful canvas to showcase their products," said Skip Brand, Martini Media's chief executive, adding that standard display advertising "just isn't cutting it".
"We can expect to see standard display spending continue to decrease as brands turn to rich media, social, video and mobile to effectively connect with their audience," he stated.
The study revealed that 95% of UK marketers expected to increase their digital spend during 2013, and that almost half (48%) of their total budget would be directed to this channel.
Many pointed to the demonstrable effectiveness of new media, with three-quarters saying that high-impact ads could achieve a similar level of cut-through as TV and print advertising.
In addition, some 71% were using digital to build brand awareness and 63% intended to ramp up their social media efforts.
"Brands across the board see the value of digital, not just as a direct response mechanism but as a brand building tool," said James Drake-Brockman, Head of EMEA - Digital Marketing, DMG, which conducted the research in conjunction with Martini Media.
"The fact that 71% of respondents use it for this purpose shows the continuing shift in attitudes of advertisers and agencies, which ties in with the increase in platforms and opportunities available for them to target consumers," he concluded.
Data sourced from Wall Street Journal; additional content by Warc staff