In what should surprise no one who works in media markets, a new study shows that 63% of 175 CMOs have increased their spending on interactive/digital marketing while 59% have reduced their spending on traditional marketing. The study, conducted by marketing services firm Epsilon, found that CMOs of the biggest brands have been the early adopters of new media: 42% of CMOs plan to add social networking to their marketing mix; 35% want to pursue blogs and 19% already use blogs. But the dollar flow to new-media tools will take a while due to the financial crisis: 65% of CMOs said the money spent on advertising as a whole will decrease because of the economic slowdown.
