Digital and mobile advertising budgets in Hong Kong tipped to hit record high this year
72 per cent of marketers committed to intensifying digital and mobile initiatives
Advertising spending in Hong Kong is predicted to grow modestly this year as marketers increase their budget for digital and mobile campaigns in the city to a record high.
“While marketers remain cautious because of all the economic uncertainties, more than a quarter of them remain positive about the performance of their companies this year,” Cherry Lau, senior director at Nielsen in Hong Kong, said on Thursday.
The latest industry study by the Hong Kong Advertisers Association and market-measurement firm Nielsen showed that 29 per cent of the 100 major marketers in the city they surveyed would increase their advertising expenditure this year, 35 per cent would keep it unchanged and 36 per cent would cut their spending.
Last year’s survey showed 36 per cent wanted to spend more, 52 per cent did not see any changes in their budget, while 12 per cent planned to cut spending.
Lau said the big difference this year was that marketers were poised to allocate more of their resources to digital and mobile campaigns than in any previous year.
Of those polled, 72 per cent were committed to intensifying digital and mobile initiatives.
The power of digital ad formats cannot be underestimated, as they offer many advantages for achieving effective reach
