Why Digital Is Grabbing a Bigger Share of Consumer Product Budgets
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If there were any doubts that the age of digital marketing has fully arrived for packaged-goods companies, the Consumer Analyst Group of New York conference in Boca Raton, Fla., last week should put them to rest.
One after one, executives of top players talked about how big digital had gotten for them — and how they were still expanding it. It was a contrast to only three or four years ago, when the executives were also touting digital, but spending was in the low-single digits of CPG media budgets, so even double-digit growth remained pretty insubstantial.
No more. For many top consumer products companies digital either already has or is heading toward eclipsing magazines as their No. 2 spending category behind TV. And for some it may soon be No. 1.
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