Seventy-two percent of firms are planning to increase their budget for digital advertising, a survey by Nielsen N.V. and The Hong Kong Advertisers Association shows.
Expenditure on digital advertising is expected to make up 41 percent of total ad spending, up 11 percentage points from a year ago, the Hong Kong Economic Journal reported Friday.
Close to 60 percent of the digital advertising budget will be deployed to social media platforms, online ads and mobile media commercials.
The survey shows that 82 percent of the respondents have a poor outlook on the city’s economy.
Thirty-six percent — three times the figure a year ago — of the respondents have decided to shrink their spending on advertising.
The percentage of respondents considering increasing their spending on advertising dropped 7 percentage points to 36 percent.
Nielsen is planning to launch by the end of this year a method to measure objectively the effectiveness of advertising on digital platforms.
A multimedia gauge “e-Audit” will be rolled out with the aim of collecting data on digital advertising — such as the download volume of apps and hit rates — which will be translated into a quantitative representation of the effectiveness of the ads, said Nielsen senior director Cherry Lau.
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