It’s exactly what you’d expect. With advertising budgets shrinking in the credit crunch, agencies are looking to spend that they have more wisely – and this research suggests that means away from from print, and towards the web:

“Senior marketing executives anticipate further cuts, says the study, but are confident that they will be able to manage their budgets by focusing spending where it will have the greatest impact … [they] are seeking accountability and measurable results.”

Here’s the interesting detail:

“CMOs of the biggest brands have been early adopters of new media with social computing and blogs receiving the most interest whereas instant messaging and interactive TV ads were the least popular.

• Social computing (including word of mouth, social networking sites, viral advertising, etc.) was the most popular emerging channel with 42% of marketing executives expressing interest in adding it to their marketing mix
• Blogs were the second most popular emerging channel: 35% of marketing executives want to pursue blogs and 19% already use blogs
• Almost one-third of CMOs mentioned Podcasting as an area of interest: 31% are interested in adding Podcasting to their marketing mix and 18% already have.
• Mobile devices also elicited interest: 29% are interested in Mobile Devices (Phones/PDAs) and 22% have added them to their marketing mix

And more in this PDF