Report: More leading marketers are adopting an agile approach to budgeting

Report: More leading marketers are adopting an agile approach to budgeting

As marketers look to improve the return on investment (ROI) of their various tactics, new research suggests that many are taking a more agile approach to budgeting. Specifically, they’re adjusting their spend based on the ROI they’re seeing from specific channels.

Kantar and Google recently partnered conduct a survey to determine how marketers are budgeting across multiple channels to achieve their primary goals. The statistics indicated that the majority of top marketers (73%) now find it “very easy” to increase budgets for channels that exceed their goals or expectations. What’s more, these changes in investments often happen quickly, with budget changes of 20% or more typically within a week for most marketers (58%).

Overall, 21% of leading marketers make daily budget adjustments for digital channels, while 7% of average marketers do the same. About 30% of top sellers do this weekly and 21% of average sellers also make these adjustments every week.

Marketers predict budget cuts heading into 2023

Many marketers are allocating their budgets to their most effective tactics, which may become a necessity: previous research indicates that many marketers are expecting a budget squeeze in the new year.

Integrate as a team with Demand Metric for publish The State of Marketing Budgets report and data suggest that roughly a quarter of marketers expect their marketing budget to shrink by 2023. However, most marketers (37%) are more optimistic about the performance of his team than a year ago. .

In the new year, most marketers (54%) intend to spend more than their budget content marketing creation and strategy.

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About the Author: Ted Simmons

I follow and report the current news trends on Google news.

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