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.