2017 Marketing Budget Trends by Channel
This article, 2017 Marketing Budget Trends by Channel, should be of interest to anybody in the content marketing business. Marketers are in the midst of impressive spending hikes in 2017 of 56% for social media marketing and 55% for content marketing. This is on top of already impressive hikes in previous years.
Content marketing remains one of the most effective methods to tell your branded story. As we mention often here at Copybrander, people remember a good story. Developing great content is all about storytelling. At Copybrander, we create unique, interesting, and memorable content for the Insurance, Benefits and Technology B2B Markets.
2017 Marketing Budget Trends by Channel Which channels are marketers going to be investing more – and less – in this year? A review of studies from Econsultancy [download page] and Gartner offers a window into marketers’ plans for this year. Hint: social media marketing appears to be ripe for further spending, and enthusiasm around content marketing remains healthy.
The latest Quarterly Intelligence Briefing produced by Econsultancy in association with Adobe asked almost 3,500 company marketers around the world how their spending on various digital marketing channels and disciplines would change this year.
The areas of broadest agreement for spending hikes this year are social media marketing and content marketing, set for increases by 56% and 55% of respondents, respectively. These aren’t surprising given the recent levels of enthusiasm for these channels, but nevertheless the results indicate that such enthusiasm doesn’t seem to be waning. In fact, content marketing and social media engagement emerged as the top digital-related priorities for respondents’ organizations this year.
Close behind, at least half of respondents will increase their spending on personalization (51%), video advertising (50%) and lead generation (50%). Personalization has become a top priority for enterprise organizations as they seek to respond to customers’ changing needs, while video advertising is set for annual increases of almost 20%/. As for lead generation, spending increases in this area are likely going to be made with improved lead quality rather than quantity in mind.
An earlier Gartner study took a look at the spending plans of 377 CMOs in the US (56% share), UK (30% share) and Canada (14% share), 70% of whom come from organizations with at least $1 billion in annual revenue.
The results of that survey indicate that digital advertising has a bright year ahead: a leading 23% of respondents projected a “significant” increase in digital ad spend this year, with another 42% expecting a “slight” increase. All told, then, almost two-thirds expect an increase in digital ad spend, against just 7% decreasing it. (It’s worth noting that digital advertising spend in the US slowed at the end of last year as some large advertisers didn’t see the returns they were expecting. This coincided with some big spenders returning to TV.)
Meanwhile, although social marketing didn’t gain quite as much spending consensus as digital advertising, fully 1 in 5 respondents said they would increase their budgets for social “significantly”. That trailed only digital advertising in terms of “significant” spending hikes, and was still supplemented by another 36% expecting a “slight” increase.
Author: Lance Gurganus
Author, Blogger, Content Developer and Founder @Copybrander. I’m a multi-million dollar insurance marketer who specializes in developing content for the insurance and financial services industry. I’m also a ruggedly handsome 40ish Dad with ADD who writes a lot…
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