Almost 60% of businesses are planning to invest more in their marketing activities in 2014, compared to 54% in 2013 and 45% in 2012, a new report from Responsys and Econsultancy shows. Just over a third of marketers are looking to keep their budget the same, and only 6% are aiming to decrease spending.
The Marketing Budgets Report 2014, which is based on a survey of over 600 marketers and agency respondents, also found that brands are aiming to focus significantly on digital spending, with 71% of respondents citing plans to increase online expenditure, compared to just 20% aiming for higher offline budgets. Digital will account for an average of 38% of marketers’ total spend in 2014, up from 35% the previous year.
Responses from 48% of the survey participants suggested that the lines between traditional and digital budgets have become blurred, since they found “little” or “no distinction” between the two.
Marketing budgets will see an average rise of 26% this year, although 73% of respondents stated they plan to increase spending by up to 30%. The average rise in digital marketing budgets will be similar, at 27%, with just 12% of respondents planning increases of over 50%.
Content marketing has been recognised as the most attention-grabbing and profitable area, and will see an increase in spend across 74% of organisations. Other fields of interest include mobile marketing, with 63% of marketers citing plans to increase spending on mobile marketing and acquisition, with another 60% intending to focus on mobile marketing for retention.