A survey of 600 company and agency marketers carried out in December 2014 and January 2015 found that marketing budgets will increase in 2015.
The Marketing Budgets Report, published by Econsultancy and sponsored by Oracle Marketing Cloud, reported that 63% of marketers say that their companies plan to raise overall marketing budgets for 2015.
On average marketing budgets will go up by 25% this year with the greatest investment in digital marketing.
Key findings of the marketing budget survey
- 77% of the companies surveyed said their digital marketing budget will increase.
- The greatest budget increases will be for content marketing, lead generation and search engine optimisation.
- The greatest budget share will go to paid search (13%) and content marketing (10%).
- 71% of marketers say that they are likely to increase marketing spend on earned media (social media or content marketing) in the next year.
- 67% of marketers say that they are likely to increase marketing spend on owned media (own digital platforms) in the next year.
- 61% of marketers say that they are likely to increase marketing spend on paid media (display advertising and paid search) in the next year.
- Significantly fewer companies are planning to increase investment in offline marketing channels.
- The areas where there is most likely to be greater spend are conferences (38% of respondents) and direct mail (31% of respondents) saying that they will increase budgets.
- The areas where budgets are likely to be reduced are outdoor (37% of respondents) and radio (36% of respondents).
The results of this survey reflect a growing business confidence and are pleasing to see. Investment in marketing is key for any business wishing to grow and keep ahead of the competition.
If you are planning to increase your marketing budget in 2015 and would like help to ensure it is appropriately spent please give us a call on 01395 269791.