|The Fifth Annual Latest Senior Marketers Monitor conducted by Australian Marketing Institute and Colmar Brunton forecasts healthy budget growth, stabilisation in digital spending and a stampede towards content marketing.
Content marketing is on the rise. Included for the first time in 2013, expenditure on content marketing is expected to increase for almost half of the organisations. The use of social networking and Web 2.0 as a communication channel continues to grow, but spending has stabilised.
Rounding out the top five channels by expenditure are:
- >> Social networking and Web 2.0 applications
Traditional media is also growing again.The movement away from investment in traditional marketing has been arrested with an intent to increase the use of channels such as radio and Pay TV growing for the first time in a number of years.
Marketing budgets continue to grow
Budgets are expected to record another overall increase in 2014, at around an average of 3.4 per cent against the 1 per cent recorded in the previous survey, and the 4 per cent growth of 2011. 41 per cent of marketers are anticipating their 2013 budgets to increase, against 38 per cent expecting expenditures to remain largely unchanged.
This year large budget variances are expected across all sectors. Organisations with a turnover of under $150 million are more likely to be expecting budget increases, and among those expecting increases the average lift is a very healthy 18 per cent.
Top marketing priorities continue to be measures to increase sales, customer acquisition and focusing on more profitable market segments, with a decreased focus on efficiency and brand building than in previous years.
Click here to download the Australian Marketing Institute Senior Marketer Monitor 2014.