Digital Marketing Budget Planning 2017

 

Social media marketing and content marketing will be the hotspots for digital marketing professionals this year if a current study by Statista is anything to go by. The study which drew answers from a research undertaken with 3,347 digital marketing professionals from around the world, asked the respondents about areas of digital marketing efforts they would like to increase, the ones they would like to keep the same and which ones they would like to decrease efforts in.

The information was represented in a 3-coloured chart. In the chart, the percentage of those who will be increasing their budget is represented with a Green colour, those leaving their budget as it was the in preceding year as Yellow while those intending to decrease them are represented in Red.

The results that follow are as amazing as they intriguing. It showed that a large percentage of digital marketers are going to prioritize social media marketing and content marketing in their 2107 budget over the other alternatives considered in the research.

The strategies considered are outlined as detailed in preferences.

  • Social Media Marketing
  • Content Marketing
  • Personalisation
  • Video Advertising
  • Mobile Marketing
  • E-mail Marketing
  • Webinars
  • Display Advertising
  • Paid Search
  • Affiliate Marketing

In a more elaborate way, Social Media Marketing and Content Marketing come first and second respectively in the survey. They therefore take a large share of the marketing budget while personalization and video advertising come closely in third and fourth positions respectively. Mobile marketing, email marketing, webinars and display advertising follow closely in the pecking order, as paid search and affiliate marketing seem to be the least areas to gain attention.

On the flip side, display advertising, paid search and webinars look like the ones that would be taking the worst hit as 13 percent of the respondents answered that they would decrease their marketing budget in display advertising and paid search while a close 11 percent of the respondents will cut down on webinars.

Content marketing on the other hand, seems to be one of the most trusted methods of marketing as only a meagre 3 percent of the respondents are looking to cut down on their budget. Coming close to content marketing are personalization and social media marketing, each having just 5 percent of respondents saying they will cut down on their budget.

In a full break down of the top three digital marketing elements, 56 percent of marketers responded that they would increase their social media marketing budget while 39 percent of marketers said they would keep the budget the same as a meagre 5 percent are looking to cut down on social media marketing. For content marketing, 55 percent of the respondents are looking to invest more in it, 42 percent would maintain their efforts from last year and 3 percent are looking to cut expenses in the field.  Personalization sees 51 percent of the respondents wanting to commit more budgets to it, 44 percent of respondents maintaining the same budget from the previous year while 5 percent are looking to decrease their budget in the field.

This statistics goes a long way to show what digital marketers think are giving them quality returns on investment hence their willingness to invest in the fields perceived as more rewarding by them. But more importantly, the responses show that digital marketing is still the way to go. With very few of the respondents wanting to cut down on different elements of the digital marketing mix, it is then safe to say that digital marketing is still producing results.

Tools will change, people will adapt and digital marketing would continually evolve, but everything points to the fact that digital marketing would continue to achieve results in the coming years. It is, therefore, important that new-comers in the marketing streams learn and take advantage of these rich data in managing their marketing plans in the coming years.

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