Sixty percent of marketers expect budgets to rise, with 43% planning for increases of 5% and up, with those in the automotive, financial services and technology sectors feeling the most confident, according to 1,000 marketing chiefs surveyed in 10 countries by the Dentsu Aegis Network.
The research also shows that people’s intolerance of advertising is a primary concern: 46% said this is a key barrier. “One of the most challenging trends facing marketers within global brands is the creeping realization that often consumers don’t really want to see advertising — at least, not in its traditional form,” Dentsu’s report states.
Dentsu’s report suggests that creating ad campaigns that spark an emotional reaction is one way of getting a message across, along with the careful use of data for targeting.
The report also identifies “brand purpose,” where a company has a vision beyond just what they sell, as important. Nearly 70% of those surveyed said making sure their brands had a positive impact on society was an important way to engage people.
“It’s those brands that are best at reorienting their business and operating models around the consumer that will win. That can take time and money, both of which are in short supply — CMOs identify a lack of long-term investment as the key challenge to delivering their strategy,” said Nigel Morris, chief strategy and innovation officer at Dentsu.
Dentsu Aegis surveyed 1,000 senior marketers online in April and May 2018, in Australia, China, France, Germany, Italy, Spain, the U.K., Japan, Russia, and the U.S.
Source: Handley, L. (2018, July 31). CNBC.