How Marketers Are Spending Their Money in 2023
Marketing is constantly evolving, and as we enter 2023, the way marketers are spending their money is shifting as well. To gain insight into the current state of marketing budgets and where marketers are allocating their resources, we surveyed 8,032 marketers from various industries and company sizes.
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According to our survey, digital advertising is the top priority for marketers in 2023, with a majority of respondents (65%) saying they plan to increase their spending in this area. This is not surprising, as the shift towards online shopping and increased use of social media has led to a greater need for online advertising. Platforms such as Google, Facebook, and Instagram have become key advertising channels, with many businesses finding success through targeted advertising and retargeting campaigns. Additionally, with the increasing use of mobile devices and the rise of video content, businesses are investing in programmatic ads, native ads, and video ads to reach their target audience more effectively.
Content marketing is another area where marketers plan to increase their spending in 2023. Our survey found that 55% of marketers plan to increase their content marketing budget, with the majority of this spending going toward creating and distributing high-quality written and video content. This is in line with the growing importance of creating valuable and informative content to attract and engage with potential customers. Additionally, with the rise of voice search and virtual assistants, marketers are also investing in creating more voice-enabled content to cater to the needs of their target audience.
Influencer marketing is also on the rise, with 39% of marketers saying they plan to increase their spending in this area in 2023. Influencer marketing involves partnering with popular social media personalities to promote products and services to their followers. As social media continues to be a significant part of people’s lives, influencer marketing has become an effective way to reach a large and engaged audience. Brands are also increasingly partnering with micro-influencers, who have a smaller but highly engaged following, to reach specific target audiences.
Social Media Marketing
Social media marketing is another area where marketers are allocating more of their budget in 2023. Our survey found that 35% of marketers plan to increase their social media marketing budget, with a focus on creating and distributing engaging content and running targeted advertising campaigns. This is in line with the growing importance of social media as a way to connect with and engage with customers. Additionally, with the rise of social commerce and shoppable posts, brands are also investing in creating more interactive and shoppable content on social media platforms.
Email marketing continues to be an important channel for marketers to reach and engage with their target audience. Our survey found that 30% of marketers plan to increase their spending on email marketing in 2023. This is due to the fact that email marketing remains one of the most effective ways to nurture leads and drive conversions.
Search Engine Optimization (SEO)
Search Engine Optimization (SEO) is another area where marketers are investing more of their budget in 2023. With the rise of voice search and an increasing number of people using virtual assistants to search for products and services, brands are investing in SEO to ensure their websites are optimized for voice search and are easily discoverable by their target audience.
Conclusion: In conclusion, our survey found that digital advertising, content marketing, influencer marketing, social media marketing, email marketing, and SEO are the top areas where marketers plan to increase their spending in 2023. As the way people shop and consume media continues to evolve, marketers are shifting their focus towards online channels and strategies that can effectively reach and engage with customers in the digital space.