Data: 56% of Business Leaders Expect to Grow 2016 Marketing Budgets
January 28, 2016 | Contributed by: Joe Morsello
Despite economic uncertainty, over half (56%) of business leaders plan to increase their marketing budgets in 2016 — mostly in digital. According to the Selligent and StrongView study, email is one of the biggest drivers of this increase, with 6 in 10 expressing plans to increase email marketing budgets.
Beyond email, the channels seeing the largest budget increases include social media, online display, mobile and search (SEO/PPC). The outlets that will see the largest decreases include print, tradeshows/events, direct mail and radio/TV.
While “traditional” media are seeing shifts in spending, there are some channels that will see increases. Only print and radio/TV will see net declines. In other words, all marketing channels should expect to see gains, with the exception of print and radio/TV.
The data is directionally similar to what LSA is seeing with the small business advertiser population.
The data comes from a StrongView and Selligent survey of 295 US business leaders, 68% of which had fewer than 500 employees; 31% were larger. For access to the study click here. To access the graphic above, click here.