October 30, 2018

Boom in global marketing costs


According to a new study by marketing intelligence company WARC, global expenditures on marketing technology are estimated to have reached $100 billion. The results have been based on a survey of 800 brands and agencies in the UK, North America, continental Europe, and the Asia Pacific. Costs on marketing technologies are about 23% of total marketing budgets, in comparison of 16% in 2017. It may seem strange, however, a vast number of replies pr...oves to the fact that a significant part of the budget goes to email marketing (79%) and social media (77%). Such a traditional channel of customer engagement is still popular nowadays. 36% of marketers say they implemented tools for voice search (especially in the UK) and 11% plan to do it in the next few months. 75% of respondents mentioned an increase in the budget for analytical marketing tools, measurement and insights (by 19% in comparison with the last year). A trend for moving expenditures from outsourcing staff members to in-house is still growing this year. In the UK and North America, 63% of marketing budgets are spent at in-house team members, up to 44% compared with the previous year. Global marketing expenditures are booming, and traditional media is ‘paying the price’.

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