The top reason is that they plan to buy

Plan to maintain spending as it is still profitable. And cutting it would cause the company to lose money. 42% plan to reduce spend on influencer marketing with the main feedback being. That they are not able to generate ROI growth If you look at the chart. It is clear that Influence Marketing is effective for some businesses. About 58% of companies using this form of marketing are profitable. Traditional Ads  Traditional Ads.  What should marketers do with traditional advertising budgets in 2023? There are quite large changes in trends in traditional advertising methods . Most companies tend to reduce their budget for this form . The main reasons are.

The top Provides more transparency

OTT CTV if you are not familiar with these terms. It refers to online television. 52% Of companies on OTT CTV, the main reason being that it and Asia Mobile Number List tracking than traditional TV advertising.  35% plan to maintain current spend in this category as it. Supports brand growth and remains profitable. 13% plan to reduce spending, the main reason is to shift budget to. Google advertising and other more profitable channels. Influencer Marketing , mainly used by eCommerce companies.  41% plan to increase spending with the main. Reason being that it delivers better ROI than other Marketing channels they are using.

Plan to increase spending

Cheaper than radio. 4% of respondents said they are reducing their budgets in this category, from podcast ad spend. Banner Ad 34% plan to increase their Belgium Phone Number List budget with the main. Reason being that it is profitable and they want to scale up.  52% plan to maintain current spending with.  14% of companies plan to reduce spending on this form. Because it is not as profitable as they expected. Remarketing  remarketing .  94% plan to increase their budget because they consider this one of. The most profitable marketing channels.  5% plans to maintain its current level as it remains profitable.  1% plan to reduce spending on Remarketing ads due to lack of conversions.

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