Post by moen on Jan 15, 2024 21:40:02 GMT -6
That's why companies are increasing their marketing budgets for 2024. Check out the breakdown of where and why they will invest. As the calendar turns to the fourth and final quarter of 2023, the season of budgeting and planning for the coming year begins. While talk of a possible recession still looms over many businesses, marketers see plenty of opportunity in 2024 and are putting more money into their budgets to attract and retain customers. A recent Taradel marketing survey found that 94 percent of small businesses plan to increase their marketing budgets in 2024. Gartner research shows similar statistics, with companies planning to keep their marketing budgets in the 9% range after falling to 6.4% in 2021.
Those who see the new year as a new opportunity are much Phone Number List more likely to succeed than those who prepare for the worst and cut marketing budgets to save money. Marketing strategies that companies plan to invest in So where does all this money go and how do businesses see it helping them grow and succeed? Here are the main areas in which companies are investing to maintain and grow their business. SOCIAL MEDIA In 2024, no one will be shocked to learn that companies are planning to invest in social media because it has been a hot topic for many years. In 2022 , companies reported dedicating up to 10-30 percent of their total advertising budget to social media. The key to 2024 will be finding the platforms and types of content that resonate best with your audience. For companies that have yet to find great success with the platform, this may mean spending the first quarter testing different types and tones of content on the platform.
But companies that are already seeing engagement will look to capitalize on that engagement by engaging leads more strategically and investing more in developing content similar to what resonates well with customers. How companies allocate their social media advertising budgets also varies depending on their audience, as each platform attracts a different audience. The most popular advertising platforms for social media spending are Facebook, Instagram, LinkedIn, and TikTok. ADDRESSED MAILING At first glance, the return of direct mail to marketing budgets may seem surprising. But new research shows that direct mail goes hand in hand with online advertising, especially on social media. With so many people in the digital marketing space, companies are looking for ways to stand out and be remembered. Strategic direct mail materials can help amplify messages across other channels to guide customers to conversion and entice them with special offers delivered to their inbox.
Those who see the new year as a new opportunity are much Phone Number List more likely to succeed than those who prepare for the worst and cut marketing budgets to save money. Marketing strategies that companies plan to invest in So where does all this money go and how do businesses see it helping them grow and succeed? Here are the main areas in which companies are investing to maintain and grow their business. SOCIAL MEDIA In 2024, no one will be shocked to learn that companies are planning to invest in social media because it has been a hot topic for many years. In 2022 , companies reported dedicating up to 10-30 percent of their total advertising budget to social media. The key to 2024 will be finding the platforms and types of content that resonate best with your audience. For companies that have yet to find great success with the platform, this may mean spending the first quarter testing different types and tones of content on the platform.
But companies that are already seeing engagement will look to capitalize on that engagement by engaging leads more strategically and investing more in developing content similar to what resonates well with customers. How companies allocate their social media advertising budgets also varies depending on their audience, as each platform attracts a different audience. The most popular advertising platforms for social media spending are Facebook, Instagram, LinkedIn, and TikTok. ADDRESSED MAILING At first glance, the return of direct mail to marketing budgets may seem surprising. But new research shows that direct mail goes hand in hand with online advertising, especially on social media. With so many people in the digital marketing space, companies are looking for ways to stand out and be remembered. Strategic direct mail materials can help amplify messages across other channels to guide customers to conversion and entice them with special offers delivered to their inbox.