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- 35% of marketers said their marketing budgets were decreasing, the slump, however, shows signs of recovery in the past week
- On the contrary, 36% increasing spend on marketing technology while 40% of marketers chose to maintain the same budgets for martech spending
- ‘Content and experience’ and ‘data’ are the top two technologies marketing leaders are keen on purchasing
- The least preferred technologies were ‘Social and relationships’ and ‘Management’
We’ve been tracking six core marketing trends since May 1st to identify industry dynamics and project marketing leaders’ thoughts about their budgets, marketing technology spend preferences and more.
There have been some remarkable shifts since the first report was released. Read on to derive some exciting insights.
Marketing budgets overall see a recovering uptick
As the global recession continues to surge, the figures mentioned below reinstate the downward movement trend for marketing budgets. However, if you observe the graph shared below closely, you will see a recovering trend in marketing budgets towards May 20th.
Here’s what marketers had to say about it:
- 35% of marketers said their marketing budgets were decreasing
- 20% of marketers said their marketing budgets were increasing
- 44% of marketers said their marketing budgets were staying the same
On the contrary: More marketers are increasing spend on marketing technology
As per the seven day rolling average results of our benchmark survey, 37% of marketers were increasing their spends on marketing technology. This showed a 3% rise as compared to our previous data set released earlier this month.
- 22% decreasing spend on marketing technology
- 36% increasing spend on marketing technology
- 40% maintaining the same spend on marketing technology
Content and experience champions marketers’ interest
The latest sequence of overall rankings shows that ‘content and experience’ and ‘data’ are the top two technologies. However, commerce and sales climbed one position ranking fourth while technology related to social and relationships slipped one position to rank fifth. Management oriented technology continues to stay at the bottom of the marketing leaders’ stacks.
- Content & Experience
- Advertising & Promotion
- Commerce & Sales
- Social & Relationships
Marketers’ technology purchase preferences: Segmented view
We further dug into each of these segments to derive a seven-day rolling average which is as follows:
- 21.4% chose Content & Experience
- 21% chose Data
- 17.3% chose Commerce & Sales
- 17% chose Advertising & Promotion
- 14.8% chose Social & Relationships
- 8.2% chose Management
ClickZ readers’ top picks for the week
Here are our five most viewed articles this week:
- Three steps to prepare for the post-COVID-19 business world
- MTA is dead: Why marketers should adopt agile marketing strategies
- Marketing strategies during – and after – Coronavirus
- Key insights: Agile marketing adoption, when data doesn’t sing with CX, opportunities lost, ecommerce rises again
- The COVID-19 effect on the marketing world
Our latest Peer Network briefing with Cardlytics had lots of interesting pointers about big shifts in consumer behaviour as the world continues to spin. Read on to find out what those are.