News Byte: 2014 Marketing Budgets Will Rise, But Be Stretched Thin

Share this content:
News Byte: 2014 Marketing Budgets Will Rise, But Be Stretched Thin
News Byte: 2014 Marketing Budgets Will Rise, But Be Stretched Thin

Two-fifths of B2C marketers will see budgets increase at an average of 3.4% in 2014. The healthy infusion is supported by success: 77% of senior marketing executives surveyed by Forrester Research said they had met or exceeded their goals in 2013.

But will it be enough? More than half of the 52 marketers who took part in Forrester's Marketing Budget Online Survey said they plan to increase spending on digital methods, and nearly two-thirds of them said they would decrease traditional advertising to fund them. While 20% of their budgets, on average, will go to traditional advertising, 15% will be devoted to consumer response and direct marketing efforts, and 12% will go to digital advertising and marketing.

Only 6% will be used for data analytics—the same portion earmarked for content marketing—and that may fall short, according to Forrester Analyst Tracy Stokes. “You will soon be seeing the consequences of these ever more thinly stretched budgets,” she wrote in a report based on the survey findings. “Marketing leaders will fail to fund innovation and will under-invest in less sexy backend support such as IT and analytics.”

A good number of marketers will be hard-pressed to find the funds for all their planned efforts. The survey found that while B2C companies devoted 10% of revenues to marketing on average last year, a considerable 40% plowed back less than 5% of sales into marketing.

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above