New Delhi: Globally, around 66% of marketers expect their budget to increase next year, while 71 per cent of Indian marketers expect an increase in their budget, according to a report on Strategies and Challenges of Marketers .
Marketers in countries like France see it at 75% and in the US at 68%, digital marketing agency DCMN has released its growth guide. The research was carried out by the Census on behalf of DCMN in October this year.
DCMN, headquartered in Berlin, started its operations in India in 2016 and has worked with brands such as Truecaller, Upgrade and Faasos.
The survey covered nearly 600 in-house marketers in the US, UK, France, Netherlands, Germany and India.
Research shows that 62% of Indian marketers focus more on long-term branding efforts, compared to 33% for performance-oriented goals. This is in line with global figures, 65% versus 31%. It said that while 71 per cent of Indian marketers expect the budget to increase, 23% have fallen, it is likely to remain the same and 6% said it will decrease.
It added that a majority of Indian respondents, around 93 per cent, plan to increase their spending on marketing agencies over the next 12 months. In addition, the budget will also be directed towards experimenting with new formats and advertising channels. It said that apart from digital advertising, the three channels Indian marketers are planning to focus on and invest in are mobile advertising, podcasts and linear TV.
In India, mobile is most popular for marketers with 63% saying they plan to invest in this channel.
The new year is also likely to come with new challenges. As advertising campaigns become more complex, marketers in India are concerned about the management and reconciliation of large amounts of data across channels.
Maintaining privacy rules comes in second, as policies targeting the future of iOS (Apple’s operating system) and cookies are set to reshape the world of marketing.
Bindu Balakrishnan, Country Head, India at DCMN, said, “In India and other countries around the world, we are seeing branding efforts top the market for marketers. It is also clear that brands still have a huge following in Linear TV. I am confident that mobile advertising and TV will be some of the most popular channels for marketers to invest in next year.”
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