According to the study “The Voice of the Marketer 2024”, 41% of respondents believe that investments in the sector should increase
The marketing market is optimistic for the coming year. The sector’s good eyes were presented by Warc’s new report, “The Voice of the Marketer 2024”, which found that 61% of marketing professionals expect business to be better in 2024 and 41% of them believe that marketing budgets will increase .
Despite the optimism, the survey also showed that 64% of more than a thousand respondents indicated that the economic recession will be one of the main impacts on marketing strategies in 2024 and 41% highlighted that inflation and the cost of living crisis will be the main challenge for the next 12 months.
A significant takeaway from our analysis is that while marketers are concerned about the impact of an economic recession, there is also a sense of optimism regarding the business climate and marketing budgets for 2024,” said Isabel Cleaver, senior analyst from WARC.
With global investment in marketing expected to increase 8.2% in 2024 and surpass the US$1 billion mark, the study found that the market trend will continue to be investment in digital channels and that marketers are planning to increase investments in social media, online video and mobile devices.
According to Warc, TikTok and YouTube are the platforms that are expected to receive the biggest increases in marketing spending in 2024 and, on the other hand, the controversies surrounding X (formerly Twitter) following the billionaire’s purchase of the platform Elon Musk impacted the perception of 21% of professionals who should reduce investments in the network.
Furthermore, the survey also confirmed that confidence in the metaversion has also declined significantly, and although 47% of marketers said they expected to increase investment in the digital world in 2023, only 11% expect to do so next year.
