Study also showed that marketers are planning to increase investments in social media
Warc’s new report, The Voice of the Marketer 2024, showed that 61% of marketing professionals surveyed by the study are optimistic, in addition to hoping that business will be better.
With global marketing investment forecast to increase 8.2% in 2024, reaching US$1 trillion for the first time, according to Warc Media, the report illustrates the trend of continued investment in digital channels.
The study showed that marketers are planning to increase investments in social media, online video and mobile devices, with the expectation that spending will remain the same or decrease across traditional channels such as print, cinema and TV.
TikTok and YouTube are the platforms expected to see the biggest increases in marketing spend in 2024. On the other hand, the many controversies surrounding X (formerly Twitter) have seriously affected perceptions of the company among marketers.
A third of marketers (31%) expect to reduce investments in X in 2024 – the largest reduction seen in the last three years.
Trust in the metaversion has also decreased significantly. While nearly half (47%) of marketers said they expect to increase investment in the metaversion in 2023, only a tenth (11%) expect to do so in the next year.
The Voice of the Marketer 2024 heard from 1,400 marketers around the world.
(Credit: Photo by Alessio Zaccaria on Unsplash)
