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How Effectively Media Investments Made In 2023 Will Result In 2024

How Effectively Media Investments Made In 2023 Will Result In 2024

How Effectively Media Investments Made In 2023 Will Result In 2024

Bullzeye Media Marketing reviews a “Research” and Forecasts the Year For Marketing Agencies Worldwide

Based on the data from the global survey of marketing agencies in 2023, the media investment trends are likely to have several implications for the year 2024. The notable budget and resource allocations increase across various digital media channels suggests a continued shift towards prioritizing online platforms.

Online Video Dominance:

The substantial 66 percent increase in investments in online video indicates its growing importance in marketing strategies. This trend may influence a greater focus on creating and promoting video content across digital platforms in 2024.

Social Media Impact:

The significant net increases in social media stories (64 percent) and video streaming (62 percent) point towards the continued dominance of social media platforms. Marketers are recognizing the effectiveness of these formats, potentially leading to more innovative and engaging social media campaigns in the coming year.

Influencer Marketing and Social Media Content:

With 59 percent and 56 percent increases in budget allocation for influencer content and social media news feeds, respectively, it’s evident that influencer marketing and organic social media content remain critical investment areas. Marketers may continue to leverage influencers and create compelling social media content to connect with their audiences.

Decline in Traditional Media:

The forecasted net decreases in budget allocations for magazines (45 percent), and newspapers (46 percent) signal a continued decline in traditional media. This trend could prompt marketers to explore more digital-centric strategies and platforms.

TV’s Modest Increase:

While most focus is on digital media, the modest increase in TV and TV sponsorship (eight percent) indicates that traditional television still holds some relevance for a segment of marketers. It suggests a nuanced approach where TV advertising might still play a role in specific marketing strategies.

In summary, the data implies a sustained momentum towards digital media in 2024, mainly on online video and social media channels. Marketers are likely to adapt their strategies to align with these trends, allocating resources where there’s a perceived higher return on investment in the rapidly evolving digital world.

Net percentage change of marketing agency budget allocations in media worldwide for 2023 e1707410962683
Net percentage change of marketing agency budget allocations in media worldwide for 2023

Credits: Media Budget Plans Worldwide 2023: Published by  Michele Majidi

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