How will the year ahead shape up?
MediaCom’s Marketing Sentiment Survey is a timely measure of marketing decision-makers intentions, expectations and areas of focus for marketing in the year ahead. Now in its third year, this research gauge the sentiment of the people who shape Irish marketing budgets.
10 Key Takeaways from this year’s Marketing Sentiment Survey
#1 Irish business will invest more in marketing in 2019: Almost half, 45%, of all Marketing Decision Makers plan to invest more in marketing in 2019.
#2 Annual revenue spent on marketing: 8% is the average percentage of annual revenue spent on marketing, in line with the 2018 figures. This is higher for larger companies, but still lags other international markets.
#3 The majority of marketing budgets are signed off by the CEO / MD: 60% of marketing budgets are signed off by the CEO / MD in Irish businesses.
#4 The top three areas for further investment: 45% plan to invest more in the websites of the businesses and/or brands, 39% will invest more in their branding and 33% say they will be investing more in advertising in 2019.
#5 The top five channels for further investment are digital: 56% will invest more in social media and remains as top channel for increased investment from Irish marketers, investment in digital video is forecasted to grow significantly to 53% in 2019, 50% of marketers plan to spend more in Search, 37% in Content Marketing and 23% in Programmatic Display Advertising.
#6 Driving brand awareness remains Irish marketers top priority: The top priorities are increasing brand awareness (53%), improving brand positioning / differentiation (52%) and improving sales conversion (47%).
#7 Strategic Use of Customer Data: 25% of companies said that this would be a priority in 2019, up from 14% in 2018.
#8 Trusted environments are top of mind: 90% believe it is important to advertise with trusted media organisations.
#9 The level of skills and expertise in the marketplace: 44% of marketing decision-makers claimed to be currently experiencing some skills gaps in their marketing. Training and recruitment are the top two solutions to closing these gaps.
#10 The impact of Brexit: 37% of marketers say their plans will be negatively impacted by Brexit in 2019.
Ian Mc Grath, Managing Director MediaCom said: “There are many positives in this year’s survey. Generally marketing decision-makers appear upbeat and optimistic with what 2019 has in store for their businesses and their brands. However, there is still arguably more potential in such a buoyant Irish economy for businesses to invest more into marketing to create more customers and increase penetration.”