Marketers are breaking out their checkbooks in an effort to build brand awareness. A recently released study reveals that 56% of marketing professionals worldwide plan to increase their spending on brand awareness over the next 12 months. Meanwhile, another 27% of marketers plan to hold steady on spending for bran building, according to the August study conducted by InsightExpress on behalf of e-Marketer.
Analyzing responses from worldwide readers of eMarketer;s Daily Newsletter and visitors to eMarketer.co, the survey showed that investment in brand awareness will be especially strong in Latin American and Asia-Pacific regions, with 59% and 60.6% of marketers respectively saying they anticipate spending more on brand-related activities. The nation least likely to see an increase in brand awareness investment was Canada, but even there a majority of marketing professionals (51%) plan to increase their spend.
"Brand awareness was a higher priority for eMarketer's audience than demand generation, global business expansion efforts or spending on events- none of which attract a majority to increase spending," e-Marketer said. The study found that 42% of marketers plan to invest more in demand generation, while 35% will increase spending on global business expansion. Nearly 27% expect to devote more dollars to events.
"Overall, the findings suggest that digital display spending, a major component of online branding activities, has a rosy future as marketers look to increase awareness in the commuting 12 months," eMarketer reported.
Article published in Advantages Magazine November 2014 Issue