Where South African companies spend their advertising budgets – Download the 2023 report
Broad Media has released its 2023 Marketing Budget and ROI report, which shows that digital advertising is the clear winner for South African businesses.
The 2023 Marketing Budget and ROI report is based on a survey conducted in May 2023.
1,757 respondents took part in the survey, with the report based on the responses from those who work in their company’s marketing department, or are involved in the marketing activities of their company.
Key findings
Several interesting findings are present in the report, first of which is that marketers are almost evenly split on whether their marketing budgets are big enough.
54% stated their annual marketing budget is suitable for their needs, while 43% stated their marketing budgets are too small. 3% then said their marketing budget is too big.
When it came to marketing channel spend and ROI (return on investment), however, the winner was clear: Digital advertising smashes it out of the park.
This is detailed in the graphs below.
Marketing Budgets
South African companies allocate the large majority of their marketing budgets to digital advertising.
Best ROI
Digital advertising provides the best ROI for South African companies by a large margin.
Big spenders
When looking at companies which spend over R1 million per year on marketing, the results were the same.
Digital advertising was by far the top-performer – both in terms of receiving the most budget, and providing companies with the best ROI.
To see the full results, click here to download the 2023 Marketing Budget and ROI report.
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