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Companies plan big budget increases for digital marketing

Nielsen’s Global Marketing Report 2022 shows that companies plan to increase the amount of money they spend on digital marketing.

The report showed that social media, online display, online video, and search were the channels forecast to receive the biggest marketing budget increases over the coming year.

Conversely: radio, cinema, print, and TV were the channels set to receive the smallest marketing budget increases.

“Unlike the finite amount of time in a single day, device and platform choices are seemingly infinite,” said Jamie Moldafsky, Nielsen Chief Marketing Officer.

“As consumers toggle between devices and platforms, it’s clear that their attention can be divided. But there’s always a time and place where they focus – and that’s where marketers must be, armed with the right message.”

Digital advertising

Nielsen’s report stated that marketing budgets at companies are set to increase across the board, following a pullback in spend during the height of the Covid pandemic.

“In select digital channels, the planned increase will be as high as 53%,” stated the report.

This is detailed in the graph below, which shows that digital marketing channels are set to feature strongly over the coming year.

Click on the graph to enlarge it.

Brand awareness is important

The Nielsen report also found that brand awareness has never been more important for companies, and their marketing activities will reflect this.

“Global marketers are united in stating that building brand awareness is their top objective,” stated the report.

“Today, amid media fragmentation and sources of brand equity sources evolving, brands need to leverage an array of channels to reach the widest audiences.”

The result is that companies are spending more across social media and online channels, as their customers spend more time online.

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Companies plan big budget increases for digital marketing