With the economy up in the air due to inflation kicking into high gear, war, interest rates rising, and other factors that we can’t control we decided it would be great to see how other marketers are reacting.
And we didn’t want to know how marketers were reacting just in the U.S., we wanted to know on a global scale what businesses of all sizes in all major industries (and for both B2B and B2C) are doing.
So, at my ad agency, NP Digital, we decided to leverage our site traffic to conduct a wide survey so we could see what other marketers are doing and also find out the “why” behind their decisions.
Here’s what we found out.
Let’s look closely at each earned media channel to see how budgets are being reallocated.
68% of companies surveyed said they are increasing their SEO budget. The number 1 response on why they are making this is shift is because they said it provides a higher ROI than paid advertising. Which is true… it just takes longer to see results.
11% said they would maintain their SEO budget going into 2023. The number 1 response on why is because there wasn’t much flexibility with their overall marketing spend due to economic reasons.