Marketers believe performance budgets most likely to increase
Senior marketers believe their budget for performance marketing is most likely to be revised upwards in the next 12 months. Nearly half (44%) of the senior marketers surveyed believe the percentage of the budget assigned to performance will increase.
By comparison, just over a quarter (28%) say the proportion of their budget spent on brand marketing will increase in the next 12 months. The majority (59%) say it is likely to stay the same, while 13% say it is likely to decrease.
The marketers surveyed say marketing technology is the second most-likely budget area to be increased. Around two in five (41%) anticipate this will be revised upwards in the next year.
With inflationary pressures, budgets remain under strain. Indeed, four in 10 marketers report meeting with finance more often than in previous years to discuss their budget, while 56% say they are meeting the same amount.
Over a third (35%) also report finance teams are challenging decision-making on marketing investment more versus previous years.
Fear of ‘greenwashing’ puts marketers off sustainability projects
Almost half (49%) of marketers are wary of working on sustainability projects in case the work is accused of ‘greenwashing’, finds research from the Chartered Institute of Marketing (CIM).
Despite this, there are growing expectations among consumers that companies will communicate their work on sustainability issues. Around two-thirds (63%) of consumers expect companies to be more vocal about the sustainability of their products and services.
As a result, a large proportion of marketers have done work in the area. Over the past five years 76% of marketers have engaged in sustainability work. Nearly half (45%) report feeling under pressure to communicate their company’s or client’s sustainability credentials.
At present, only two in five marketers report their company has publicly-available sustainability pledges.
“Marketers need to use their unique skill sets to influence, change behaviours, drive innovation and build communities where collective action makes a real difference,” says CIM chief executive Chris Daly.
Source: Chartered Institute of Marketing
Most UK shoppers buy alcohol-free drinks alongside alcohol
An overwhelming majority (99%) of UK shoppers who have bought low- or no-alcohol drinks over the past year have also purchased alcohol, according to data from Kantar.
Separate research from Kantar finds almost half (47%) of UK adults are switching between alcoholic and alcohol-free drinks at the same occasion. Around two-fifths of UK adults say it’s because they want to moderate their drinking.
The research was shared by retailer Waitrose in partnership with drinks maker Diageo. Waitrose reports it has seen sales of no- and low-alcohol beverages increase by 20% over the past year.
Research commissioned by Diageo finds seven in 10 UK adults want to be able to find these products more easily while shopping
Four in 10 Twitter users now interested in using a competitor
Over four in 10 (41%) Twitter users say they are open to using a competitor service, after the platform rebranded to X. However, just 6% say they have started using Meta’s rival service Threads.
There is overwhelming negativity towards the rebrand to X, made by owner Elon Musk. Of those surveyed, 68% dislike the new X logo, while 20% say they are confused by it.
However, among Twitter users who use the platform for multiple hours a day, 34% say they like the logo.
Confidence in Musk has fallen though. In December 2022, following the billionaire’s acquisition of the platform, 40% of users surveyed were confident he could bring positive change to Twitter. Now just 25% believe this.
Majority of brands and agencies want ‘more adventurous’ ads
The vast majority (81%) of brands and agencies say they want advertising to be ‘more adventurous’.
The research, from payments platform Bango, also finds that, at present, many advertising professionals do not feel equipped to deliver this. Six in 10 (60%) say finding the right audiences for their advertising online has ‘never been more difficult’.
To help remedy this, 83% report actively exploring new sources of data for targeting ads.