What Are Marketers Evaluating To Determine Where External Budget Dollars Go?
Marketers have a lot on their plate. Now imagine if that plate were their budget and the marketing world just kept piling on new things until the plate, which has a finite capacity, overflowed. No matter how good the stuff on that plate looked marketers can only eat put so much on that plate / budget.
With that said, marketers must constantly evaluate how they will allocate the limited space in their budget for the myriad options available in the online and offline marketing worlds. A report from the folks who put on the eTail conferences each year gives insights into what their attendees were interested in spending externally just this past August. Remember this is external spend with vendors and additional avenues of help. Here is a summary chart.
Now, what does evaluating spend actually mean? Well, it can be one of three things. It could mean that budgets get cut, remain the same or grow. This data set is simply telling us what they are interested in taking a harder look at with regard to getting outside help. If you are an agency or consultant reading this should you be nervous or excited?
Search marketing is topping this list as coming under the greatest scrutiny. With the many marketing options out there which directions are marketers heading with regard to search? Will spend go up? Down? Remain where it is? Will it come in house? What market forces influence this decision? Are marketers going to take money from search budgets to apply to social efforts? What else could influence the level of spend in a search marketing effort?
So many questions and so many readers with answers / opinions. Let’s hear’em.