61% of Marketers Anticipate Their Spending to Increase ‘Somewhat Significantly’

Some entrepreneurs are bracing for the influence of an financial downturn, however new analysis means that lots of them nonetheless count on to extend their spending all through 2023.

RSW/US not too long ago published its “New 12 months Outlook Report,” and statistics steered that 61% of entrepreneurs count on their advertising spend to extend “considerably considerably” in 2023. Whereas this can be a drop from the 68% of entrepreneurs who stated the identical in regard to 2022, it’s a important enhance from the 41% who thought their spending would rise in 2021.

Because the yr rolls on, entrepreneurs cited key challenges they count on to face within the coming months. Some that topped the listing included issue understanding rising traits, leveraging knowledge, and specializing in buyer retention and acquisition whereas demonstrating a return-on-investment.

Entrepreneurs’ Rising Funding in Content material Advertising

As entrepreneurs look towards investing their funds in varied property and options, earlier analysis signifies that many are particularly wanting towards content marketing.

WordPress VIP released its “Content material Issues 2023 Report,” and knowledge steered that almost all entrepreneurs (58.4%) count on their content material advertising budgets to rise in 2023. In consequence, nearly all of respondents (35.1%) count on to spend between 11% and 30% of their advertising funds on content material. About 16.4% claimed that they already allocate between 31% and 50% of their funds towards this initiative.

“Regardless of world financial uncertainty, advertising budgets are anticipated to extend once more subsequent yr, proving the important worth of content material advertising for organizational success, even in shaky occasions,” wrote the authors of the report.