How B2C Marketers are Spending in 2024
A new study among senior-level B2C marketers was just completed by Stirista, a company that offers data-driven performance marketing.
Among the highlights of this 200-executive survey are:
- Marketers are optimistic. An overwhelming 91% of respondents have a positive outlook on meeting or exceeding marketing goals over the next year.
- Although 81% of marketers have seen revenue growth, they see data quality as one of their biggest challenges.
- The majority of B2C marketers (70%) plan to continue shifting their budget distributions. They believe that digital marketing will continue on its upswing and will invest more in that channel. Social media and mobile spending (78% and 75%, respectively) will also be prime for increased spending.
The Attribution Headache & the Omnichannel Imperative
Although AI may ultimately facilitate better tracking and the ability to attribute sales to specific channels, many of the professionals in the survey still feel that attribution continues to be a challenge.
Most B2C marketers are using more channels — including e-mail, social media, and digital media. They are investing more in mobile and video (OTT).
The average number of channels used by marketers is about four or five, and marketers with mature acquisition strategies are more likely to include video in their mix. The responders are likely to keep social media, email, and digital advertising in-house but outsource partner programs, video, and affiliate marketing.
Social media appears here to stay, with 88% of marketers with successful acquisition strategies reporting that it is highly effective in achieving goals (compared to 44% of all others).
For more about how MULO (multi-location) brands are spending and tracking their marketing budgets in 2024 and beyond, please join us on November 7th for the re-launch of Street Fight LIVE. You’ll hear from brands, agencies, and technology companies and get the insights and data you need to help you better allocate and attribute your own spending!
