Broadcast TV, radio, print, billboards, and posters will see the biggest marketing budget cuts.
According to a survey by the Incorporated Society of British Advertisers (ISBA) and media investment analyst Ebiquity, 40% advertisers are cutting expenditure for their overall offline media formats.
A third of advertisers are going to focus on digital formats like paid search, social channels, podcasts, music streaming, and digital screens. Another 30% said that they intend to focus on brand-building campaigns next year. Over 50% of respondents are expected to spend more on services such as ITVX, All 4, and connect TVs like Samsung.
Additionally, marketing strategies will take on a short-term approach and tight deadlines. This short-term flexibility will be ideal to launch campaigns with quick bursts of brand marketing, as the need may arise.
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[3 minute read]