2023 Media Budgets flash survey results
WFA and Ebiquity have partnered on this Flash Survey to generate insights into the 2023 media budgeting cycles and the expected impact of recessionary market conditions. Assessing the intentions of 43 multinational companies - the sample included five of the world’s top 10 advertisers by spend, which collectively invest more than $44bn in advertising.
Marketing and advertising budgets are coming under increasing pressure and heavy scrutiny from finance directors in the volatile and unpredictable 2022 marketplace. Nevertheless, some of the world’s biggest brands remain committed to maintaining planned investment despite the threat of recession in many markets.
What it covers:
- Regional differences
- Shift to short-termism
- Increasing flexibility
As brands are required to achieve more with less in 2023 to optimise the value of their investments, it makes sense to review expenditure and cut ineffective and wasteful spend first. Sustaining investment is one thing, but there is a risk to long-term brand health by over-investing at the bottom of the purchase funnel. It is a natural instinct to want to see immediate results from media investment but the longer-term trade off needs to be weighed carefully. It becomes more expensive to re-build brand credentials once they have slipped.”