For the third year MediaCom, The Irish Times and The Marketing Institute came together to carry out “The Marketing Sentiment Survey” – a measure of marketing decision-makers intentions, expectations and areas of focus for marketing in the year ahead. The research findings were launched at an event on the morning of the 26th February following a survey of 218 Marketing Decision Makers conducted earlier this year.
The key trend was optimism; 45% of marketing decision makers plan to invest more in marketing in 2019, significantly ahead of the figures presented in the first 2017 survey, where only 29% of marketing decision-makers planned to increase their spend.
However, spend as a percentage of business revenue still lags behind EU counterparts at a stagnant 8% compared to 12% in the EU (up from 11% in 2018). A separate research study carried out by MediaCom recently found Ireland has the lowest advertising spend as a percentage of GDP and one of the lowest spend per capita in the EU.
This suggests that there is significant room for growth on advertising spend within the marketing budget and this is reflected in the Marketing Sentiment Survey with 33% of decision makers saying they will be investing more in advertising in 2019.
Where is this budget going to be spent?
The top five channels for further investment are all digital with social media remaining the top channel for increased investment from Irish marketers.
“Strategic Use of Customer Data” is lowest on the list of marketing priorities but has the most noteworthy increase on the previous two surveys, jumping from 8% in 2017 to 25% in 2019.
According to Ian McGrath, Managing Director of MediaCom Ireland and MC of the event; “There are many positives in this year’s survey. Generally marketing decision makers appear upbeat and optimistic with what 2019 has in store for their businesses and for their brands. However, there is still arguably more potential in such an expansive Irish economy for businesses to invest more into marketing to create more customers and increase penetration.”
MediaCom, The Irish Times and The Marketing Institute. (2019). The Marketing Sentiment Survey 2019.
MediaCom. (2019). Irish Advertising Investment: What is wrong with this picture?
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