Marketing Budgets Are Going Up, Now’s The Time To Get Started

Marketing Budgets Are Going Up, Now’s The Time To Get Started
SHARE
THIS


What best describes you?

In this guest post, Steven Hayes (pictured below), vice president of sales for the Asia-Pacific region at Oracle Marketing Cloud, explains why marketers need to take a leaf out of Nike’s book when it comes to embracing digital technology and ‘just do it’.

Steven Hayes

With many businesses facing tighter bottom lines and higher expectations, the tussle for a share of company budget can be fierce, with various departments having to prove ROI down to the last cent.

Despite this competitive environment, marketers are finding themselves in an enviable position, with 61 per cent of marketing professionals expecting their budget to increase over the next 12 months – up from 40 per cent in 2016.

This insight comes from Oracle Australia’s annual survey of industry predictions and trends in the marketing sector, conducted recently at the ADMA Global Forum in Sydney.

Overall, the outlook of marketers is positive. Only 5 per cent of those surveyed said they expect their budget to decrease over the coming 12 months, compared to a year ago when 20 per cent were concerned their department would be on the financial chopping block.

This newfound confidence can be attributed in part to the more personalised and targeted outreach strategies that have increasingly been implemented by savvy marketers across all industries – and boosted ROI in the process.

People-based marketing is one of the buzzwords of the day, being touted as the gold standard of marketing. But even marketers who don’t currently have the capacity to target each customer individually understand that using a blanket approach to reaching their desired audience will no longer cut it.

In order to reach so many individuals across the plethora of devices they use each day, technology will continue to play a growing role in how marketing strategies are rolled out.

Surprisingly, however, although artificial intelligence (AI) is a hot topic at the moment, it is not top of mind for marketers. When asked about their plans for the next 12 months, nearly two-thirds (61 per cent) of respondents indicated social media integration was planned, while less than one-fifth (19 per cent) planned on using AI.

Marketing automation (45 per cent), personalisation, and testing (44 per cent) also featured as focus areas for marketers in the coming 12 months, while predictive analysis (25 per cent) languished towards the bottom of the pile.

When it comes to digital marketing, the advice from Oracle is ‘just get started’. We often find companies want to understand and learn digital marketing before they invest, but that’s not always the best approach.

Today, many companies, including Oracle, allow their customers to run pilot programs or proof-of-concept projects at a low cost. If these programs are successful, the company can convert it to a full production platform, and if not, they can make adjustments to get it right before making the investment. It’s all about building confidence in your team and within your organisation and lowering risk.

For all the challenges that the marketing profession throws up, marketers are right to be optimistic.

The industry is vital for brands that want to connect with current and potential customers. For marketers who are able to take calculated risks, embrace evolving technology, and deliver exciting campaigns, the future is bright.

Please login with linkedin to comment

Latest News

The Advertising ID Consortium Welcomes New Platform Partners
  • Advertising

The Advertising ID Consortium Welcomes New Platform Partners

The Advertising ID Consortium – the open identity solution for the digital advertising ecosystem – has announced new platform partners. Since the Consortium’s announcement in May 2017, the founding members have established a governance framework and product specification that includes an open and standardised cookie and accessible people-based identifiers, delivered in a secure, privacy conscious […]

Marketing Melodies Partners With Spotify-Backed Soundtrack Your Brand
  • Marketing

Marketing Melodies Partners With Spotify-Backed Soundtrack Your Brand

Australian in-store music provider Marketing Melodies has announced an exclusive reseller agreement with Spotify-backed Soundtrack Your Brand for the Australia and New Zealand markets. Founded in Sweden in 2013, Soundtrack Your Brand was developed to kill bad background music. Its flagship solution, Soundtrack Business, is a music streaming platform licensed for commercial and public spaces. The […]

Social Garden Becomes First Bronze Snapchat Certified Partner In Australia
  • Advertising
  • Marketing

Social Garden Becomes First Bronze Snapchat Certified Partner In Australia

Customer acquisition firm Social Garden has become the first business in Australia to achieve Bronze status on Snapchat. Among the new benefits Social Garden will receive as a result of its Bronze status is access to beta versions of Snapchat data tools, such as the Snapchat Conversion Pixel, as well as being among the first […]

Hypetap Appoints Nuffnang’s Chris Morfis As GM
  • Marketing

Hypetap Appoints Nuffnang’s Chris Morfis As GM

Influencer marketing player Hypetap has made its second senior hire in less than a month, appointing Chris Morfis as the company’s general manager. Joining from influencer marketing provider Nuffnang Australia, Morfis will guide Hypetap’s growing team, providing strategic direction to accelerate the company’s growth, as well as leading operations and managing relationships with key partners. Morfis’ appointment will […]

On Air sign in a studio broadcasting via radio, podcast or wireless transmission.
  • Media

ARN Announces Departure Of Content Director & Radio Veteran

Australian Radio Network (ARN) has announced that Charlie Fox, content Director for WSFM and The Edge, and WSFM morning announcer Ron E Sparks, have departed. Fox has been with ARN since 2005, and Sparks joined WSFM in 2002. ARN national content director Duncan Campbell said the departure of Fox and Sparks are part of the […]

OMD Announces New MD For Melbourne
  • Media

OMD Announces New MD For Melbourne

OMD unveils new Melbourne MD, and it certainly wasn't among any of B&T's picks. Not that we were picking, mind you.

Sydney Festival Chooses Brightcove To Enhance Online Video Content
  • Media

Sydney Festival Chooses Brightcove To Enhance Online Video Content

Video cloud service Brightcove has announced that Sydney Festival has selected the platform to improve its user experience through online video content. Brightcove will do so by removing third-party branding and pre-roll ads, as well as adding autoplay functionality, ahead of the event in January. Leveraging the Brightcove video platform to host and publish video […]

Does Your Christmas Marketing Suck?
  • Opinion

Does Your Christmas Marketing Suck?

Remember the old Palmolive soap ad that asked, "Don't wait to be told"? This is sort of similar, albeit sans any suds.

Opinion

by Peter Harris

Peter Harris
Queensland Anti-Porn Crusaders Cop Ad Ban
  • Campaigns

Queensland Anti-Porn Crusaders Cop Ad Ban

We have a strident anti-pornography policy at B&T. Earphones must be worn at all times and strictly no little people.

by B&T Magazine

B&T Magazine
Nature’s Way Celebrates Big Things Little People Do In UCG Videos Via Wavemaker & Storyful
  • Advertising
  • Campaigns
  • Marketing

Nature’s Way Celebrates Big Things Little People Do In UCG Videos Via Wavemaker & Storyful

Health and wellbeing company Nature’s Way is celebrating the achievements of kids in a series of relatable and entertaining online videos that tug at the heart strings of parents. Instead of using actors to tell the brand story of Nature’s Way’s Kids Smart supplement range, Storyful has helped Wavemaker to license user-generated content clips of […]

DEC PR Wins Hisense Account
  • Marketing

DEC PR Wins Hisense Account

Electronics and whitegoods specialist Hisense has announced it has appointed DEC PR to lead its strategic communications remit in the local market, following a competitive tender process. DEC PR will work to support its brand building activities and managing corporate communications. The agency’s work will integrate closely with Hisense’s other marketing partners. Andre Iannuzzi, marketing […]