Meeting objectives is still the number one pressure for marketers today with budgets coming in a close second, according to Starcom’s Media Futures 2014 Forecast.
The results showed a 13% increase in budget pressure from 71% last year to 84% this year causing David Scribner, head of Virgin Mobile, to begin to worry.
“I was a little worried about the increase in the fact that marketers are still worrying about budgets, because that for me feels as though they haven’t got the objectives right.
“Because if you’re worried about going to the CFO and asking for money, then you don’t have long.”
The pressure to meet objectives actually reduced by one percent since last year, from 86% to 85%.
The pressure for new product development has leapt up to 49% from 40% last year, a “significant shift in terms of importance”, Di Richardson from Starcom said.
Embracing change was seen as another pressure point for advertisers with some advertisers mentioning the resistance to change can see “not everyone wanting to come along for the ride”.
Also focusing on what emerging media trends would impact their businesses in the coming year, 44% of advertisers said digital technology would have the most impact, with social media following behind at 36%.
Branded content is expected to have the least amount, with only 5% of advertisers claiming it would have some form of impact.'
The Starcom MediaVest Group and partner AANA presented the findings from the Futures 2014 Forecast this morning along with a panel discussion.
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