Marketers are planning to give their campaign strategies an overhaul in order to cope with the unfavourable economic climate, new research shows.
A study from the Association of National Advertisers (ANA) reveals that 68 per cent of companies plan to increase their media budgets, while 41 per cent of firms intend to boost their expenditure on innovation, testing and learning.
Some 41 per cent of marketers said they anticipate increasing their spending on word-of-mouth marketing and social networks.
The majority of marketers (73 per cent) said they would ideally like to enact budget increases between three and six months before the end of the recession.
A third (33 per cent) of respondents said they will maintain their promotional activities and innovation budgets throughout the recession.
“The landscape for building brands was jolted by the severity of the economic downturn,” said Bob Liodice, chief executive of the ANA.
“However, it is encouraging to see that marketers are preparing for the rebound with plans for increased media spending.”