Marketers embrace digital transformation amid economic uncertainty

A recent comprehensive survey conducted among marketing professionals within the supply chain industry has unveiled critical insights into the budgeting trends and strategic priorities set for the year 2024. The survey, which included participants from various levels of seniority, highlights the industry’s adaptive strategies in response to global economic challenges and the evolution of digital marketing.

The survey has also brought to light the pressing challenges that marketing teams face, including the pressure to deliver higher sales pipeline growth with reduced budgets and the strategic shift towards more accountable and measurable marketing efforts.

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Moreover, talent shortages have prompted a strategic pivot towards outsourcing, with companies seeking external partners that bring expertise, technology, and the capacity for rapid market deployment.

Key Findings:

A total of 38.7% of marketers anticipate an increase in their budget, with 3.2% expecting a significant increase by more than 10%.
86% of marketers anticipate increasing spend on direct lead-generation activities, and 80% expect to increase spend on video marketing
Over 50% of marketers expect to outsource some of their activities to agencies, citing difficulty in hiring and keeping talents on the team for niche expertise.

Charlie Pesti, CEO of CHARLIE PESTI Agency, notes, “The findings of this survey demonstrate how top marketers can adopt and recalibrate their marketing and PR programs and lean on strategic partnerships to develop and execute novel solutions in a challenging environment.”

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