Undecided 12.20% Factors contributing to increased investment To gain a bit more insight, we asked those business leaders who were increasing their budgets to indicate reasons why they were doing so. Here’s what they had to say: factors impacting increased digital marketing spend 2024 What does this mean? Despite the economic wobble, 59% of business leaders saw significant business growth in 2023, prompting them to continue their digital marketing without pause in 2024. Seemingly following Trevin’s earlier advice, 56% of business leaders are investing more money into their .
As we see the light at the end of
The tunnel in 2024, companies are C Level Executive List prepared to reinvest in their digital strategies and those who don’t will likely see a widening gap between themselves and their competitors. Dan Varno, WebFX’s Lead Sr. Web Strategy Consultant Source data: Plan to invest more money in digital marketing in 2024 53.20% Plan to invest.Seen a negative business . The same amount in digital marketing in 2024 23.00% Plan to invest less money in digital marketing in 2024 6.60% Don’t plan to invest in digital marketing in 2024 5.00% digital marketing after seeing an increased return on investment (ROI). Meanwhile, 55% of business .
Leaders are also branching
Out and investing in new tools and Phone Number HK channels like artificial intelligence (AI). Source data Overall business growth requires a larger digital marketing budget 59.77% Seeing increased digital marketing ROI 56.02% Investments in new digital marketing tools like AI 55.64% Previously cut digital marketing spend and lost sales/revenue, so re-investing in 2024 14.66% Other 0.75% Factors contributing to decreased investment Next, we asked business leaders who were decreasing their 2024 digital marketing budgets to tell us more about why they were doing so. factors leading to decreased digital marketing spend 2024 What does this mean?
