Majority of marketers plan to spend 60% budget on performance marketing campaigns: InMobi

InMobi’s Marketing in the New Normal report explores how marketers are embracing the disruption to repurpose their core marketing strategies

e4m by Dipali Banka
Updated: Aug 26, 2020 1:41 PM
inmobi

The impact of COVID-19 has accelerated digital adoption amongst consumers and marketers. Focus and budgets are shifting to outcome-based marketing. In fact, according to InMobi’s Marketing in the New Normal- India and Southeast Asia: 2020 Report, majority marketers plan to spend 60% of their budgets on performance marketing campaigns with linkage to ROI. And over two-thirds of marketers will increase their digital advertising budgets due to the pandemic and shifting consumer behaviour.

“India is likely to see over 33% growth in digital ad spending forecast from 2020 and 2021 and around over 38% growth in mobile ad spending forecast from 2020 and 2021. Social media and Video will attract bulk of mobile spends”, says the report. 87% of marketers are likely to increase their investments on in-App advertising by up to 40%. Spends are slated to almost double on in-app advertising in the future.

The report which is based on analysis of data received from a survey conducted, amongst senior marketing leaders in India and Southeast Asia, explores how marketers are embracing the disruption to repurpose their core marketing strategies that align with the new normal way of marketing.

Talking about shift in brand advertising, the report says “most marketers (60% of them) are allocating less than 40% of their total in-app advertising budget to brand initiatives”.  This significant shift showcases more ad dollars now moving to outcome-based advertising. “What’s interesting to note is that 12% of marketers are willing to spend 80-100% of their budgets to performance campaigns, while no one is willing to do that for branding campaigns,” says the report.

The survey also finds that over 40% of marketers find their organizations still in the early stages of Digital Marketing Maturity (DMM). This leaves them unprepared to tackle the post-COVID world, giving them a chance to grow. “Organizations in different phases of their Digital Marketing Maturity have different priorities. As you progress through the stages of the DMM, marketing objectives become more specific and tend to link back to the organization's KPIs,” says the report.

Acquiring new customers while keeping existing ones engaged has become the primary objective for marketers in the region. “Marketers agree that building the right omnichannel customer experience and accessing real-time consumer data is a critical factor to achieving their goals,” says the report talking about the key strategies to achieve the marketing objectives.

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