The news: A majority of companies polled by R.R. Donnelley & Sons (RRD) plan to either increase or maintain their marketing budgets this year.
Adapt or die: The study also found that 66% of the average marketing budget is allocated to digital channels, while 68% of marketers have had to change their digital marketing strategies due to changes in social and digital platforms in the last six months.
Why spend? The reasons cited for increasing or maintaining budgets include gaining a competitive advantage, helping weather the economic storm, maintaining marketing momentum, and having little concern about the impact of a recession. Some 73% of those surveyed see a recession or downturn as an opportunity to gain market share.
Print ascendant? The use of print marketing is rising as more marketers are allocating their budget toward channels such as direct mail, brochures, and signage. The study found that 62% of marketing departments have seen an increase or consistent use of print materials over the past two years, though other recent studies offer up differing figures: