1,757 respondents took part in the survey, with the report based on the responses from those who work in their company’s marketing department, or are involved in the marketing activities of their company.Several interesting findings are present in the report, first of which is that marketers are almost evenly split on whether their marketing budgets are big enough.
54% stated their annual marketing budget is suitable for their needs, while 43% stated their marketing budgets are too small. 3% then said their marketing budget is too big. When it came to marketing channel spend and ROI , however, the winner was clear: Digital advertising smashes it out of the park.South African companies allocate the large majority of their marketing budgets to digital advertising.Big spenders
When looking at companies which spend over R1 million per year on marketing, the results were the same. Digital advertising was by far the top-performer – both in terms of receiving the most budget, and providing companies with the best ROI.
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Where South African companies spend their advertising budgets – Download the 2023 report[Promoted] Broad Media has released its 2023 Marketing Budget and ROI report, which shows that digital advertising is the clear winner for South African businesses.
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