Some 49% of business leaders are planning to increase marketing budget in 2019, according to research by MHR Analytics.
The Data Surge Report, conducted by Censuswide on behalf of MHR Analytics, surveyed 200 business leaders from medium and large businesses.
The study aimed to find where organisations are expecting budget increases and how companies will use data to plan for economic challenges in the coming year.
Currently data has some influence in a quarter of businesses’ decision-making. Around 22% use data in product development while 16% reference it to understand business information.
Nick Felton, SVP at MHR Analytics said the survey results were no surprise due to unparalleled changes in both consumer spending and digital transformation.
“An increase in marketing is proven to increase your customer base and therefore improve profits,” said Felton. “But only if marketing and sales activities are properly analysed and based on sound data about what works and what doesn’t, and what is worth the investment.”
