The marketing world loses sleep over budgets
London, June 15 2018, results released today, reveal ‘what’s keeping leading marketeers awake at night.’
The survey, carried out by marketing agency Cherry London, examines the industry’s view of Partnership Marketing whilst at the same time highlighting the areas causing most concern.
Brands and marketing executives are losing most sleep over money, with 62% citing the squeeze on budgets as an issue. At a time when marketing budgets are seeing their lowest growth for two years (IPA Bellweather report) this is perhaps unsurprising.
However what is revealing, is that whilst over 60% of respondents believe their budgets can be maximised through partnership activity, more than half are spending less than 5% on Partnership Marketing. This is despite recognition that partnerships can generate brand love and provide credibility. An incredibly high 79% of respondents, believe that partnership activity can open up new audiences.
Interestingly, distrust of social media is not a major concern, with less than a third citing ‘loss of trust in Facebook and You Tube’ as an issue.
Tamara Gillan, CEO Cherry London said, “Why go it alone, when you can do it with someone else?! Brands that collaborate, and agencies that collaborate, are the winners in today’s tough environment”.
For more information contact:
Sam Wainstein +44781 4004691