Marketing Budgets are Up, so are CTV and Social Ad Spending

marketing budgets

Marketers are planning on spending more money on advertisements this year. According to a survey of CPG brand marketers conducted by NCSolutions (NCS) in the fourth quarter of 2021, many marketers report that, the further away we get from the effects of the COVID-​19 pandemic on society, the more confident they are to spend money on advertising. As such, 45% of marketers say that their budgets were increased during the second half of 2021. And they’re even more optimistic for 2022. 55% of marketers say that they anticipate increasing their budgets. 15% expect their marketing budgets to rise by at least 21%! Only 18% believe that their budget will decrease this year. So, what do marketers plan to spend their budgets on?

How Marketers Plan to Spend Their Increased Marketing Budgets

CTV

The primary channel NCSolutions says that marketers will spending their marketing budgets on this year is CTV. 71% of marketers say that they’re planning on increasing their CTV advertising budgets this year. Why CTV?

  • CTV viewership is booming, especially compared to linear TV
  • CTV can offer more granular metrics than linear, with precise metrics on who saw which ads and what actions were taken”
  • It offers “incremental reach” or “the ability to reach viewers they are missing on linear TV, where many specific audience segments (e.g., men 18–24) are hard to find”

Should your clients follow suit and consider allocating more of their marketing budgets to CTV? You can check out their target audiences’ profiles on AudienceSCAN on AdMall by SalesFuel to find out. There, you’ll be able to see what percentage of this audience took action because of various types of TV ads. You can also see:

  • The average amount of time the audience spends watching TV on a daily basis
  • What types of programming they enjoy watching
  • What subscription or streaming services they use for their TV programming
  • And more!

Social Media

Another advertising method that marketers plan to spend their marketing budgets on this year is social media. According to NCSolutions, 59% of marketers plan to increase their social media ad spending this year. Here are a few reasons why:

  • Social has universal appeal
  • It can be used to establish one-​on-​one connections with consumers
  • The pandemic influenced more people to be active on digital channels. Many marketers believe that many pandemic-​influenced habits are here to stay

Additionally, according to a recent SalesFuel blog based on a survey from CMO, social is set to grow within the next five years. “Marketers agree that social media spend will continue to increase at an even faster pace in the next five years, reaching 24% of marketing budgets.”

There are very few organizations that don’t use and/​or benefit from social media advertising. That is, as long as they know how to use it. AudienceSCAN on AdMall by SalesFuel can help you and your client master social media advertising. Check out their target audiences’ profiles to see:

  • Which platforms their target customers are the most active on
  • What percentage of these consumers took action based on social media ads within the last year
  • Which devices they may be accessing their social channels from

Conclusion

Chances are, many of your clients’ marketing budgets have increased this year. With 2022 already halfway over, they may be eager to find ways to use their entire budget to maintain their increased funding. Instead of blindly throwing money at different marketing tactics, you can step in and direct them to success. Will that include CTV and social media ads? Do your research to find out!

Photo by Jason Briscoe

Rachel Cagle

Rachel Cagle

Rachel is a Research Analyst, specializing in audience intelligence, at SalesFuel. She also helps to maintain the major accounts and co-​op intelligence databases. As the holder of a Bachelors degree in English from The Ohio State University, Rachel helps the rest of the SalesFuel team with their writing needs.