Marketers’ investment plans keep changing around the globe depending on the progress level of different digital platforms. Some platforms do better than others, which helps marketers set their preferences. However, it’s more than just focusing on those youth-oriented or updated platforms; marketers take a lot of other essential aspects into account while making their investment plans.
For this coming year, the digital platform that is topping the charts is the one that is quite well-known around the world. Not surprisingly, it’s TikTok, in which almost 76% of the marketing executives are willing to invest this year. This survey included more than 1700 marketing executives who recorded their responses regarding the platform they will prioritize to increase their investments.
On the other hand, 20% of the marketing executives reported that they would keep the pace of their investments in TikTok steady, and the remaining 4% claimed that they would reduce their investments in this digital platform. As a whole, TikTok has become the digital platform in which most marketers plan to invest more than the last year. The tragedy is that US regulators are observing the TikTok app closely to implement a ban on it. As per the report, 1 in 5 adults in the US uses TikTok daily, while it includes 32% of adults, that is, one-third of the users aged between 18 and 44.
According to last year’s report, YouTube ranked in the second position, and Google secured the sixth position. 57% of the respondents said they would increase their investment in YouTube, while 37% reported keeping their investments in YouTube steady. The remaining 6% claimed they would cut down the investments they make in YouTube. Another research shows that the majority of agencies and marketers in media are planning to uplift their investments in YouTube this year. YouTube is the platform that US users use most widely and will remain the one this year.
Last year, marketers were quite enthusiastic about investing more money in different digital platforms. However, that’s not the case this year, as there are very few platforms where marketers plan to increase their investments. Twitch is one of those few digital platforms where half of the marketers expect to invest this year. It is not a common platform that marketers use for brand engagement. Still, 50% of the respondents plan to increase their investment in this gaming-oriented platform. On the other hand, 11% of marketers expect to reduce their investment in Twitch. It’s pretty exciting as surveys show marketers are interested in investing in social media, gaming, and online videos this year to grow their businesses and boost their sales and revenues.
When it comes to other digital platforms, they are not expected to experience any increase in their investments by any chance. On the other hand, there are 4 platforms among the 13 listed ones in which marketers plan to cut back from.
Another negative forecast is regarding the digital platform “Bing.” Compared to last year, more than thrice of marketers, that is, 35%, are planning to trim their investments compared to only 11% who plan to increase their spending on the search engine. As far as Snapchat is concerned, the Youth is still interested in using it. It’s popular among youngsters, but the chances for marketers to cut down their investment on Snapchat are twice. 37% of the respondents plan to decrease their investment in Snapchat, and only 18% plan to boost their spending.
Meanwhile, the recent actions of Elon Musk are making consumers conscious about using Twitter. It has also caused to piss off a lot of consumers. As a result, the majority of respondents, that is, 28%, intend to decrease their investment in Twitter, while only 19% plan to increase their investment in the platform this year.
Finally, the social media giant, that is, Facebook, faced a hard time in 2022. This year, 30% of the marketers are cutting back their investments in Facebook, while less than one-quarter of the respondents, that is, 23%, are also planning to grow their spending on the platform.
Tabinda has been writing since forever, and it seems that her educational background in Economics, politics, management sciences, and psychology has given her an incredibly deep and comprehensive approach when it comes to display ads and PPC.