A study released today by R.R. Donnelley & Sons Company (RRD) found that amid concerns of an economic recession or downturn, organizations see a strategic opportunity to gain market share through increased marketing spend, according to 73% of marketers surveyed. Despite widespread talk about budget cuts, more than half of respondents (54%) expect their organization’s overall marketing budget to increase this year.
Findings from RRD’s Optichannel Opportunity Report, which surveyed 300 in-house marketing decision makers, show many marketers are primed to invest the extra budget in print channels, as social media turmoil complicates the digital landscape. More than two-thirds of respondents agree recent large-scale changes to social platforms have influenced their digital marketing strategy. Of this group, 71% have reallocated budget from digital to direct mail, brochures, signage and other print channels.
“In a time of economic volatility, marketers are embracing programs that reach customers via optimal channels to improve response rates. We’re also seeing a renewed focus on print marketing, like direct mail, as social media turmoil continues to unfold,” said John Pecaric, Head of Operations at RRD. “However, our findings show more than a third of marketers still struggle to track response rates with print channels. While more than half of marketers expect to see budgets increase in 2023, amid ongoing uncertainty, it’s critical that all strategies are backed by data, effective tracking, and reporting to ensure measurable results.”
As a leading global provider of print, marketing, packaging, and supply chain solutions, RRD conducted a comprehensive study of marketers to offer insight into the increasingly complex landscape. Highlights from the study include:
Print is growing – but tracking response rates remains a sticking point
Marketers prefer optichannel for the best engagement
Trending technologies power print marketing into robust engagement tools
details at: https://investor.rrd.com/news/news-details/2023/RRD-Survey-7-in-10-Marketers-View-Economic-Downturn-as-Strategic-Opportunity-to-Gain-Market-Share/default.aspx