Global Marketing Budgets to Shift to Emerging Markets
International advertisers still look to the US for best practices
But US marketers fail to pay enough attention to other markets
New York, March 14: Global marketing budgets are shifting to emerging markets but US remains an important influence on the industry.
A survey by the World Federation of Advertisers (WFA) of its members reveals that almost 60% of global marketers are shifting budget to focus on new markets for growth. Nearly 95% think future growth will come from outside the US.
Based on 65 responses from marketers with representing nearly $40bn in global ad spend, the survey found that marketing best practice is increasingly found outside the US. More than 71% of global marketers think that some of the best work is now developed in other markets.
The results have been released as marketers from many of the world’s biggest brand owners gather in New York for the WFA’s Global Marketing Conference on March 14.
The survey found that global marketers still look to the US for best practice in key areas. 43% of those questioned think they can learn a lot from what happens in America. The US stood out as the go-to market for best practice in social media strategies but in other areas of marketing a wide range of different countries have also caught the eye as centres of excellence.
In addition to the US, marketers cited the UK, continental Europe and Australia as beacons of excellence for integrated marketing, Korea, Japan and China attracted attention in mobile and some European markets also stood out for great creative execution.
However, global marketers were critical about the amount of attention being paid by US marketers to what happens beyond their shores. 48.6% pay some attention to what’s going on in the US while 40.5% of marketers pay a lot of attention.
However while 75% of those questioned thought the US could learn a lot from marketers in other countries just 11% think US marketers pay enough attention to what goes on in the rest of the world.
Nevertheless, the survey also found evidence of a global ideas exchange within the world’s biggest companies. Among the US ideas that have found a home beyond the border are social media strategies, shopper marketing and content strategy.
Likewise international ideas that have been imported to the US include integrated marketing communications, events, mobile and ROI initiatives.
Asked about the most impressive marketing campaigns of 2011, respondents cited Red Bull, Samsung, Apple, HP, Mini, Carlsberg and Unilever as well as the Jay Z book launch and the Durex social marketing campaign.
“While the US remains a beacon of best practice, notably in social media, marketers are now seeking ideas from right around the globe. Our survey results highlight the emergence of a new multi-polar world for marketers where best practice can occur in almost any market and where the smartest ideas should be imported and exported around the world,” said Stephan Loerke, Managing Director of the World Federation of Advertisers.