Global marketing budgets shift to emerging markets
Global marketing budgets are shifting to emerging markets but the US remains an important influence on the industry, according to new research.
The survey by the World Federation of Advertisers found that 60% of its members 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 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.
And 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.
Stephan Loerke, managing director of the World Federation of Advertisers, said: "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."