If you’re planning your 2020 marketing budget, there are a lot of trends you should be considering.
As a paid media agency, we’re already planning our marketing budgets for 2020. We’re also starting those conversations with our clients. It’s a time-intensive process for all of us. The cycle of making projections, pitching, and deliberating can take months before a final budget is approved. We invest all of that time because we want to make the most informed, executable plan as possible. We have no chance of hitting lofty 2020 goals without this process.
When it comes to paid search, the calculations are much simpler. Google and Microsoft are the two main players and online advertisers have grown up with their ad platforms. Thus, budgeting for year-over-year cost/click increases in paid search has become routine for many companies.
However, paid social is not as simple. With emerging players, like Quora, and increasing ad types in platforms like Pinterest and LinkedIn, it’s harder to decide where to allocate budget, how to reach your target audience, and when to expand into additional paid social platforms.
That’s why we started surveying brands and agencies on their plans for paid social investments and publish an annual report. We share our findings with the industry to help fellow marketers survive the budgeting season. The infographic below highlights some of this year’s most interesting statistics (all compared to 2018).
We aim to make the annual budgeting process easier by giving our readers a glimpse into what other advertisers plan to spend. Every business has different considerations to make, but we find these survey results are helpful in getting the process started!
For more insights on how to choose the right paid social platforms for your brand and what other advertisers plan to spend, check out our 2020 Paid Social Planning Kit, which includes this year’s State of Paid Social report along with 9 other paid social resources.