71% plan to tighten budgets and be selective on purchases

SheerID, a specialist in identity verification for commerce, has unveiled the findings of its survey of Gen Z consumers.

Fielded by Centiment on behalf of SheerID, the survey sought to gauge Gen Z’s feelings on the economy, better understand their purchasing preferences and how brands can meet the current needs of this influential cohort. The survey also explored the role that exclusive offers and rewards play in driving shopping behaviour. Respondents included a total of 1,761...

Global martech spend will surpass $215bn by 2027

Industry analyst firm Forrester has published a Global Martech Software Forecast, 2023-2027, which gives a five-year forecast of growth for global martech spending.

Forresters's forecast examines six categories of marketing technology software: experience delivery, marketing automation, marketing resource management, marketing performance management, customer analytics and customer data management software.

In the report, Forrester predicts that global spending on...

Brands spent a £71bn on influencer ads in five years

Over the past years, influencers have become one of the top choices for social media marketers, providing brands an opportunity to reach millions of potential users practically overnight. The rising popularity of influencers has boosted the total spending in this market to record highs.

According to data presented by OnlyAccounts.io, brands have spent a whopping $90bn (£71bn) on influencer ads in the past five years.

Ad Spending in the Influencer Market Skyrocketed by...

60% of SMB’s 2023 marketing budgets to be slashed or remain static

A pile of £20 notes.

New data from unified customer platform Klaviyo has revealed that UK SMBs will be focusing on acquisition, despite cuts to budgets.

67% of UK SMB’s main priority will be to acquire new customers in 2023*, despite the cost of acquiring being up to five times more expensive than retaining existing customers. 

However, with almost 60% of respondents reporting their marketing budgets will remain static or be slashed or marketing budgets being cut or remaining static...

Advertiser spend on TV and social media is twice as high as daily consumption

A couple holding hands while watching TV.

Advertiser spend on TV and social media is highly inflated in relation to daily consumption. 

This is according to analysis of advertising spend forecasts of 100 worldwide markets by marketing intelligence service WARC, and the results of a survey by GWI of more than 715,000 consumers.

The analysis found that, as of the first quarter of 2021, social media now attracts more investment from advertisers than linear TV for the first time. However, both media draw far...