Two-thirds of B2C and B2B companies are planning to increase their SEO budgets in 2023, according to a new study from NP Digital.
The ‘Marketing Spend Report’ is the latest to find growing optimism among marketers for the next 12 months, with increased spending earmarked for a range of content marketing-related campaigns.
Improving the visibility and rankings of web pages in search engines is a top priority in 2023, as 68% of companies are expecting to increase budgets for SEO.
Content production is also moving into a higher gear, with 83% planning to spend more on content creation across a range of different formats, including videos.
NP Digital CEO Mike Gullaksen said the findings, based on responses from 8,000 professionals worldwide, are evidence that marketing is key to driving growth and engagement.
He added: “The shift towards digital channels and the increasing emphasis on content marketing demonstrate the need for businesses to adapt to the changing landscape of consumer behaviour and preferences.”
The desire to publish more digital content is also having a knock-on effect on traditional channels, with marketers admitting they are likely to allocate fewer funds for TV, radio and print placements.
In contrast, six in 10 companies believe they will increase budgets for advertising on the Google Display Network, which is a collection of over two million websites and apps.
Social media is also taking precedence, with Gen-Z favourite TikTok being seen as having the most potential, with 84% planning to increase their spending on the platform.
B2B marketers still value LinkedIn, though, as 57% are set to increase their budget for the business-focused platform.
One interesting takeaway is that 34% of respondents say their ad spending will decrease on Twitter in 2023, amid fears of how the platform will change with Elon Musk at the helm.
