Confidence returning to Irish Marketing
In January 2016, we spoke to 100 Decision Makers working in the marketing sector in Ireland. We asked them about their investment in 2015, their plans for 2016 and their ambitions for the business year ahead. The results below illustrate how confidence has returned to the market and that strategic planning (particularly in tech and data) are key areas of focus in the year ahead.
28% of Irish Marketers believe their company will strengthen significantly, more confident in their company's own ability than their industries, with only 16% having confidence that their industry will strengthen significantly. It is also interesting to note that no one believes consumer confidence will weaken, with 73% believing it will strength somewhat in 2016.
In the past decade, digital channels and tools have empowered customers, while value saving offers have incentivised them to switch between brands. As a result, it is unsurprising that customer relationship, loyalty, user experience, brand and digital strategy are rated at the highest levels of importance for Irish marketers.
Ignite continues to work with clients to provide consumer insight alongside an understanding of their brand experience. This in turn informs our clients' brand and digital strategies. A key element of this is data analysis.
Data, data everywhere
The topic of big data has dominated the marketing world over the last few years and more than half of all those surveyed agreed that Data Analytics is very important to their business.
Ignite Research works closely with our data team within Core Media made up of a qualified team of three data scientists, with fascinating backgrounds and experience from beyond the marketing industry. We are deliberately fusing the worlds of marketing, mathematics and science to expand our horizons and enrich our decision making.
Strategy & Planning
From 2008, many marketing departments were acting in response to the ever changing market - cutting prices, reducing budgets, and fighting fires. While the need to stay agile and responsive remains, 2015 provided more time for marketing leaders to consider their strategy and develop long term plans.
In 2015, almost 9 in 10 Marketers invested time and resources into strategic planning, marking a return to understanding the consumer market, developing strong brand strategies and setting long-term goals. There was also a focus on learning new skills and sharing knowledge, with 83% of Marketers investing in training and 79% investing in events.
Everything is now digital
Overall, the Irish marketing sector will invest more in 2016 across various areas. Very few will decrease their budgets, with direct mail and trade programmes receiving cuts from 11-13% of Irish marketing departments. Digital continues to receive the most attention in 2016, with 63% of decision makers claiming they will invest more this year. This is followed by 48% stating they will invest more in strategy and planning.
Many of the solutions we work with clients on are rooted in truths and technology. The true behaviour of consumers - their motivations, attitudes and brand usage - and the increased role technology plays in their every day life. We are utilising digital tools to provide more insight into Irish consumers allowing us to work closely with clients to develop their strategic plans for the future.
In 2016, there will be a growing interest in customer and market data, the development of smart technical solution and most importantly, the thinking and planning which will help grow businesses. With an increased level of confidence across the Irish marketing sector, we can look forward to the opportunities available to us all in 2016.
To find out more about how we can help your business, get in touch or read some of our most recent reports: