Report is a Roadmap for Marketing Investments in 2021
Allocadia, the leader in Marketing Performance Management (MPM), released its inaugural State of Spend benchmark report, highlighting exactly how marketers pivoted their marketing budgets and strategies in the face of the COVID-19 pandemic. Aggregate data from Allocadia’s global customer base — which manages more than $25 billion in budgets using it’s platform — sheds light on current trends and provides a roadmap for marketers to invest dollars wisely in 2021.
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“Knowing the market and the patterns that are emerging during the COVID pandemic is invaluable as companies develop a tentative future based on limited data points; every data point matters.”
New insights for the post-COVID future
In this unpredictable time, companies are scrambling like never before to learn what their competitors are doing — and to keep up with or stay ahead of them. “Marketing budgets are the ultimate expression of strategy, so this isn’t just shifting spend. These are real-time adjustments marketing organizations made to their budgets and plans as the world changed around them,” said Julia Stead, CMO of Allocadia. “Knowing the market and the patterns that are emerging during the COVID pandemic is invaluable as companies develop a tentative future based on limited data points; every data point matters.”
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The inaugural State of Spend is a manifestation of Allocadia’s extensive knowledge of the marketing investment and performance space.
Demand wins this round
A key finding from Allocadia’s report was the discrepancy in how companies actually budgeted in Q2 compared to common sentiments from industry pundits and analysts, who hypothesized that Q2 was the time to focus on brand awareness and perception at the expense of demand programs. Instead, many companies did the opposite, as funding for demand programs increased by 50% —at the expense of 20% cuts in PR budgets and a 16% decrease in brand identity spending.
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