Retail marketers expect their digital budgets to rise next year. With that extra money, they’ll be investing more heavily in social media, email, mobile, and referral marketing.
That’s according to a new survey of over 300 retail marketers across the U.S. by Extole, recently reported on by Ayaz Nanji at MarketingProfs. It reveals what retail marketers want to achieve across the funnel; what channels they use for acquisition, retention, conversion, and awareness; and where they’re investing — and pulling back — their budgets this year and next year.
As Nanji writes, the survey found:
- 41% of retail marketers say they have spent more on social media marketing this year than last year
- 32% of marketers surveyed say they have spent more on mobile this year compared with last year
- Referral marketing is in the top three channels for acquisition, retention, awareness, and especially conversion
In addition, retailers revealed what channels aren’t working for them. Says Nanji, “Marketing channels with a significant decline in investment by retailers this year include: Display advertising (28% spent less), content marketing (28%), and paid search (24%).”
Want to find out which channels drive retail success and which ones have fallen out of favor? Download the entire survey report here.