This week's compilation of stats and facts paints a picture of the marketing landscape from a brand perspective. The gist: Digital is a priority from both a marketing and technology standpoint, but marketers aren't exactly confident in their abilities.
1. Midsize businesses spend about 7 to 8 percent of their gross revenue on marketing and advertising. Startups and small businesses usually allocate between 2 and 3 percent of revenue to marketing and advertising. For large brands in a competitive industry, that number goes to about 20 percent of revenue for marketing.
2. In a study that listed America's top advertisers by spend, AT&T, Verizon, and Chevrolet topped the list, respectively.
3. P&G CEO A.G. Lafley sent a shot across the digital marketing bow by telling shareholders in 2013 that 35 percent its U.S. marketing budget was being spent on digital marketing.
4. The glass is half-full. Fifty percent of brands have a content marketing strategy.
5. Brand marketers are not confident in their digital ability. Only 48 percent feel highly proficient in digital marketing. High-performing companies are twice as likely to rate their company as highly proficient in digital marketing (50 percent) than lower-performing companies (25 percent).
6. Sixty percent of brands will invest more in digital marketing technology this year.
7. In a study that measured the best-percieved brands of 2013, Amazon, Ford, and Subway topped the list, respectively.
8. Each year, 24/7 Wall St. identifies 10 important brands sold in America that it predicts will disappear before the following year rolls around. The brands listed to disapear before 2014 hit were: J.C. Penney, Nook, Martha Stewart Living Magazine, LivingSocial, Volvo, Olympus, WNBA, Leap Wireless, Mitsubishi Motors, and Road & Truck.
9. While most large brands engage in social media today, many find themselves overwhelmed by the number of conversations taking place without proper resources, training, or tools. Brands manage an average of 178 social media accounts.
10. Brand digital ad spending in the first half of 2013 grew 18 percent year over year.
11. Mobile is especially hot, with brand spend soaring 145 percent to $3 billion in the first half of 2013, up from $1.2 billion in the same period last year.
12. When asked to rank their companies’ social business maturity on a scale of one to 10, more than half of brand marketers gave a score of three or less. Only 31 percent gave a rating of four to six, and a mere 17 percent ranked their companies at seven or higher.
13. Businesses that are ahead of the competition don’t view social as just a platform or tool. Rather, social is integrated into many functions in the business, including marketing, sales, and operations, and it’s part of everyday decision-making as well, according to the study. In fact, 65 percent of respondents said they use social business tools to understand market shifts, 45 percent turn to them for better visibility into operations, and 45 percent use them to identify internal talent.
14. A whopping 86 percent of brands plan to increase video ad spend in 2014.
15. Where are these video budgest coming from? Thirty-one percent of brands said they would pull from broadcast TV (up from 19 percent last year), while 10 percent said they would draw from their cable budgets (down from 13 percent last year).