How to Make Your Marketing Budget Stretch Further

A recent spend survey by Gartner CMO revealed a sobering trend that marketing budgets have shrunk to a mere 7.7% of overall company revenue in 2024. This is a 15% decline from pre-pandemic levels and paints a picture of how marketing departments are working with tighter budgets. 

But, this era of “less” doesn’t have to mean less impact.

Let’s delve into the survey’s findings and explore how Citizen can help you craft a winning paid media strategy despite budget constraints.

With budgets shrinking, CMOs are focusing on maximising return on investment (ROI). This is reflected in the rise of paid media spending with a 27.9% portion of the budget, allowing for more targeted audience reach compared to broader brand awareness campaigns.

The survey also sheds light on the top spending marketing channels. In the digital realm, search (13.6%), social advertising (12.2%), and digital display advertising (10.7%) reign supreme. While offline channels do still hold value, with event marketing (17.1%), sponsorships (16.4%), and TV (16%) attracting significant investment with the larger corporates.

With paid media on the rise, here is why you might want to consider increasing your paid media budget.

Targeted reach

It’s important to remember to laser focus on your ideal customer. For example, social media ads target users by demographics, interests, and even online behaviour, so you want to ensure your message reaches the right people.

Measurable results

You need to see what’s working and what’s not. Track results such as clicks and conversions to refine campaigns and optimise your budget for better outcomes.

Brand awareness boost

Paid ads allow you to get seen by potential customers. Search engine marketing puts your brand at the top of relevant searches, while social media ads showcase your offerings to a wider audience.

Cut through the noise 

Made your brand stand out from the competition. Paid ads appear in high-visibility locations on search engines, social media platforms, and other websites. Having this strategic placement increases the chances of your brand message being seen by potential customers actively searching for the solutions you offer.

Faster results

Get results quicker. Paid media offers a faster path to achieving marketing goals. Drive traffic, generate leads, and close sales more rapidly.

Control & scalability

You can take charge of your marketing through paid media by setting budgets, targeting demographics, and adjusting campaigns all based on data. You can tailor your efforts, scaling them up or down as needed.

While there are advantages to increasing paid media spend, it’s important to weigh them against your budget and overall marketing strategy. A balanced approach that incorporates both paid and organic tactics is often the most successful.

Do you want to optimise your paid media but are not sure how?

Citizen can help you navigate this new ‘era of less’ by leveraging data analytics to identify the most effective channels for your target audience. This ensures you will be getting the most out of your paid media spend. 

Our team of experts possesses in-depth knowledge of various paid media channels, from search engine marketing (SEM) to social media advertising. We can help you create targeted campaigns that resonate with your audience and deliver measurable results.

We focus on maximising ROI. Working closely with you to develop a paid media strategy that aligns with your budget and marketing goals. 

Take Supercar Rooms as an example. Supercar Rooms are a high-end garage and seller of luxury cars. They approached us for help in increasing the revenue on the servicing side of the business. Through SEO we were able to gain Supercar Rooms a spike of traffic on the website by 90% and through PPC we were able to gain Supercar Rooms 20+ brand new customers as a result of our PPC efforts, which meant a 400% ROI.

In today’s crowded marketplace, marketing isn’t a luxury, it’s a lifeline! Smart marketing attracts customers, builds brand loyalty, and fuels growth. It’s the bridge between your product or services and the people who need it. Skip marketing, and you risk becoming invisible, missing out on sales, and letting the competition steal your thunder.

By partnering with us here at Citizen, you can make the most of your marketing budget, even in this time of limited resources. We will help you reach the right audience, with the right message, at the right time, ensuring your marketing efforts continue to drive growth for your business.

Remember, marketing remains crucial for business success. By focusing on strategic allocation and partnering with experts you can stretch your budget further and achieve your marketing goals.Want to download the Gartner Report?