A study released this week by R.R. Donnelley & Sons Company (RRD –Chicago, Illinois) found that amid concerns of an economic recession or downturn, most organizations still see a strategic opportunity to gain market share through increased spending, according to 73% of marketers surveyed. In fact, more than half of respondents (54%) expect their organization’s overall marketing budget to increase this year. As a leading global provider of print, marketing, packaging, and supply-chain solutions, RRD conducted the comprehensive study to offer insights into today’s increasingly complex marketing landscape.
Findings from RRD’s Optichannel Opportunity Report, which surveyed 300 in-house marketing decision makers, revealed that many marketers are primed to invest the extra budget in print channels, as social media turmoil complicates the digital landscape. More than two-thirds of respondents agreed that recent large-scale changes to social media platforms have influenced their digital marketing strategy. Most importantly, of this group, 71% have reallocated their budgets from digital to direct mail, brochures, signage, and other print channels.
“In a time of economic volatility, marketers are embracing programs that reach customers via optimal channels to improve response rates. We’re also seeing a renewed focus on print marketing, like direct mail, as social media turmoil continues to unfold,” said John Pecaric, Head of Operations at RRD. “However, our findings show more than a third of marketers still struggle to track response and ROI with print channels. While more than half of marketers expect to see budgets increase in 2023, amid ongoing uncertainty, it’s critical that all strategies are backed by data, effective tracking and reporting, to ensure measurable results.”
Highlights from the study include:
• Print is growing – but tracking response rates remains an issue
• Marketers still prefer optichannel for the best engagement
• Trending technologies can transform print marketing into robust engagement tools
To read the full Optichannel Opportunity Report, please visit: www.rrd.com/optichannel-opportunity.