‘Winning hearts and minds’: Why businesses are doubling down on brand investment
The number of marketers working for a business focused on brand building doubled versus last year, according to Marketing Week data. What’s driving this shift towards the long term?
The logic suggests that in times of economic turmoil businesses often shift focus towards delivering short-term results to weather the storm. However, many in the industry argue continuing to invest in brand – even in challenging times – is the bedrock for long-term success.
Indeed, Marketing Week’s exclusive Language of Effectiveness 2024 data, supported by Kantar, suggests the importance of brand marketing as a focus for businesses is increasing significantly.
Almost four in ten (38.5%) of the more than 1,200 marketers surveyed say their company’s strategy is focused on brand marketing. Compared to both the 2023 and 2022 editions of the survey, the jump in favour of brand is significant.
Just 14.3% of the 2023 sample said their business puts most strategic focus on brand marketing, similar to the survey results in 2022 (14.9%).
