Radio to take 14% share of Q1 advertising budget
Highest mediums’ strengths (M x E) are digital advertising, PR and digital search
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TRA's MDI is a quarterly benchmark report and a global first that provides leading indicators through research with MDMs spread over 16 Indian cities. The full report has detailed analysis data on marketing budget allocations, marketing budgets, media spend effectiveness and media budget momentum and revenue optimism
The three highest marketing spend in Q1 2023 budgets in radio advertising (14.3 per cent), OOH (12.5 per cent) and English print advertising (11.1 per cent), reveals TRA's Marketing Decision Index (MDI), a quarterly primary research study conducted with 820 marketing decision makers between October and December 2022.
In terms of marketing spend effectiveness in Q4 2022 (scaled on 1 to 10), the report indicated the top three will be digital advertising (7.31), national TV advertising (7.2) and local TV advertising (7.04).
The top three areas where Significant Momentum Increase in marketing spends were indicated in Q1 2023 (scaled from 1 to 10) are digital advertising (9.24), public relations (9.08) and digital search (8.84), likely due to high ROI on spends.
Talking to Bizz Buzz, N Chandramouli, CEO, TRA Research, says, "TRA's Marketing Decision Index was conceptualized given that marketing heads make extremely complex decisions as they lack collective data on how the others are planning their spends."
Such a report will help decision-makers have more confidence in their marketing spend decision, he said. This quarterly report is based on interviews with 800+ Marketing Decision Makers (MDMs) across 16 cities.
The report gives collective views of MDMs with detailed analysis on marketing budget allocations, marketing budgets, media spend effectiveness and media budget momentum and revenue optimism.
TRA's MDI is a quarterly benchmark report and a global first that provides leading indicators through research with MDMs spread over 16 Indian cities. The full report has detailed analysis data on marketing budget allocations, marketing budgets, media spend effectiveness and media budget momentum and revenue optimism.
The overall revenue optimism has moved up from positive (75.80) in Q4 2022 to significantly positive (88.20) in Q1 2023, measured on a diffusion scale where above 50 shows increase and below 50 shows decrease in optimism. The diffusion index for the change in marketing budgets are at a high (80.50) in Q1 2023, supporting the revenue optimism indicated.
The highest Momentum (M) on a diffusion scale (with above five being positive and below five negative) in spends were indicated in digital advertising (9.24),
The highest Mediums' strengths (M x E) in Q1 2023, scaled 0 to 100 showing ROI, are indicated in digital advertising (67.54), followed by public relations (62.83) with digital search (61.97) at the third position.
The report is meant to provide MDMs with timely, relevant and factual data to help in applied marketing spend decisions using national, zonal and city benchmarks.
