30% of advertisers are expecting their budgets to be larger in 2023 than in 2022, according to a survey by Advertiser Perceptions.
The survey also showed that only 37% believe the macroeconomic climate will improve in Q1 2023.
- 54% are expecting that their 2023 budgets will be the same size as 2022, with 16% expecting their budgets to shrink this year.
- 38% of advertisers are changing their focus this year from customer acquisition to increasing the lifetime value of existing customers.
- 65% of advertisers expect to shift their budgets in 2023 to focus on higher-performing marketing channels.
- Advertisers are now expected to spend less on social media and connected TV advertising which is a negative sign for tech companies like Google, Meta, and Netflix, which rely on those advertising.
