NEW YORK: Nearly 60% of global marketers have begun to shift budgets to emerging markets, according to research from The World Federation of Advertisers.
The group surveyed 65 of its members for the study with the goal of understating how information and best practices flow between the US and emerging markets. Nearly 90% of those surveyed said they believe future growth will come from outside the US.
“The global economy is being reshaped around emerging markets, and this means marketers are focusing on new consumers in countries where they can increase sales far more dramatically than may be possible in developed markets like the US and Europe," said Will Gilroy, director of communications at the organization.
However, even with the increasing focus on developing regions, many marketers still look to the US for best practices, particularly for social media strategy. Of the WFA members surveyed, 43% said they believe they can learn a lot from what happens in the US.
"The US is a well-established ad market,” Gilroy said. "It's sophisticated, and consumers can be first to adopt technologies in new numbers."
Outside of the US, marketers said they often look to Europe, the UK, and Australia for integrated marketing expertise; Europe for creative execution; and Korea, Japan, and China for mobile.
Many respondents said they believe US marketers should look at practices in other countries, as well. Only 11% of those surveyed said US marketers pay enough attention to the goings on in other regions of the world.