Irish companies to increase marketing spending during challenging 2017

Social media has been established as the go-to for advertisers...

Irish companies to increase marketing spending during challenging 2017

Peter Morrison AP/Press Association Images

Over one third of Irish companies plan to spend more on marketing as they face what is likely to be a tough year for many businesses.

Of these companies, 79% plan to invest in their website or e-commerce - while 49% plan to invest more in advertising according to the data gathered by MediaCom Ireland and The Irish Times.

It reports that on average Irish firms are spending just 7% of annual revenues on marketing activity - this is below an average of 10% in the US and the UK.

74% plan to advertise across social media - it is the most popular form. It's followed by 39% using search engines and a further 39% advertising with print and online news publishers.

Commenting on the research, Peter McPartlin, CEO of MediaCom Ireland said, "The research points to continued growth in overall marketing budgets but there is a changing focus by decision-makers on new priorities and different communications channels – not all of which are the expected ones."

Eimear Moran, Media Solutions Director, The Irish Times, added "As a media publisher, we wanted to understand exactly where our commercial focus should be and what support and innovative solutions we can provide to marketers in the coming year."

This research was conducted by iReach using their large online panel of business people across small, medium and large enterprises, including government and semi-states. It was based on over 200 responses.