Marketing budgets continue shrink around the world according to the September Warc Global Marketing Index (GMI). Marketers in the Americas are the only to record positive growth, while Asia-Pacific showed some improvement, up 3.1 points to a score of 49.1, as did Europe, up 3.9 points to 44.8. Still, budgets in both regions remain below the threshold level and are therefore still declining.
Continuing a pattern observed by the index for several months, marketing budgets devoted to online (including and excluding mobile) channels continue to increase, while traditional media budgets remain on the decline.
Contrary to the overall decline in marketing budgets, the other components of the headline GMI were in positive territory in September. Trading conditions saw a small increase, while staffing levels fell slightly though remaining positive.
These results helped improve the headline GMI index, all regions improved, led by the Americas. After 4 consecutive months of declining scores, the headline GMI for the Asia-Pacific region rebounded, and in Europe, the headline GMI crossed the 50-point threshold (50.2) for the first time since May.
This report does not tell us anything new, what it does do is reinforce the fact that traditional forms of marketing newspapers, radio, and even TV will continue to decline in the face of mobile, and internet marketing, and this is where portals, franchises, and agencies should be spending their money.