3 in 4 brands cut marketing budgets post COVID in India: Report – National Herald

“The survey findings portray a clear gap between their business goals and the tools they leverage to achieve them. In a post pandemic environment, it is vital for brands to quickly realign objectives, measure effectiveness and lead through digital transformation.” said Karthik Venkatakrishnan, Regional Leader, Marketing and Consumer Intelligence, GfK.

Nearly 43 percent of brands and marketers in the Asia-Pacific region are still finding ways to measure and optimize business while only 30 percent brands consider themselves as a ‘game changer’ or ‘champion’ leading through digital transformation, the findings showed.

Since the pandemic outbreak, 73 percent have reduced their marketing budgets in the Asia-Pacific.

While 56 percent said digital transformation is increasingly seen as an important KPI (key performance indicators) to achieve their goals, 53 percent agreed there is more focus on driving short term sales.

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