MUMBAI: Indian client-side marketers are generally optimistic about the business prospects for their brands and will raise their budgets during 2012.
According to a new survey conducted by market research firm Ipsos, 59% of the subcontinent's brand owners believe sales improved in their home market during 2011, while 88% said conditions would get better in 2012.
The optimistic mood is likely to be reflected by an increase in overall adspend, with two-thirds of respondents telling Ipsos they planned to raise their marketing investments this year.
A similar total (67%) also said they would spend more on marketing research.
The research also revealed a strong industry bias towards reallocating budget from traditional to digital media.
In all, 33% of the industry professionals said that social media would prove to be the most effective marketing medium over the next three years, while 13% each cited the online and mobile channels.
Biswarup Banerjee, marketing communications head of Ipsos India, said: "Indian marketers are bullish given the state of the global economy, but they have a strong vote of confidence in the Indian economy, despite uncertainties and many of them even expect their own brands to outperform the industry."
He added: "Development in the digital space will also be a key area for the majority of marketers. Digital agencies are likely to be in demand, to develop social media content."
The Ipsos report also asked survey respondents to select the marketing functions they think they are performing particularly well.
On this question, 84% cited their efforts to understand their target audience, while 73% cited their creative marketing solutions.
Data sourced from Ipsos; additional content by Warc staff