TRA’s Marketing Decision Index (MDI), a quarterly primary research study conducted with 820 Marketing Decision Makers between October and December 2022, indicates the three highest marketing spend budgets in Q1 2023 to be in Radio Advertising (14.3%), OOH (12.5%) and English Print Advertising (11.1%).
MDI is a quarterly benchmark report and a global first that provides leading indicators through research with Marketing Decision Makers (MDMs) across 16 Indian cities.
In terms of marketing spend effectiveness in Q4 2022 (scaled on 1 to 10), TRA’s MDI report indicated the top three to be Digital Advertising (7.31), National TV Advertising (7.2) and Local TV Advertising (7.04). The top three areas where Significant Momentum Increase in marketing spends were indicated in Q1 2023 (scaled from 1 to 10) are Digital Advertising (9.24), Public Relations (9.08) and Digital Search (8.84), likely due to high ROI on spends.
The overall Revenue Optimism has moved up from Positive (75.80) in Q4 2022 to Significantly Positive (88.20) in Q1 2023, measured on a diffusion scale where above 50 shows increase and below 50 shows decrease in optimism. The diffusion index for the change in Marketing Budgets are at a High (80.50) in Q1 2023, supporting the Revenue Optimism indicated.
In terms of media effectiveness on an Effectiveness scale (E) of 1 to 10, the top three were Digital Advertising (7.31), National TV Advertising (7.20) and Local TV Advertising (7.04). The highest Momentum (M) on a diffusion scale (with above 5 being positive and below 5 being negative) in spends were indicated in Digital Advertising (9.24),
The highest Mediums’ strengths (M x E) in Q1 2023, scaled 0 to 100 showing ROI, are indicated in Digital Advertising (67.54), followed by Public Relations (62.83), with Digital Search (61.97) at third position.