Australia – Nearly half (43%) of marketing leaders intend to boost their account-based marketing (ABM) budgets, a significant rise from 28% recorded at the same time last year, according to a survey by xGrowth in collaboration with Media Collateral.
The survey reveals a shift in spending sentiment as the economic downturn recedes, with senior marketing leaders across Asia-Pacific ramping up investments in 2024 and signalling plans for further increases in 2025.
The survey highlights a notable shift, with 46% of marketing leaders maintaining their current general marketing budgets—up from 23% last year—while 13% have increased spending, a significant rise from just 4% in the previous year.
Meanwhile, only 31% reported a decrease in spending compared to 58% last year.
“After 18 months of budget cuts driven by economic uncertainty, marketers are signalling a return to growth with increased spending planned for 2025. This positive shift in sentiment suggests confidence in the market’s recovery and the vital role marketing plays in driving business success,” said Shahin Hoda, managing director at xGrowth.
The survey also explored how APAC marketing leaders are leveraging the growth of generative AI and its transformative impact on their marketing strategies.
ABM practitioners increasingly view generative AI as a game-changer. In 2024, over 45% of APAC marketing leaders reported that generative AI has shaped their ABM strategies—a significant increase from 23% in the previous year.
Additionally, 74% of respondents believe AI will simplify their work, marking a significant rise from 47% in 2023. The proportion of those who feel AI delivers better results has also surged, climbing from 24% last year to 47% this year.
The percentage of respondents who believe AI reduces costs has risen sharply from 38% in 2023 to 58% in 2024. Notably, concerns over legal and data security issues have decreased significantly, dropping from 24% last year to 15% this year.
“Marketers are leveraging AI tools to create highly personalised campaigns, analyse data in real-time, and boost efficiency—achieving results that were unimaginable just 18 months ago. Initial concerns about legal and security are fading as marketers embrace AI’s potential,” Hoda explained.
The survey also highlighted the expanding role of generative AI in marketing, with AI-powered content creation—such as blog posts, emails, and social media copy—leading the way at 70%. Personalisation emerged as another key application, cited by 51% of respondents. Additionally, marketers are increasingly leveraging generative AI for campaign planning (28%) and data analysis (24%).
Regarding the adoption outlook for generative AI, 91% of senior marketing leaders anticipate increased use of AI tools within their organisations over the next two years. With only 1.67% expecting a decline, the findings underscore a strong commitment to expanding AI’s role in ABM strategies, solidifying its position as a cornerstone of future marketing initiatives.
