Bellwether sees healthy Q3 – but uncertain outlook
Marketing budgets in the UK were revised upwards in the third quarter, according to the report, with a net 3.4% of respondents reporting an increase in spend. For the ‘all other’ marketing category, which includes market research alongside activities including PR and sponsorship, the equivalent figure was 1.5% – the first signs of growth for the category in four years.
Twenty-one per cent of the companies surveyed revised their budgets upwards, while only 17% reported a reduction.
But executives were significantly less positive about near-term prospects for the industry than they were three months ago, and only “modestly optimistic” about their own business’s prospects.
IPA president Nicola Mendelsohn (pictured) encouraged companies to remain “as upbeat as possible” to meet the challenges of the uncertain financial environment.
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1 Comment
David Wood, Iris Associates
14 years ago
Today’s IPA Bellwether report isn’t all music to marketers’ ears but does suggest opportunity for greater creative invention with the promise of more marketing budget. Even the simple ROI ratio suggests money spent on marketing does generate a return. More brands should commit to increasing their marketing spend, and give their agencies and partners more scope to invest this budget on both tried and tested methods, and more inventive approaches. Then, through this true collaboration the potential for sustained and dramatic business growth (which in turn unlocks even more budget for marketing) can be realised. Even a conservative increase in marketing budgets can be a catalyst for building a successful brand. David Wood, Iris Associates
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