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UK Marketers Grin (More) and Bear It
UK marketing spend fell for the ninth quarter running in Q4, according to the IPA's regular Bellwether survey. However the report says budget cuts were the smallest in two years and optimism about the financial outlook was at its highest for five years.
Around 35% of firms surveyed see improved prospects, consistent with growing confidence in the ongoing economic recovery - results underline the UK's emergence from recession in the final quarter of last year. In addition, the IPA says the average budget set for 2010 is higher than the average spend in 2009.
Online ad budgets were revised upwards for the second quarter running, and direct marketing budgets upards for the first time since Q2 2007. Marketing spend was down across the remaining areas including main media, and the 'All Other' category which includes MR.
Rory Sutherland, IPA President, Vice-Chairman, Ogilvy Group UK, says the findings show that the picture painted by the previous Bellwether Report was not a false dawn, and that direct and digital marketing activities seem to be leading the recovery.
Andy Viner, Head of Media at new report sponsors BDO LLP, comments: 'Marketing budgets in 2010 are now set to grow, with companies re-thinking their budget allocation, for example, the spend in areas such as online advertising are due to increase significantly. Unsurprisingly, companies are continuing to seek cost effective and flexible options where the return on investment can be measured.'
The report is researched and published by Markit Economics on behalf of the IPA, and is based on data from a panel of around 300 UK marketing professionals. The first report was published on the 17th July 2000.
Web site www.ipa.co.uk .
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