The latest IPA Bellwether report – the IPA’s quarterly survey of the marketing directors of 300 UK based companies as to their projected advertising spend – predicts a much more positive picture for advertising than we have seen for several years.
Marketing spend was revised higher for the third successive quarter in Q2 (March-June) 2013 and the total of the surveyed marketing directors predicting an increase in marketing spend as against those pre dicing a reduction gave a postitive balance of 7.3%. That is the highest net balance of companies predicting an increase in marketing spend over those predicting a reduction for six years.
It is a positive step, and consistent with other encouraging factors, such as the strengthening UK economy, rather than a leap forward.
The positive outlook reported was mainly driven by internet marketing budgets being increased.
The reporting of increased marketing budgets reflected the increase confidence clients feel in their own financial prospects with 43% of companies responding to say that they felt more positively about their own prospects than in previous years.
There is not always a direct connection between predictions for the advertising market and script and production flow for APA members but we hope that this significantly positive news will translate into increased work for APA members.