Budgets on the up says new Bellwether report
UK marketing budgets are continuing to increase, according to the most recent Bellwether Report.
The Q3 Report, which was conducted by NTC Research on behalf of the IPA, found that throughout the UK client spend has been steadily increasing, though shifting away from mainstream media and into direct marketing.
Despite this slight shift, however, media ad spend has continued to pick up throughout the quarter. Internet marketing has also enjoyed a general increase, with an improved number of companies spending more than 10 per cent of their marketing budget online, while new product launches have seen sales promotion spend also increase.
While as a whole marketing budgets have been on the increase the most recent report did show a slight dip in some marketing sectors, such as PR and sponsorship.
Stephen Woodford, chief executive of WCRS and president of the IPA said: “This is an extremely encouraging report and the best we’ve ever seen in the third quarter, which is usually the time for end of year budget readjustments. It shows there is underlying good profitability, although we’re beginning to see higher interest rates.”