Industry joy as spend goes up again

Industry joy as spend goes up againThe marketing industry is hailing yet another hike in adspend led by – surprise, surprise – online, although even pure DM budgets inched up again, as the latest Bellwether shows a warm glow of optimism pervading the sector.
The Q3 2014 IPA report reveals marketing budgets were revised up for the eighth consecutive quarter, and to the third highest level in the survey’s history, as companies remain bullish about the business outlook.
The report revealed overall budgets have been revised up a 12.6% during Q3; this has been put down to firms seeking to take advantage of a positive trading environment and bolstering sales with high-profile and targeted marketing campaigns.
The sharpest upward revisions to marketing budgets were made to Internet (up 14.5%); within that, search recorded a net balance increase of 9.4%, which despite being the weakest since the Q4 2013 Bellwether survey, extended the current run of growth to 21 successive quarters.
Direct marketing spend was up 2.1%, although as digital disciplines and DM are virtually inseparable these days.
Advertising, meanwhile, which is mainly TV ads went up 9.2%; in contrast, there were reductions in budgets for sales promotions (-1.1%), market research (-1.7%) and other (-4.7%).
Wunderman client services director Josette James, who is chair of the IPA Customer Experience Group said: “The quarter on quarter increase in direct marketing budgets is a strong indicator to the confidence we are seeing with brands.
“With an increasingly clear focus on future growth through product expansion, platforms and new consumers, brands are definitely feeling braver with budgets but looking for high impact spend or re-engineering of old ways of doing things. This is a scenario I suspect to see increase in momentum over the next 6 months.”

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5 Comments on "Industry joy as spend goes up again"

  1. Industry joy as direct and online marketing spend go up again #directmarketing #digitalmarketing #directmail

  2. RT @DM_editor: Industry joy as direct and online marketing spend go up again #directmarketing #digitalmarketing #di…

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