Investment in digital has helped wider UK ad spend rebound from a two-year low.
According to the latest Bellwether report from the Institute of Practitioners in Advertising (IPA), 23% of marketers said they had higher spending plans for overall marketing activity in the second quarter of the year. Elsewhere, 17% said they had lowered budgets, which results in a net balance of +6.5%.
The figure was an increase in the 5% net score reported in Q1 of 2018, which had been the lowest since Q1 2016, however despite some signs of a bounce back it’s still the second lowest reading to have come back in the past two years.
The IPA’s quarterly report, which features original data drawn from a panel of around 300 UK marketing professionals from the UK’s top 1000, firms has also upwardly revised its UK ad spend forecast for 2018 – increasing it to around 1.1% from its prediction of 0.8% last quarter.
UK marketers were found to have revised their internet budgets up to their joint strongest levels in over a decade. A net balance of 22.7% of marketers reported upward revisions to their digital budgets. The level is not only up from Q1’s reading of 8.7%, but is also the highest it’s been since Q3 2007.
Main media advertising – which includes TV, radio and cinema – also showed more bullish growth than last quarter. While still not as high as digital the net balance was positive overall with 4.9% of marketers saying they were upping spend in these mediums.
Source: The Drum
If you want to make sure your using your marketing budget to its full potential then
give our team a call on 02921 320 200 or email at [email protected]