Good news for marketing

Two pieces of good news for the marketing industry this week:

Firstly marketers have revised their budgets up in the first quarter of the year according to the latest IPA Bellwether report

And secondly, this trend is expected to continue as a result of the snap General Election called this week

The Bellwether reports a four and a half year high with a net balance of 12 per cent of companies saying that marketing budgets would increase during the first quarter of 2017. The outlook also remains positive with 26 per cent of companies signalling marketing budget growth for the coming year.

Almost a third of companies surveyed also reported an improvement in their financial prospects, compared with the 19 per cent that thought things would be worse during the quarter. The net balance – up 14 per cent – is an improvement from 11 per cent recorded in Q4 2016.

Whilst almost all media performed well, direct marketing looked buoyant with a net balance of five per cent. This is positive given the recent negativity that has surrounded direct mail particularly the recent rulings by the ICO on charity data protection infringements and signals just how important direct marketing remains as part of the modern marketing mix.

Moreover, research shows that increased marketing activity and General Elections go hand-in-hand as a result of rising consumer engagement across the board  - consequently, with an expected election on 8th June we can expect marketing budgets to remain healthy into Q3 of this year.