For the IPA Bellwether report, 300 UK marketing professionals were surveyed.
As per the report, 25.6% companies made upward revisions to their marketing budgets in Q3 2021. Compared to this, 12.8% of those surveyed revised their budget downwards. In terms of net balance observed by category of spend, main media advertising benefitted with a net balance of 8.6%.
For direct marketing it was 5.6%, sales promotions at 4% and market research at 0.7%. PR and events were in the negative at -1.8% and -3.2% respectively.
A net balance of 37.5% of marketers are more optimistic about their company now than they were three months ago. Additionally, the GDP forecasts for this year and the next have been revised from 6% and 5% to 6.6% and 5.1% respectively.
[3 minute read]