The latest IPA Bellwether Report shows an upturn in confidence amongst marketers in the first quarter of 2009. Overall, budgets have been reduced but the rate of decline is slowing and marketers have been less likely to reduce their online spends compared to other media, with online now accounting for roughly 10% of all budgets.
Marketing confidence was at an all time low in the last quarter of 2008 where only 5% of companies believed their prospects had improved. That has now risen to 14% of companies, and is reflected in the fact that 11% of companies are now increasing marketing spend compared to only 7% in the last quarter of 2008.
Says Moray MacLennan, IPA President, “This data supports the view that the bottom of the market has been reached. It will be a long road to full recovery, but this maybe the turning point. It’s good to see a graph going in the right direction for a change.”
The Bellwether Report is researched and published by Markit Economics on behalf of the IPA. It features original data drawn from a panel of around 300 UK marketing professionals and provides a key indicator of the health of the economy. The first report was published on the 17th July 2000. Historical data is available on request to firstname.lastname@example.org
. Topline figures and industry reaction are also available on the IPA website
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