Financial Promoter’s Post

Our MD Ian was asked to provide his thoughts on the latest Bellwether report by LBBonline - Little Black Book. Check out the article below for Ian's insights, alongside other marketing industry leaders. 👇 📑 👀 #marketing #thoughtleadership #marketingagency

The latest Bellwether report builds on the positive sentiment from Q1's report. Read the perspective of industry leaders (and me!) on what the sharpest rise in UK marketing budgets in a decade means to them

From this week's Week in Charts: UK marketing budgets were largely frozen during Q3 2024, according to the latest IPA (Institute of Practitioners in Advertising) Bellwether report, bringing to an end 13 consecutive quarters of sustained budget increases. However, video budgets registered their strongest growth since Q4 2022. The chart below shows the net balance of UK marketers who said they increased their budgets over the last three years. Sign up to the newsletter to receive the weekly insights: https://lnkd.in/eYxP8zy3

The latest IPA Bellwether shows a level of confidence returning as marketing spend predictions continue to rise. A confidence building from the cautious optimism we saw in Q1 as agencies began to invest again in senior hires to lay the pathway for growth. Thanks LBB (Little Black Book) for asking us to contribute to this overview of current sentiment. https://lnkd.in/eAq3tqd3

"With only one week left in the fiscal year, it looks like the budget deficit for the federal government for Fiscal Year 2024 is going to come in at about $1.9 trillion, which is 6.7% of GDP. To put this in historical perspective, we know of no other year in US history where in the absence of a major full-mobilization war (like World War I or II) or a major recession and its immediate aftermath when the budget deficit was so large." Read more in the latest Wesbury Weekly Outlook here > https://lnkd.in/eVZAmEzK Brian Wesbury #useconomy #budgetdeficit #economicanalysis #recession

Encouraging to see UK marketing budget growth hit a new high in Q2 2024 IPA (Institute of Practitioners in Advertising) Bellwether Report, with UK companies upwardly revising their marketing budgets at the strongest rate in over a decade. Rising from +9.4% in Q1 to +15.9% in Q2, the net balance of UK businesses that expanded their total marketing budgets was at its highest level since the first quarter of 2014. With the election out the way (in the UK at least), there is more certainty ahead and the mood amongst businesses is improving. The latest report provides a much more positive outlook than it has felt of late, with upward revisions made to every main category. https://lnkd.in/eeEtzBAV #growth #marketing #bellwether

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The latest IPA Bellwether Report offers a detailed look at the UK marketing landscape in Q3 2024, showing a significant pause in total marketing budgets. With economic uncertainty surrounding the Autumn Budget, many businesses have opted for caution, leading to a net balance of 0.0% between those increasing and decreasing their marketing spend, down from +15.9% in Q2. However, direct marketing continues to shine, outperforming other channels and demonstrating its value in a volatile environment. https://lnkd.in/ddu462zk

Have you ever wondered how elastic your advertising CPA is? Here’s how you can test it 👇 One of my clients is a national chain with locations across the U.S. We bucket out our campaigns by region and recently increased spend substantially. What happened next was a bit odd.. CPM, CTR, and CPC all stayed exactly the same, even though cost increased 42%. CPA however increased 12%. Here’s what I’m going to do next: We’re going to conduct a Scale-test. This is a geo-holdout type test that holds a control group at a constant level of spend while significantly increasing spend in the test group. This will allow us to measure how much we can increase spend before iCPA increases. To see how elastic our CPAs are to our average daily budget. If you want to run a Scale-test for your own business I’d recommend looking into a tool like Stella | Growth Intelligence. I’ll let you know how it goes 🫡 #marketing #advertising #incrementality

One of your clients has doubled turnover to just under £8m, you must have spent so much on advertising!!!! No we didn't actually. Average spend including our fees is about £5k per month. That's £60k. Now I admit that might seem a lot but it's 0.8% of turnover. Most marketers would recommend a minimum spend of 10% of turnover, that's £750K!! At Your Marketing Department, we promised no bonkers budgets because our belief is that success comes from being considered about marketing, not just chucking everything out there, spending loads of money & hoping it sticks!! #marketingconsultancy #marketingbudgets #SMEmarketing #yourmarketingdepartment