Function Point’s Post

Great news for the #creativeindustry! The latest IPA Bellwether report reveals that UK #marketingbudgets have surged by the highest levels in a decade, reflecting a “brightening economy” and falling inflation. 📈 🔹 A net balance of 15.9% of companies reported increased budgets in Q2, up from 9.4% in Q1. 🔹 Main media budgets, including video and audio, returned to growth with a 3.5% increase. 🔹 Events and #directmarketing continue to flourish, showing consistent growth quarter over quarter. What does this mean? Increased confidence and investment in your #marketingstrategy can lead to more innovative campaigns and stronger #brandpositioning. 🌟 💬Share your thoughts! Read the full article 📲 https://hubs.li/Q02HkFVT0

Marketing budgets in the UK have hit their highest growth in a decade, reflecting a stronger economy and lower inflation. When companies allocate more funds to marketing, it indicates they are optimistic about future growth and are willing to invest in brand visibility and customer engagement. This boost in marketing spend can lead to more innovative campaigns, greater market competition, and ultimately, better choices for consumers. #MarketingGrowth #Confidence #Economy

The Q2 2024 IPA (Institute of Practitioners in Advertising) Bellwether Report cites the highest revision of marketing budgets in a decade, and the second highest in almost a quarter of a century. 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. The net balance has registered in positive territory in each of the past 13 quarters, signalling a sustained period of growth in UK marketing spend. “This is a refreshing change from the previous quarters. Even with some political uncertainties, UK companies have been feeling upbeat thanks to a stronger economy, lower inflation, and the hope of interest rate cuts.” - Bill Doris, VP Analytics, EMEA at EssenceMediacom, & IPA Media Research Advisory Group Chair #bellweatherreport Read the full article via the Creativebrief platform: https://lnkd.in/eSP4WmwS

Interesting read this morning, I know that this has been a challenging year for many. How are you finding the current climate for marketing spend? Are you seeing a pause or continued growth in your business? The Q3 IPA Bellwether Report reveals a temporary pause in UK marketing budget growth due to uncertainty around the Autumn Budget. However, PR, events, and main media advertising are showing strong growth, and adspend forecasts for 2024 and 2025 have been revised upward. Experts believe this is a brief pause, with optimism for a rebound once the economic outlook becomes clearer. Drop a comment below—we’d love to hear your thoughts! Romy Jones Ange Hough Abby Bell Liam Dale Gee Vinton To be kept up to date on the market and hear about new roles, follow us at ThePlaceToBe #MarketingBudget #PR #Event #AdSpend #Forecasts #Marketing #MarketingRecruitment

📈Feeling the strain of the UK's volatile economy? You're not alone. 💼 As budgets tighten and uncertainty grows across all industries, many brands scale back on marketing spend. However, this is exactly the time when investing in marketing is crucial for businesses to thrive. 💡 Learn how maintaining budgets can boost consumer trust, increase market share, and achieve cost efficiencies amidst economic uncertainty in our latest blog post: https://lnkd.in/eEpyPa6Q #b2bmarketing #marketing #emergingtech #gamification #digitalmarketing #socialmedia #blog

💡Navigate economic uncertainty with confidence by investing in your marketing. Find out why it's key to long-term success for your business in our newest blog post: https://lnkd.in/eSnCW-yB

Good news... UK marketing budgets have increased by the highest levels in a decade. The latest quarterly IPA Bellwether report reveals a significant uplift in marketing budgets across all main categories, the strongest upward revision since the first quarter of 2014. Interesting to see that events continue to be the main area of marketing budget growth, up 17.2%. Read more at: Marketing Week https://lnkd.in/e_CQyuF5 #MarketingBudgets #EventMarketing

It’s great to see the notable surge in marketing budgets, especially for events and experiential marketing, which saw a strong net balance of +17.2%. Our forecast at We Are Collider reflects this positive trend, showing a similar growth trajectory with over 30% increase in revenues expected in the next 12 months. Brands are clearly tapping into the undeniable value of in-person engagements and immersive experiences that truly connect. 📊 With companies gearing up for growth and the economy showing signs of improvement, now is the perfect time to leverage these opportunities and create unforgettable brand experiences. For more insights and to see how we can help you leverage this momentum, visit our site: https://wearecollider.com #BrandExperience #Storytelling #BehaviouralScience #Experiential #Events

Events are expected to be the main area of marketing budget growth for 2024/25, with a robust net balance of 18.7% of businesses anticipating an uplift in spend compared to the previous financial year. Though main media advertising budgets have declined for the first time in three quarters, while overall marketing budgets have experienced an upturn amid an improving UK economy. Companies are still looking to be as cost-saving as possible but it is not all doom and gloom. Q2 is proving to be busy in the event marketing space and many clients are looking to hire top talent as they expand their teams. #marketing #eventmarketing #marketingbudgets #growth

Reasons to be positive... - The latest Q2 IPA Bellwether Report shows a significant rise in marketing budgets among UK businesses, marking the highest increase in a decade at +15.9%. - Event budgets saw a standout increase of +17.2%, reflecting the power of real-world experiences. - Direct Marketing Budgets have increased for the 6th consecutive quarter, now at +8.9%. - Main Media Budgets Returned to growth at +3.5%, driven by strong performance in online advertising (+15.3%) and video (+7.8%). - Optimism in Adspend: Although real terms growth is expected to flatline in 2024 due to economic challenges, the outlook for 2025 is much more positive. Paul Bainsfair, IPA Director General, attributes this optimism to a 'brighter economy, lower inflation, and new government policies'. However, he also advises brands to remain sensitive to ongoing household financial pressures.