According to the Q2 2019 IPA Bellwether report, UK marketing budgets are being put on hold as a consequence of the ongoing political and economic uncertainty.
A total of 300 UK companies shared their outlook, revealing a negative net balance regarding their future budgets with figures being the second-lowest since 2011.
Despite the general stagnancy, there are several sectors still reporting net growth with the internet taking the forefront at 11.5%. Our Senior Director, Natalie Richardson, is hopeful that digital spend will continue to grow during this unpredictable period:
"With the political and economic uncertainty as it is, there won’t be many people in the industry unduly shocked by the fact that marketing budgets have remained static, and as agencies we’ve been managing the knock-on effect of that for some time.
Uncertainty aside, marketers are continually striving to build and maintain better relationships with their customers, and the good news for us is that digital spend is still growing as marketers recognise and truly value the role digital plays in those relationships.
Our role as agencies is to help them find smarter ways to do that and to de-risk their media spend, helping them to be more agile and fluid in the investments that are making. With the data and technology we have available, we are in the privileged position of being able to focus on the metrics that really matter and help marketers make more informed decisions within their businesses.”
As featured in the Drum.